SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
----------------------------------
Date of Report (Date of earliest event reported): June 29, 2000
-------------
CHAMPPS ENTERTAINMENT, INC.
(Exact name of Registrant as specified in charter)
Delaware 0-22639
(State or other jurisdiction (Commission file number)
of incorporation)
04-3370491
(IRS employer
identification no.)
5619 DTC Parkway, Suite 1000, Englewood, Colorado 80111
(Address of principal executive offices) (Zip Code)
(303) 804-1333
(Registrant's telephone number, including area code)
There are 3 pages in this Report.
Page 1 of 3
<PAGE>
Item 2. Acquisition or Disposition of Assets
On June 29, 2000, Champps Entertainment, Inc. ("Champps") acquired two
Champps Americana restaurants from existing franchisees.
In the first acquisition, pursuant to an Asset Purchase Agreement dated
as of April 6, a wholly owned subsidiary of Champps acquired from Prairie
Restaurant Group, Inc., a Minnesota corporation ("Prairie"), all of the assets
of Prairie, consisting principally of a leasehold interest in a 9140 sq. ft
Champps Americana restaurant located in Eden Prairie, Minnesota, and all
furniture, fixtures and equipment related to the operation of the restaurant for
approximately $5,675,000 in cash. The acquisition was financed in part with the
proceeds from a loan of $4,750,000 provided by FINOVA Capital Corporation
secured in part by the acquired assets. A majority of the capital stock of
Prairie is owned by Dean Vlahos, a former executive and director of the Company.
In the second acquisition, pursuant to an Asset Purchase Agreement
dated as of April 6, a wholly owned subsidiary of Champps acquired from Bregean
Investment Group, Inc., a Minnesota corporation ("Bregean"), all of the assets
of Bregean, consisting principally of a leasehold interest in a 12,145 sq ft
Champps Americana restaurant located in Minnetonka, Minnesota, and all
furniture, fixtures and equipment related to the operation of the restaurant for
approximately $5,675,000 in cash. The acquisition was financed in part with the
proceeds from a loan of $4,750,000 provided by FINOVA Capital Corporation
secured in part by the acquired assets. All of the capital stock of Bregean is
owned by Mr. Vlahos.
The acquired restaurants, which have been operated by Prairie and
Bregean pursuant to license agreements between Champps and Mr. Vlahos, will
continue to be operated by Champps.
Item 7. Financial Statements. Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired
Not required insofar as under Rule 3-05 of regulation S-X the acquisition of
these assets and businesses is not significant based on Champps' latest audited
financial statements.
(b) Pro Forma Financial Information
Not required insofar as under Rule 3-05 of regulation S-X the acquisition of
these assets and businesses is not significant based on Champps' latest audited
financial statements.
(c) Exhibits
2.1 Asset Purchase Agreement dated as of April 6, 2000 by and between
Champps Operating Corp. and Prairie Restaurant Group, Inc.
2.2 Asset Purchase Agreement dated as of April 6, 2000 by and between
Champps Operating Corp. and Bregean Investment Group, Inc.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: July 7, 2000 CHAMPPS ENTERTAINMENT, INC.
(Registrant)
By:/s/ Frederick J. Dreibholz
-----------------------------
Frederick J. Dreibholz
Treasurer, Vice-President and
Chief Financial Officer
