LITTLETON Colo. The shareholders of Champps Entertainment Inc. voted on Friday to approve the $74.8 million sale of the sports-and-entertainment concept to F&H Acquisition Corp.
Champps said in a statement that the $5.60-per-share buyout was approved by holders of 99.8 percent of the shares voted, which represented around 81.6 percent of the total number of shares outstanding.
The sale is expected to close Oct. 22. The deal originally was slated to close Oct. 1, but Champps said on Sept. 24 that it was giving F&H and its equity partners more time to complete their financing.
F&H Acquisition is the holding company for Wichita, Kan.-based Fox & Hound Restaurant Group. Its equity sponsors in the Champps deal are Newcastle Partners LP, Newcastle Special Opportunity Fund III LP and Steel Partners II LP.
Champps, based here, has 61 sports-and-entertainment restaurants in 21 states.