ROTI - Harvest Restaurant Group Inc Message Board

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Microcap & Penny Stocks : ROTI - Harvest Restaurant Group Inc

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To: Gary West who wrote (32)	3/11/1998 10:26:00 AM
From: Gary West	Read Replies (2) of 1702

Found this article today. I don't see why they are buying a string of juice bars when their product is mainly chicken. With a 3 million dollar hit for closing some existing Harvest restaurants as well as 1 million for changing over the Burger Express chain, where do they have the $$$ for this purchase? After the Kenny Rogers aborted deal, this one has all the appeal of rotten chicken.Any thoughts out there? Harvest Restaurant <ROTI.O> in deal for drinks cos SAN ANTONIO, March 10 (Reuters) - Harvest Restaurant Group Inc said Tuesday it has executed an agreement in principle to acquire the 110-unit Surf City of Phoenix and Sports Group International Inc of La Jolla, Calif. The company said in a statement the agreement is contingent upon approval of a definitive agreement which is scheduled to close around March 31. No further terms were provided. Harvest said its stockholders will retain all of their current shares equaling about 25 percent of much larger international combined company. Surf City founder Kevin Blackwell will become chief executive officer of Harvest, with William Gallagher remaining chairman. Surf City is a juice bar company and Sports Group is the exclusive licensee internationally and distributor of Spalding Sports Drinks water and nutrition line. 18:58 03-10-98

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