LITTLETON, COLO. —Champps Entertainment Inc., operator or franchisor of 61 namesake dinnerhouses, said its letter of intent to be acquired for $75 million by its management and an affiliate of private-equity firm Kinderhook Industries LLC had expired.
The company did not say why the deal fell through, but it was contingent on typical due diligence, the obtaining of debt financing by New York-based Kinderhook and shareholder approval. The buyout was to have been led by Champps chairman and chief executive Michael O’Donnell and chief financial officer David Womack. —Champps Entertainment Inc., operator or franchisor of 61 namesake dinnerhouses, said its letter of intent to be acquired for $75 million by its management and an affiliate of private-equity firm Kinderhook Industries LLC had expired.
Champps said a special committee of directors continues to pursue a sale of the chain. —Champps Entertainment Inc., operator or franchisor of 61 namesake dinnerhouses, said its letter of intent to be acquired for $75 million by its management and an affiliate of private-equity firm Kinderhook Industries LLC had expired.