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TGI Friday's chain may be sold by Carlson family

TGI Friday's annual sales of $2.5 billion have been going to the Carlson family since 1975.
Posted By Sonali Basak   |   Nov. 22, 2013 at 5:39 PM   |   Comments

Nov. 22 (UPI) -- The TGI Friday's restaurant chain might find a new home. Its owner, Carlson, is seeking alternatives, or a possible sale, for the chain of more than 900 restaurants worldwide.

Carlson bought the company in 1975 when it was a decade old and already a singles hotspot. At the time of the purchase there were 12 restaurants in nine states, and Carlson expanded the chain to more than 60 countries.

Carlson is a family-owned company, self described as "one of the largest private companies in the world." It owns Radisson, Country Inns & Suites, and a number of travel and hospitality brands. The American, family-friendly restaurant brand, had annual sales of more than $2.5 billion.

The company reported that it was time to capitalize on the brand. It hired an investment bank to consider the strategy of a sale among other options.


[Wall Street Journal]

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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