Huddle House Inc. has agreed to purchase 342 Perkins Restaurant and Bakery locations. Huddle House will manage the Perkins units, but at this stage, there are no plans to convert any stores to Huddle House restaurants, or the other way around. The deal is expected to close towards the end of October.
Perkins closed 29 locations in August while filing for bankruptcy protection.
“Strategically, this is a very good fit, said Huddle House CEO, Michael Abt. “Both Huddle House and Perkins are breakfast-first concepts, and we pride ourselves on our ability to bring families together through remarkable food and homestyle meals.”
“We believe that we can further utilise Huddle House’s existing platforms and financial backing to strengthen the growth of the Perkins brand.”
Between the two brands, they would have nearly 700 locations, with expected sales to be around US$800 million combined.