Red Robin Sells 108 Restaurants in $89.4 Million Refranchising Push

The transaction involves three separate agreements with experienced multi-unit operators who are taking over locations across the United States. Op Burgers, LLC acquired 61 restaurants for $55.9 million, while Kuber Oregon and Kuber Washington picked up 17 units for $10 million. Evergreen Dining LLC finalized the purchase of 30 restaurants in Washington and Western Idaho for $23.5 million. An additional eight restaurants, part of the Op Burgers deal, are slated to close by the end of the 2026 fiscal year, potentially adding $6.6 million to the total proceeds.

CEO Dave Pace noted that the divestitures provide the financial flexibility necessary to refinance existing debt and reinvest in the brand's core guest experience. The new operators, who collectively manage hundreds of restaurant units across multiple national brands, will maintain the existing Red Robin name and service standards. The company intends to direct the roughly $96 million in total proceeds toward its ongoing debt reduction and refinancing initiatives.