News

Good Times to acquire Bad Daddy's for $21M

Good Times can develop additional locations without geographic restrictions as part of the deal.

May 7, 2015

Good Times Restaurants Inc. will acquire QSR burger chain Bad Daddy’s International for $21 million, according to Biz Journals.

Good Times will purchase all rights and interest to the Charlotte-based Bad Daddy's Burger Bar under the deal, which will turn Bad Daddy’s into a wholly-owned subsidiary of Good Times.

Good Times purchased 48 percent of the chain two years ago and has licensing rights to develop Bad Daddy's in Colorado, Oklahoma and Kansas.

"Since then, the performance of the Bad Daddy’s restaurants we have opened and those in which we will be acquiring an interest has confirmed our original enthusiasm and we are excited to take Bad Daddy’s expansion to the next level," said Boyd Hoback, president and chief executive of Good Times, in the article.

Under the agreement, Good Times attains Bad Daddy International’s 52 percent stake, intellectual property, ownership of four restaurants and partial interest in three other locations in North Carolina, and the license for Bad Daddy’s Burger Bar at Charlotte Douglas International Airport, Biz Journals reported.

Good Times can develop additional locations without geographic restrictions as part of the deal.