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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) January 9, 2001
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FRISCH'S_RESTAURANTS, INC.
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(Exact name of registrant as specified in its charter)
OHIO
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(State or other jurisdiction of incorporation or organization)
1-7323 31-0523213
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(Commission File Number) (I.R.S. Employer Identification No.)
2800 GILBERT AVENUE, CINCINNATI, OHIO 45206
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 513-961-2660
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Item 5. Other Events.
See the attached press release.
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SIGNATURE
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.
FRISCH'S RESTAURANTS, INC.
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(registrant)
DATE January 16, 2001
BY /s/ DONALD H. WALKER
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Donald H. Walker
Vice President - Finance and
Principal Financial Officer
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Company Contact:
Donald H. Walker Bill Roberts, CTC
Vice President and CFO (937) 434-2700
Frisch's Restaurants, Inc. Ellen Geron, CTC
(513) 559-5202 (937) 434-2700
Frisch's Restaurants, Inc. Secures Irrevocable Franchise Rights in its
Core Big Boy Business Territory
FOR IMMEDIATE RELEASE
Cincinnati, OH--January 9, 2001--Frisch's Restaurants, Inc. (Amex:FRS),
announced that it has reached an agreement with The Liggett Restaurant
Enterprises LLC giving Frisch's exclusive, irrevocable ownership of certain
rights to the Big Boy trademark, trade name and service mark in its core
operating areas in Ohio, Kentucky and Indiana, and in parts of Tennessee. In
exchange for these rights and the sum of $1,230,000, Frisch's sold Liggett
Frisch's franchise rights in the states of Florida, Texas, Oklahoma and Kansas.
Craig Maier, President and CEO of Frisch's stated, "The bankruptcy of Elias
Brothers (from whom Liggett acquired the rights to the Big Boy marks) gave us
the unique opportunity to strengthen our rights in our core territories by
eliminating the possible risk of loss of our Big Boy franchise rights in a
bankruptcy proceeding."
Frisch's had investigated a possible purchase of the entire package of Elias
assets when they were offered for sale in the bankruptcy. Maier said, "We
concluded that it didn't make economic sense for Frisch's to purchase the whole
package. Instead, in a win-win for Frisch's, we successfully negotiated a
purchase of the Big Boy rights in our core territory from the Liggett group and
at the same time a sale to Liggett of our excess territories."
Frisch's Restaurants, Inc. operates 86 family-style restaurants under the name
of Frisch's Big Boy in Indiana, Kentucky and Ohio and licenses another 38
restaurants to other Big Boy operators. The Company also operates seven Golden
Corral restaurants and intends to own and operate a total of 41 in the
Cincinnati, Cleveland, Dayton, Louisville and Toledo markets. The Company will
also operate (until it is sold) a high-rise hotel with banquet facilities and
dining rooms in metropolitan Cincinnati. Frisch's has recorded positive net
earnings for all 40 years the Company has been public and has paid 160
consecutive quarterly cash dividends.
Statements contained in this press release which are not historical facts are
forward looking statements as that item is defined in the Private Securities
Litigation Act of 1995. Such forward looking statements are subject to risks and
uncertainties which could cause actual results to differ materially from
estimated results. Such risks and uncertainties are detailed in the Company's
filings with the Securities and Exchange Commission.
