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Franchise Group sells 47 franchise locations to Bebe Stores

Franchise Group has announced that it has refranchised 47 Buddy’s locations to women’s fashion retailer Bebe Stores for a sum of $35 million. The agreement also… View Article

FASHION

Franchise Group sells 47 franchise locations to Bebe Stores

Franchise Group has announced that it has refranchised 47 Buddy’s locations to women’s fashion retailer Bebe Stores for a sum of $35 million.

The agreement also covers plans for Bebe to open 20 new Buddy’s locations.

Brian Kahn, chief executive of Franchise Group, said: “We are pleased to partner with the founder and principals of Bebe to grow the Buddy’s business. This transaction is a good example of how Franchise Group can use refranchising company-owned units to simultaneously de-lever its balance sheet and create growth for its brands.”

The company said it will use the proceeds of the transaction to repay debt.

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