Kanen Wealth Management Engages in Discussions with Diversified Restaurant
July 15, 2019 at 05:28 pm EDT
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On July 15, 2019, Kanen Wealth Management LLC expressed its intention to engage with the Board of Directors of Diversified Restaurant Holdings, Inc and management in the spirit of mutual respect and congeniality. Kanen Wealth Management stated that the purpose of its letter to the Company is not to be critical of anything the Company has done to date and to the contrary, its reason for writing is to express that it is an ally of SAUC and hope to assist the Company to reduce and refinance its existing debt, which will result in a favorable outcome for all stockholders. In addition, Kanen Wealth Management stated that accordingly, it hereby extend an offer to purchase equity in the Company at favorable terms, which would allow the Company to refinance the existing term loan with a maturity date of June 29, 2020.
Patton Wings, Inc is a United States-based restaurant company, which is operating a single concept, Buffalo Wild Wings (BWW). The Company owns restaurants in Florida, Illinois, Indiana, Michigan and Missouri. The BWW restaurants feature a range of menu items with a multimedia social environment, a bar and an open layout designed to create a dining experience for sports fans and families. It's guests have the option of watching various sporting events on projection screens or televisions. The restaurants offered 20 to 40 domestic and imported beers on tap, including several local or regional microbrews and a selection of bottled beer, wine and liquor.
DIVERSIFIED RESTAURANT HOLDINGS, INC. 
