Cracker Barrel Old Country Store, Inc. Announces Completion of Sale-Leaseback Transactions

LEBANON, Tenn.--(BUSINESS WIRE)--Cracker Barrel Old Country Store, Inc. (“Cracker Barrel,” or the “Company”) (Nasdaq: CBRL) today announced the closing of the sale-leaseback of its retail distribution center and fourteen of its store locations, with a fifteenth expected to close on or before July 31st. The transactions are expected to produce aggregate gross proceeds of approximately $57.6 million, consisting of $12.4 million relating to the distribution center and slightly more than three million dollars for each of the 15 store locations. The sale-leaseback transactions were the result of a competitive bidding process.

Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701005143&newsLang=en