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Good Times acquires 2 franchised units
March 12, 2008
GOLDEN, Colo. — Good Times Restaurants Inc. has announced that through its wholly owned subsidiary, Good Times Drive Thru Inc., it has acquired two franchised restaurants in Denver from CEDA Enterprises Inc. for a total of $1.35 million.
The underlying land on one of the restaurants was included in the purchase and, with the building, was sold simultaneously in a sale leaseback transaction. The purchase was funded through a combination of cash, elimination of notes receivable from the franchisee and net proceeds of approximately $863,000 from the sale leaseback transaction.
Good Times Burgers & Frozen Custard has 52 restaurants, mostly in Colorado, serving all-natural Coleman beef burgers, chicken sandwiches and fresh frozen custard.
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