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Friday
Mar262010
DateFriday, March 26, 2010 at 12:37PM |

Brinker is a Shrinker... again!

 

                

 

On the Border will no longer be a Brinker concept.  Golden Gate Capital has reached a buyout agreement with Dallas based Brinker International, (the parent company for Chili's) for the On the Border Mexican Grill & Cantina chain.

A Golden Gate affiliate, OTB Acquisitions LLC, will take control of the brands 160 restaurants both nationally and internationally. Brinker will provide the necessary support services to On the Border through the end of the fiscal 2011 year.

Brinker reports that On the Border saw same store sales drop 4.7 percent in the second quarter, which ended Dec. 23, 2009. The deal is expected to close by the end of the fiscal year.

Neither company has disclosed the purchase price yet.

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