Cracker Barrel Announces Strategic Actions
Cracker Barrel Old Country Store, Inc. today announced two strategic actions.
Sale-Leaseback Transaction
Cracker Barrel completed a sale-leaseback transaction with an institutional real estate investor for 26 Company-owned Cracker Barrel store locations, generating net proceeds of approximately $77 million. The Company intends to deploy the proceeds towards debt reduction. The transaction is tax efficient and enables the Company to utilize capital loss carryforwards that otherwise would have expired.
Maple Street Biscuit Company DivestitureCracker Barrel also completed the sale of certain assets used in its Maple...
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