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Bob Evans sells restaurants; food division buys potato company [View all]
Bob Evans Farms is selling its restaurants.
Private Equity firm Golden Gate Capital agreed to purchase Bob Evans restaurants for $565 million, taking that portion of the company private.
The transaction splits the company in half. Bob Evans Farms food division, which makes mashed potatoes, sausage and various side dishes, will become a standalone company.
The food division also announced the purchase of Pineland Farms Potato Co. for $115 million. The company is based in Maine. Food division President Mike Townsley has been named the new CEO of Bob Evans Farms.
Read more: http://www.dispatch.com/news/20170124/bob-evans-sells-restaurants-food-division-buys-potato-company
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