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Benzinga
Benzinga
Business
Shivani Kumaresan

Franchise Group Completes Sale Of Badcock Distribution Centers

Franchise Franchise Group Inc Nasdaq
  • Franchise Group Inc (NASDAQ:FRG) has completed the sale-leaseback of three W.S. Badcock Corporation distribution centers for about $150 million to affiliates of Oak Street Real Estate Capital.
  • Franchise expects to complete the sale-leaseback of the corporate headquarters by Q2 end.
  • CEO Brian Kahn said, "We are pleased to close the sale of the Badcock distribution centers and retire the balance of our acquisition term loan with the cash proceeds."
  • Franchise held $149.6 million in cash and equivalents as of March 26, 2022.
  • Price Action: FRG shares are trading higher by 1.11% at $35.51 on the last check Tuesday.
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