News

Good Times taps financial advisor for potential acquisitions

April 12, 2012

Colorado-based Good Times Restaurants Inc. has entered into a financial advisory services agreement with Heathcote Capital LLC to strategize possible transactions.

The services to be provided by Heathcote may involve identifying and contacting potential acquisition targets and/or sources of financing for the company, advising and assisting the company in evaluating various structures and forms of any transaction, assisting in the preparation of proposals and evaluation of offers, and assisting the company in negotiating the financial aspects of a transaction.

Gary J. Heller, a member of the company's board of directors, is the principal of Heathcote. Heller has extensive experience as an investment banker, including having served as a managing director of FTI Capital Advisors LLC and a director of Andersen Corporate Finance LLC.

"With the continued improvement in our sales and the profitability of our core business over the last couple of years and our plans for additional growth of Good Times in Colorado, we are evaluating additional concepts for acquisition, additional financing in order to accelerate our growth and ways to leverage our existing infrastructure. We have excellent systems and processes in place in accounting, finance, technology, human resources, development and marketing that can support separate brand leadership and operating teams of multiple brands. Gary is an experienced and cost-effective resource to help us identify and evaluate acquisition and financing alternatives and other strategic alternatives to maximize shareholder value," said Boyd Hoback, president and CEO of Good Times.

The company also announced that effective April 10, Alan Teran has rejoined the board of directors to fill the seat vacated by John Morgan, and he will replace Heller as a member of the audit and compensation committees.

Good Times operates and franchises 43 restaurants, primarily in Colorado.

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