Bob Evans CEO: Restaurants will remain open


Though Bob Evans has sold of all its restaurant locations, customers won’t see their neighborhood restaurant close anytime soon, according to the company CEO.

Bob Evans Restaurants announced Tuesday it has sold all of its restaurant locations to a private equity firm for $565 million. Golden Gate Capital bought the restaurant chain, and will retain the Bob Evans leadership team to guide the transition as it takes part of the company private, the company said.

» RELATED: 5 things to know about Bob Evans selling restaurants

On Wednesday, Saed Mohseni, CEO of Bob Evans Farms Inc., told this news organization that customers can expect their local Bob Evans to remain open.

» RELATED: Your favorite Bob Evans restaurant is NOT closing, and here’s why

“As I sit here today, I can say there are no closures coming,” he said. “It will be business as usual at all Bob Evans.”

Mohseni will become CEO of Bob Evans Restaurants following the transition. The restaurant chain has locations in Centerville, Moraine, Dayton, Hamilton, Middletown, Beavercreek, Miamisburg, Xenia and Springboro. Bob Evans Farms, Inc. also owns and operates several fresh pork plants, including a large operational one in Xenia.

Mike Townsley, president of BEF Foods, will assume the role of president and chief executive officer of Bob Evans Farms, Inc. following the closing of the Bob Evans Restaurants transaction.

Mohseni told this newspaper the plant — which is one of the company’s larger locations — will not be impacted by the change in corporate structure. Back in 2014, the company added 2,600 square feet to the plant and upgraded some equipment. The plant also makes meat products that are sold in major grocery retailers.

» RELATED: Bob Evans to close 27 restaurants (April 2016)

Moving forward, company executives said they hope the sale will push the company “to get back on the growth path again.” Shares of Bob Evans Farm Inc. increased by more than 20 percent on Wednesday, and hit a 52-week high at $57.94.

» SOCIAL MEDIA: Follow reporter Kara Driscoll on Twitter

“We are on a solid track for success, and the innovative work already underway to fulfill our brand promise, to connect with our heritage, and to leverage our deep roots in preparing and serving farm-fresh foods, will continue and expand under our independent partnership with Golden Gate Capital,” said current Bob Evans Restaurants President John Fisher, who will remain in place to oversee the completion of the transaction.

The company will continue to be headquartered in its New Albany location, just outside of Columbus.

FIVE QUICK BUSINESS READS:

» Liquidation discount store expands at new location

» Billion dollar Dayton supply company names new CEO

» Graeter’s teams up with brewery to make ice cream beer

» The Limited parent company files for bankruptcy

» Kroger looks to hire 10K permanent positions



Reader Comments ...


Next Up in Business

Springfield’s biggest employer to merge with East Coast health system
Springfield’s biggest employer to merge with East Coast health system

Mercy Health, which operates the Springfield Regional Medical Center and Mercy Health-Urbana Hospital in Champaign County, will merge with Bon Secours Health System, a Catholic health ministry serving residents across the East Coast. Mercy Health, headquartered in Cincinnati, is the largest employer in Springfield. It’s the largest health...
Champaign County officials push forward plan to build new hotel
Champaign County officials push forward plan to build new hotel

Champaign County economic development leaders will push ahead with a proposal that could lead to a new hotel in Urbana as early as next year. A recent review conducted by a Wisconsin-based consultant showed there’s enough demand in Urbana that it would be feasible to build a new hotel with at least 70 to 80 rooms and meeting space, said Marcia...
DELICIOUS NEWS: This Dayton cupcake shop is getting big props from Ohio government
DELICIOUS NEWS: This Dayton cupcake shop is getting big props from Ohio government

A Dayton bakery has received big props from the state of Ohio.  Twist Cupcakery, located at 25 S. St. Clair St. in downtown Dayton, has been selected by Secretary of State Jon Husted as one of February’s featured businesses for the Ohio Business Profile Program. “Twist Cupcakery is a unique sweets and confections bakery that...
JUST IN: Fairborn may sell historic firehouse to local coffee chain
JUST IN: Fairborn may sell historic firehouse to local coffee chain

The city of Fairborn has reached a preliminary agreement to sell its historic Firehouse #1 to an independently owned coffee company, which has plans to open a drive-through and retail coffee shop there. The deal is not yet complete, but both Fairborn City Manager Rob Anderson and Bill Miller Jr., founder and CEO of Grind House Coffee and Tea Co...
Dayton home sales start strong in 2018
Dayton home sales start strong in 2018

Sales of Dayton-area single-family homes and condominiums for January are up, with 839 transactions reported to the Multiple Listing Service, beating January 2017’s mark by five sales, Dayton Realtors reported Wednesday. A cumulative sales volume of $122 million represents a four percent jump in a year-over-year comparison, the Realtors association...
More Stories