An affiliate of San Francisco-based Golden Gate Capital has completed its acquisition of On the Border Mexican Grill & Cantina from Brinker International Inc., both companies said Thursday.
Financial details were not announced. But Brinker said the sale to OTB Acquisition LLC would bring in "proceeds of $180 million," a figure that will be "adjusted for deal costs and customary closing fees."
Golden Gate also said Stephen Clark, formerly chief executive at Taco Bueno, will be the new chief executive. Christopher Morris, who resigned last week from the Irving-based parent of Chuck E. Cheese's restaurants, will be the new chief financial officer.
Clark said the headquarters will remain in Dallas – in 20,000 square feet of space rented from Brinker. About 50 corporate jobs will be filled locally as "we build our office from scratch," he said.
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