And London Stock Exchange Traded Hostmore Announce Proposed Business Combination

As a leader in the casual dining industry, TGI Fridays reported $1.4bn in total systemwide sales in 2023 alone. Upon completion of the transaction, the new combined entity would be named TGI Fridays plc and listed on the London Stock Exchange as "TGIF" with both US and global operations of the brand remaining in place at the company⁘s Dallas headquarters under the leadership of current Chief Executive Officer, Weldon Spangler . Additionally, the combined entity would have 189 corporate-owned restaurants in the United States and the United Kingdom for a total of nearly 600 restaurants across 44 countries.

"We have been laser focused on revitalizing the brand and driving growth through consumer-centric offerings, the optimization of our restaurant portfolio and the addition of senior team members. This transaction represents the next step in our journey as it increases our corporate-owned restaurant locations and provides capital to expand our presence globally," said TGI Fridays Chief Executive Officer, Weldon Spangler . "Hostmore is the perfect partner to help us achieve our vision, as they understand the importance of bringing ⁘That Fridays Feeling⁘ to Guests in the brand⁘s largest international market, operating 89 locations in the UK."

"This acquisition would give us the scale and flexibility to accelerate our existing strategy and enhance the financial outlook for Hostmore and scope for shareholder returns, while also strengthening our ability to provide an exceptional guest experience by harnessing our distinctive, trusted brand as the home of celebrations," said Stephen Welker , Chairman of Hostmore. "We look forward to presenting our existing and new shareholders the opportunity to participate in the significant value creation potential of the combined group going forward."

TGI Fridays is controlled by TriArtisan Capital Advisors, a U.S.-based private equity firm, with ownership stakes in several global consumer recognized dining concepts including P.F. Chang⁘s, the internationally recognized leader in Asian dining, C3, one of the fastest growing tech-enabled food service and IP platforms, and Hooters of America, the iconic sports bar, media, and entertainment company.

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