Carrols Restaurant: Gains on deal to acquire 221 restaurants

Carrols Restaurant

20/02/2019 18:13

** Shares of U.S. Burger King franchisee  TAST.O  up 17 pct
at $10.95; best day in nearly ten years
    ** Co to acquire 166 Burger King and 55 Popeyes restaurants
from Cambridge Franchise Holdings in 10 Southeastern and
Southern states  urn:newsml:reuters.com:*:nBw6T0QXpa
    ** "We view TAST's announced acquisition of Cambridge
Franchise Holdings as a strong positive, significantly expanding
its growth opportunities at an attractive acquisition price,"
said SunTrust analyst Jake Jake Bartlett
    ** Bartlett notes that Popeyes is under-penetrated in TAST's
Northeast markets, which may provide additional growth
opportunities
    ** Cambridge will receive approximately 7.36 million shares
of Carrols common stock, and at closing will own approximately
16.6 pct of Carrols' outstanding common shares
    ** TAST down ~5 pct YTD 

 (Reporting by Nivedita Balu in Bengaluru)
 ((Reuters Messaging:
Nivedita.Balu.thomsonreuters.com@reuters.net))