Magic Brands Explained
Magic Brands, LLC was the owner of Fuddruckers and Koo Koo Roo and was based in Austin, Texas. The company acquired Fuddruckers in 1998. On April 22, 2010, Magic Brands filed for Chapter 11 bankruptcy protection.[1] On June 18, 2010, Luby's announced it was buying Fuddruckers and Koo Koo Roo, and the deal eventually was for $61 million in cash via an auction.[2] [3] A second estimate was that the sale amount was for $63 million.[4] Luby's acquisition of Fuddruckers and Koo Koo Roo was finalized during the summer of 2010.
Notes and References
- News: UPDATE 1-Luby's buys Fuddruckers for $61 million. June 23, 2011. Reuters . Lisa. Baertlein. June 18, 2010.
- https://web.archive.org/web/20100425021409/http://fastfood.freedomblogging.com/2010/04/22/bankruptcy-forces-2-california-fuddruckers-to-close-today/59199/ Bankruptcy forces 2 California Fuddruckers to close today
- News: Nathan Olivarez-Giles . Luby's cafeteria to buy Fuddruckers and Koo Koo Roo for $61 million . Los Angeles Times . ... Fudds Luby's, based in Houston, has agreed to buy the majority of the assets of Fuddruckers and Koo Koo Roo's parent company Magic Brands for about $61 million in cash ... The assets from Magic Brands, which filed for Chapter 11 protection in April, were sold to Luby's in an auction ... . June 18, 2010 . 2011-06-22.
- News: Bill Rochelle . General Growth, Innkeepers, Fuddruckers: Bankruptcy . Bloomberg . Houston-based Luby’s bought the Fuddruckers business for $63.45 million in a sale approved by the bankruptcy court in June. . Jan 13, 2011 . 2011-06-16.
