Sadot Group to Divest Pokemoto and Muscle Maker Grill Restaurant Chains

Sadot Group has signed a letter of intent to sell its Pokemoto and Muscle Maker Grill restaurant chains. The LOI includes a $100,000 deposit and outlines the terms and conditions of the transaction. This marks Sadot Group's full divestment of restaurant assets. The exact terms of the sale have not been disclosed.

Sadot Group (NASDAQ:SDOT) has taken a significant step towards streamlining its operations by signing a letter of intent (LOI) to sell its Pokemoto and Muscle Maker Grill restaurant chains. The LOI, which includes a $100,000 deposit, outlines the terms and conditions of the transaction, reflecting mutual interest in completing the deal with urgency. The total purchase price for the restaurant chains is $4.25 million, with $2.5 million in cash at closing and the remaining $1.75 million carried by Sadot as secured notes over 72 months [1][2].

The sale of these restaurant chains marks a strategic move for Sadot Group, allowing the company to focus its resources on its core Agri-food business. According to Chagay Ravid, CEO of Sadot Group, the transaction will enable the company to realize cost savings in various areas, including insurance, legal, travel, and human resources [2].

The transaction is expected to be completed within the next 30-45 days or sooner, subject to customary closing conditions and finalization of definitive agreements. Sadot Group remains committed to keeping shareholders informed throughout the process and will provide updates as material developments occur [2].

References:
[1] https://seekingalpha.com/news/4491713-sadot-group-signs-letter-of-intent-for-sale-of-pokemoto-and-muscle-maker-grill-restaurant-chains
[2] https://www.stocktitan.net/news/SDOT/sadot-group-inc-announces-signing-of-letter-of-intent-for-sale-of-0luvrfsq3snb.html