Magic Brands
Magic Brands, LLC was the owner of Fuddruckers and Koo Koo Roo and was based in Austin, Texas. The company acquired Fuddruckers in 1998. On April 22, 2010, Magic Brands filed for Chapter 11 bankruptcy protection.[1] On June 18, 2010, Luby's announced it was buying Fuddruckers and Koo Koo Roo, and the deal eventually was for $61 million in cash via an auction.[2][3] A second estimate was that the sale amount was for $63 million.[4] Luby's acquisition of Fuddruckers and Koo Koo Roo was finalized during the summer of 2010.
| Industry | Dining |
|---|---|
| Fate | Bankruptcy; acquired by Luby's |
| Successor | Luby's |
| Founded | 1998 |
| Defunct | 2010 |
| Headquarters | Austin, Texas, U.S. |
| Products | Fuddruckers and Koo Koo Roo |
References
- Baertlein, Lisa (June 18, 2010). "UPDATE 1-Luby's buys Fuddruckers for $61 million". Reuters. Retrieved June 23, 2011.
- Bankruptcy forces 2 California Fuddruckers to close today Retrieved 4/20/10
- Nathan Olivarez-Giles (June 18, 2010). "Luby's cafeteria to buy Fuddruckers and Koo Koo Roo for $61 million". Los Angeles Times. Retrieved 2011-06-22.
... Fudds Luby's, based in Houston, has agreed to buy the majority of the assets of Fuddruckers and Koo Koo Roo's parent company Magic Brands for about $61 million in cash ... The assets from Magic Brands, which filed for Chapter 11 protection in April, were sold to Luby's in an auction ...
- Bill Rochelle (Jan 13, 2011). "General Growth, Innkeepers, Fuddruckers: Bankruptcy". Bloomberg. Retrieved 2011-06-16.
Houston-based Luby’s bought the Fuddruckers business for $63.45 million in a sale approved by the bankruptcy court in June.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.