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Luby’s to acquire Cheeseburger in Paradise for $11M

Luby’s Inc., the Houston-based owner of Luby’s Cafeterias and Fuddruckers, has agreed to purchase the 23-unit Cheeseburger in Paradise brand for $11 million.

Luby’s disclosed in a statement that the acquisition of all Cheeseburger in Paradise restaurants in 14 states, as well as reimbursements for the brand’s cash on hand, inventory, and accounts receivable, would be funded through Luby’s retained cash and the company’s credit facility. The de

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