Why Vitamin Shoppe Owner Franchise Group Is Surging Today

Author: Shivani Kumaresan | March 20, 2023 10:03am

• Franchise Group Inc (NASDAQ:FRG) revealed the receipt of an unsolicited non-binding proposal to acquire all of its outstanding shares at $30.00 per share in cash.
• The offer represents a premium of 32% to the company's last closing price of $22.75.
• The Board of Directors will carefully evaluate the proposal to determine the course of action, said the company.
• Franchise Group made no assurance that the proposal would result in a transaction.
• Last year, retailer Kohl's Corporation (NYSE:KSS) called off discussions with Franchise Group to sell its business.
• In January, there were reports that the company considered going private through a management buyout.
• Franchise Group's business lines include Pet Supplies Plus, Wag N' Wash, American Freight, The Vitamin Shoppe, Badcock Home Furniture & More, Buddy's Home Furnishings, and Sylvan Learning.
• On a combined basis, Franchise Group currently operates over 3,000 locations, predominantly in the U.S.
• Price Action: FRG shares are trading higher by 9.65% at $24.94 on the last check Monday.

Posted In: FRG KSS