Luby’s secures $100M for expansion, possible acquisition

HOUSTON Luby’s Inc., operator of 127 namesake cafeterias, closed on a five-year credit agreement of up to $100 million to help fund restaurant development, investments in existing locations and expansion of its “culinary services” contract-feeding unit, the company said July 19.

The company said the facility might also be used for acquisitions. It did not provide details on any pending deals.

The agreement provides a $50 million revolving line of credit which

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