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Sale of business on tap for popular restaurant chain

Readers in Louisiana may be interested to read about an impending sale of a popular food restaurant chain. NRD Holdings LLC, which is based in Atlanta, is purchasing a number of locations of Golden Corral across the Midwest from Frisch's Restaurant, Inc. NRD Holdings LLC also owns and operate numerous locations of Popeye's, Checkers/Rally's and Domino's Pizza. While the deal was announced only recently, the business transaction is not expected to be completed until May 29.

When an owner of a business, whether it is a person or larger company, decides to sell, there are many things to be considered. Depending on the size, finding an interested buyer may be the easiest part, as it is only the start of a complicated and detailed transaction. A full financial assessment should be completed as part of an analysis to develop a proper exit strategy.

Even after the sale is agreed to, much work needs to be done to complete the transaction. Due to the complexity of business sales in Louisiana, working with an experienced business attorney can help a seller or buyer take on what can be an otherwise daunting task.

For Frisch, the sale is the culmination of a review of their business' Golden Corral ownership and meant to increase shareholder value, according to the company's CEO. However, for many the sale of business can signal the beginning of a retirement or just the necessity of cutting one's losses. Regardless of the reason, it is important that both the buyer and seller give the transaction its due diligence to ensure that both parties walk away from the sale without regret.

Source: Cincinnati Enquirer, "Frisch's selling Golden Corral," Mar. 12, 2012

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