Hostmore will issue 224 million shares at 18 pence each to TGI Fridays shareholders, as well as take on $171 million of TGI Fridays’ debt. The deal, pending shareholder and regulatory approvals, is expected to conclude by September.
Hostmore To Buy TGI Fridays For £177M: Financial Outlook and Challenges
TGI Fridays reported sales of $502 million but a loss of $33 million for the year ended Dec. 31, 2023. Hostmore’s financial results for the 2023 fiscal year have yet to be announced. The merger holds the promise of bolstering the merged entity’s performance and establishing it as a major player in the global casual dining industry.
