EAT Brinker International Inc

DALLAS, Feb. 2 /PRNewswire-FirstCall/ -- Brinker International, Inc. (NYSE:EAT) announced today the completion of the sale of the Corner Bakery Cafe brand to CBC Restaurant Corp. CBC is a subsidiary of Il Fornaio (America) Corporation, which is a portfolio company of Bruckmann, Rosser, Sherrill, & Co., LLC, a New York-based private equity firm. Specific terms of the transaction were not disclosed. The company will use cash proceeds from the sale to fund general corporate expenses, including its share repurchase program. "Completing the sale of Corner Bakery Cafe underscores our continued commitment to refining our portfolio of brands and furthering our strategic vision to be a global casual-dining restaurant portfolio company," said Doug Brooks, Brinker International President and CEO. "We believe the Corner Bakery concept and style of operation will be well served by Il Fornaio and we look forward to watching its continued success." Corner Bakery Cafe is a unit of Dallas-based Brinker International, a recognized leader in casual dining. With 91 restaurants operating in eight states and the District of Columbia, Corner Bakery Cafe offers a variety of gourmet sandwiches, soups, salads and pasta as well as a full breakfast menu. Additional Brinker restaurant brands include Chili's Grill & Bar, Romano's Macaroni Grill, On The Border Mexican Grill & Cantina and Maggiano's Little Italy. Banc of America Securities, LLC served as Brinker's exclusive financial advisor for this transaction. First Call Analyst: FCMN Contact: DATASOURCE: Brinker International, Inc. CONTACT: media relations, Suzanne Keen, +1-972-770-8722, or investor relations, Lynn Schweinfurth, +1-972-770-7228, or Laura Conn, +1-972-770-5810, all of Brinker International, Inc. Web site: http://www.brinker.com/

Copyright