RED ROBIN GOURMET BURGERS INC 8-K

What Happened
Red Robin Gourmet Burgers, Inc. (via its wholly owned subsidiary Red Robin International, Inc.) announced on June 11, 2026 that it entered into two asset purchase agreements to sell 86 company-owned restaurants to franchise operators. Op Burgers, LLC agreed to buy assets related to 69 restaurants for $62.5 million, and Kuber (Kuber Oregon, LLC and Kuber Washington, LLC) agreed to buy assets related to 17 restaurants for $10.0 million. The company filed the agreements on Form 8-K and issued a press release on June 15, 2026.

Key Details

• Total restaurants sold: 86 (69 to Op Burgers; 17 to Kuber).
• Total aggregate cash consideration: $72.5 million ($62.5M for Op Burgers; $10.0M for Kuber), subject to customary adjustments.
• Targeted closings: Op Burgers ~ July 17, 2026 (outside date Oct 19, 2026); Kuber ~ Aug 28, 2026 (outside date Oct 2, 2026).
• Each buyer will operate the locations as franchised Red Robin restaurants under long-term franchise agreements at closing; transactions are subject to customary closing conditions (landlord consents, liquor-license transfers, lender consents).

Why It Matters
The transactions convert 86 company-owned restaurants into franchised locations and will reduce Red Robin’s company-operated footprint if completed. The company stated it intends to use net proceeds to reduce outstanding indebtedness, which could affect its balance sheet and capital structure. Completion is conditional on standard consents and approvals, and either party may terminate if the deal does not close by the applicable outside date.