Bob Evans Farms Inc. announced the sale of its Mimi's Cafe restaurant chain to Dallas-based LeDuff America Inc.
Mimi's Cafe is a French-inspired casual dining restaurant with 145 locations in 24 states, including a restaurant at the Pinnacle Promenade in Rogers.
The purchase price for the transaction is $50 million, consisting of $20 million in cash and a note for $30 million, subject to customary purchase price allocations and adjustments as of closing. The transaction is expected to be completed within the next 45 days.
LeDuff’s restaurant portfolio consists of La Madeleine Country French Cafe, Brioche Doree, Bruegger's Bagels, Timothy's Coffee and Michel's Baguette.