Dozens of Red Robin locations will soon become franchises as part of a $72.5 million deal.
WASHINGTON — Red Robin is selling 86 more of its restaurants in the U.S. for $72.5 million, the company said Monday.
The latest sale news comes less than a month after striking a deal to sell dozens of its locations in Washington and Idaho.
All of the purchased restaurants will continue operating under the same Red Robin brand, just as franchises, Red Robin said.
One of the agreements announced this week includes Op Burgers, LLC taking over 69 restaurants as franchises in Kentucky, Indiana, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina and Virginia for $62.5 million.
The other agreement covers Kuber Oregon, LLC and Kuber Washington, LLC acquiring 17 locations based in Oregon and Washington for $10 million.
Red Robin said in a press release that the proceeds from the three sales will be primarily used to pay down debt while focusing on priorities from its “First Choice Plan.”
The companies have not said which specific locations are part of the sales. They expect the deals to close later this year.
Red Robin previously said it plans to close 20 restaurants this year, according to the Denver Business Journal.
As of April, Red Robin had 379 company-owned restaurants in 39 states and 90 franchised restaurants in 13 states, according to a filing with the U.S. Securities and Exchange Commission.
Red Robin’s “First Choice Plan” was introduced in July 2025 and one of its stated goals was to manage expenses and assets to reduce debt and allow for investments, including through refranchising “select company-owned restaurants and markets.”
During a May earnings call, Red Robin President and CEO David Pace said the company was in the “final stages of discussions” with multiple parties about turning some current locations into franchises.
Pace said in a press release Monday that these new partnerships “will provide Red Robin with the financial flexibility needed to reduce debt, support our refinancing objectives and accelerate investment system-wide. I look forward to what we will accomplish together for the benefit of our guests, team members and investors.”
Dining and Cooking