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September 19
1863 - Gen. Edward F. Beale loans money to A.A. Hudson and Oliver P. Robbins to erect toll house in Newhall Pass [story]


Garden Fresh Restaurant Corp., parent of Souplantation in Southern California, and Sweet Tomatoes elsewhere, announced Tuesday it will sell the company’s assets to affiliates of Cerberus Capital Management, L.P. (“Cerberus”) and its partners. Garden Fresh expects to emerge from its Chapter 11 restructuring process later this month. Specific terms of the agreement, which received court approval today, were not disclosed. Garden Fresh said it would emerge from the financial restructuring with between 90 and 104 restaurants, a stronger capital structure and significantly less debt.

“This challenging, but necessary, process has created a stronger financial foundation,” said John Morberg, Garden Fresh CEO. “Through our partnership with new owners, we plan to accelerate the guest-focused efforts we’ve been making to refresh our brands.”

Garden Fresh said the acquisition will be completed during late January and no significant changes to its day-to-day operations are anticipated.

About Garden Fresh Restaurant Corp.

Each day begins fresh at the more than 100 company-owned restaurants in 11 states. More than 300 million guests since 1978 have helped us be number one in fresh produce and salads, made-from-scratch soups, hot pastas, freshly baked breads and muffins, fresh fruit, desserts, and more. Guests have the freedom to create their own wholesome meal in a one-of-a-kind dining experience in a friendly atmosphere and all at an everyday value. The company is headquartered in San Diego, CA.

About Cerberus Capital Management, L.P.

Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Cerberus has more than US $30 billion under management invested in four primary strategies: operational private equity, both control and non-control; distressed securities and assets; commercial mid-market lending; and real estate-related investments. From its headquarters in New York City and network of affiliate and advisory offices in the U.S., Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors, through multiple investment strategies, in countries around the world.

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1 Comment

  1. Mama Bear says:

    As long as they keep sending me those coupons in my e-mailbox, I’m fine with whoever owns Soup Plantation.

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Bank Santa Clarita17.45  chart +2.29%
Biosolar, Inc.0.0383  chart -4.25%
Sierra Bancorp25.45  chart +0.67%
Cu Bancorp (ca)36.95  chart +0.82%
Flex Ltd. - Ordinary Shares16.87  chart +0.78%
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Quest Diagnostics Incorporated101.86  chart -1.93%
Tejon Ranch Co21.24  chart +0.05%
Us Energy Initiative0.0009  chart +0.00%
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Apple Inc.158.73  chart +0.04%
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Brady Corporation36.40  chart -0.82%
Boston Scientific Corporation28.69  chart -1.03%
Brookfield Asset Management Inc40.14  chart +0.05%
Cbre Group Inc Class A36.94  chart +0.79%
Carnival Corporation65.22  chart +0.05%
Comcast Corporation37.30  chart +0.51%
Costco Wholesale Corporation161.56  chart +0.40%
Curtiss-wright Corporation101.54  chart -0.67%
Cvs Health Corporation83.10  chart -0.25%
Cemex, S.a.b. De C.v. Sponsored9.13  chart +0.66%
D.r. Horton, Inc.37.57  chart +0.21%
Walt Disney Company (the)98.43  chart +0.34%
Edison International79.71  chart -1.04%
Hyatt Hotels Corporation Class 60.80  chart +0.41%
Home Depot, Inc. (the)157.66  chart -0.10%
Kb Home21.28  chart -0.09%
Kroger Company (the)21.13  chart -1.45%
Lennar Corporation Class A51.81  chart +0.21%
Laboratory Corporation Of Ameri152.85  chart -0.59%
Lowe's Companies, Inc.77.49  chart -0.23%
Mannkind Corporation2.02  chart -11.40%
Marriott International107.35  chart +1.71%
Mcdonald's Corporation157.43  chart +0.48%
Mitsubishi Ufj Financial Group,6.32  chart +1.61%
Netflix, Inc.185.68  chart +0.57%
Office Depot, Inc.4.35  chart -1.58%
Rite Aid Corporation2.40  chart -12.09%
Rexford Industrial Realty, Inc.29.83  chart +0.27%
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Ross Stores, Inc.61.15  chart +0.56%
Republic Services, Inc.66.86  chart -0.12%
Starbucks Corporation54.62  chart -0.13%
Smart & Final Stores, Inc.7.30  chart +0.00%
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Six Flags Entertainment Corpora56.75  chart -0.56%
Sonova N168.80  chart +0.36%
Staples, Inc.10.25  chart +0.10%
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Target Corporation59.35  chart +0.44%
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