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Industry: Email Alert RSS FeedQuantum buys 30% of Santa Fe USA
Nation's Restaurant News, August 30, 1993
ROSLYN HEIGHTS, N.Y. -- Quantum Restaurant Group has bought 30 percent of Santa Fe USA, a three-unit chain of full-service steak houses with moderately priced menus.
Quantum, which has the option to acquire an additional 21 percent of Santa Fe USA after 30 months or launch an initial public offering of Santa Fe stock, made its initial investment by buying $4 million worth of an 8-percent cumulative preferred stock. The $4 million will be used to open additional Santa Fe restaurants.
"We are pleased to join the Quantum family, and we look forward to the many mutual benefits to be derived from this strategic alliance," said Donald A. Karas, president and chief executive of Santa Fe USA.
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Santa Fe's three units are located in Columbus, Ohio; Lake Ridge, Va.; and Dublin, Ohio. Two additional units were under construction at the consummation of the deal.
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