The Board of Directors of Carlson, a global hospitality and travel company, has authorized a review of strategic alternatives available to the Company, including a possible sale of TGI Fridays Restaurants. As part of the evaluation process, the board of directors has selected Piper Jaffray to serve as its financial advisor.
Trudy Rautio, president and chief executive officer of Carlson, said “Capitalizing on Fridays’ strong marketplace momentum, the board has determined that this is the optimum time to assess its options for the iconic restaurant brand, including a possible sale.”
During this process, Fridays will continue to operate its business as usual, executing on the strategy and plans already in place that are delivering above-market performance across the U.S., U.K. and other international markets.
Fridays operates more than 900 restaurants in more than 60 countries and leads its category in American casual bar and grill dining. The first TGI Fridays restaurant opened in 1965 in New York City, building a brand known for many iconic firsts including the original “Happy Hour” and creation of the Long Island Iced Tea.
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