Bob Evans Selling Off Restaurants

A staple in midwest and rural breakfast eating, Bob Evans is officially selling off all their restaurants — announcing tuesday that Golden Gate Capital has bought the restaurant side for $565 million plus assets.

President Mike Townsley of Bob Evans Farms, Inc. said in a press release:

“Following the closing of the Bob Evans Restaurants transaction, Mike Townsley, President, BEF Foods, will assume the role of President and Chief Executive Officer of Bob Evans. Mike joined Bob Evans as president and chief operating officer of Owens Foods, Inc. in June 2003. Mike was appointed President of BEF Foods in June 2008. He also served as co-chief executive officer from December 2014 to September 2015. Mike has been the driving force behind the transformation of BEF Foods and we look forward to continued strong leadership from him and his team, including Chief Administrative and Chief Financial Officer Mark Hood who will remain in his role. The board appreciates the extraordinary talent, energy, and vision that Saed Mohseni has brought to Bob Evans and is excited that he has agreed to continue leading Bob Evans Restaurants following the transaction.”

Bob Evans has 522 restaurants, which — according to officials on Bob Evans side will not change despite the major sale to Golden Gate Capital, owners of Red Lobster and California Pizza Kitchen.

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