Rock Bottom Restaurants considering IPO

June 27, 2006

LOUISVILLE, Colo. — Rock Bottom Restaurants, parent company of pizza, pasta and microbrew-centered Old Chicago Pasta and Pizza, has hired investment banker Piper Jaffray & Co. to assist in exploring methods of raising expansion capital. According to a news release, the company is considering a private equity injection or possibly a public offering.

"Working with Piper Jaffray to investigate these avenues is the next logical step for our company as we continue to lay the financial foundation necessary to achieve our true growth potential," said John Coletta, executive vice president and chief financial officer for Rock Bottom.

Ned Lidvall, Rock Bottom's chief executive and president, said the company does not plan to change management or operations as it examines future growth initiatives.

"After 30 years in business, we fully understand that they are of utmost importance and as we move toward this financial transaction, we've made it clear they are a non-negotiable part of the future," Lidvall said.

Rock Bottom owns and operates 94 restaurants across the United States including Old Chicago, Rock Bottom Restaurant & Brewery, ChopHouse & Brewery and Walnut Brewery. It also franchises its Old Chicago concept with partnerships accounting for 24 restaurants.

Topics: Financial Management , Operations Management

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