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Investor Group Shelling Out $174 Mil for Vicorp Restaurant

DENVER-Vicorp Restaurant stock has surged with a recent $174 million in cash offer to buy out the 256-eatery portfolio. The purchaser is an investor group that wants to take the Denver-based restaurateur private.

By John Rebchook | Updated on February 23, 2001

DENVER-An investor group that includes BancBoston Capital, the private equity investment arm of FleetBoston Financial Corp. and Goldner Hawn Johnson & Morrison Inc., a Minneapolis-based investment firm, has agreed to buy Denver-based Vicorp Restaurant for about $174 million in cash.

Vicorp’s stock had spiked 33% with the announcement that also takes the restaurateur private. The 40-year-old Vicorp owns and operates 256 Bakers Squares and Village Inn restaurants in 14 states. The chain had reported $372 million in revenues last year, up from 1999′s $359 million and $346 million in 1998.

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