Vitamin Shoppe owner Franchise Group says received buyout offer of $30/shr (updated)

Franchise

20/03/2023 12:53

(Adds details and context)
       March 20 (Reuters) - Vitamin Shoppe owner Franchise
Group Inc  FRG.O  said on Monday it had received an unsolicited
proposal to buy the company for $30 per share in cash.
    The offer represents a near 32% premium to the share's
closing price on Friday.     
    Shares of the company, which also owns retailer Buddy's Home
Furnishings, were halted in premarket trading.
    The offer values the company at about $1.05 billion,
according to Refinitiv calculations.
    Earlier this year, the Wall Street Journal reported that the
company is considering to be taken private through a buyout deal
led by CEO Brian Kahn and its executives.
    Franchise Group added on Monday that its board would
evaluate the proposal and that there was no assurance that the
offer would result in a transaction.    
      

 (Reporting by Aishwarya Venugopal in Bengaluru; Editing by
Dhanya Ann Thoppil and Sriraj Kalluvila)
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