Dallas resident can count on dining out on square fish paired with macaroni and cheese indefinitely, thanks to Houston-based Luby’s restaurant chain having found a buyer.
Last year Luby’s board of directors implemented a plan for the liquidation and dissolution of the organization and the recent purchase of the brand, along with the chain’s 32 Texas locations, is the latest step of the process. That portion of the company was valued at about $28.7m. A week earlier, the organization received $18.5m for its Fuddruckers brand from a franchisee.
Deciding to what degree a Logo Design should change when a new organization purchases a company is among the marketing decisions that need to be made.
Luby’s was purchased by entrepreneur Calvin Gin, who is making it the cornerstone of his new enterprise, Luby’s Restaurants Corporation. Gin intends to offer about 1,000 people employed at the current restaurants positions in the new company.
The Gin Family, of which Calvin is a member, founded the Chicago-based company The Flying Food Group, which is number three in North American airline catering. In addition to working at The Flying Food Group, Calvin Gin’s resumé also includes his co-founding of Charming Studios, WorkPlate, and Helios Visions.
The purchase of Luby’s does not include the company’s real estate. The newly formed Luby’s Restaurant Corporation expects to negotiate leases with the new owners of the former Luby’s individual properties.
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