Citizens Agents Buffalo Wild Wings Franchisee Amendment
Diversified Restaurant Holdings, the creator, developer and operator of ultra-casual restaurant and bar Bagger Dave’s Burger Tavern and one of the largest franchisees for Buffalo Wild Wings, announced it amended its existing credit agreement with a lender group led by Citizens Bank, as lead lender and administrative agent.
The amended agreement now consists of a five-year $56 million term loan facility, as well as a two-year $20 million development line of capital loan and a $1 million revolving line of credit. The new facility will be used to fund the company’s growth plans and other capital expenditures.
“We are pleased to have completed this financing which was made possible by our strong balance sheet. This agreement, combined with our recently announced sale leaseback transaction, provides us with continued financial flexibility to facilitate our previously communicated expansion plans for both Bagger Dave’s and Buffalo Wild Wings,” said David G. Burke, CFO.