June 25, 2017 10:23 PM ET

Hotels, Restaurants and Leisure

Company Overview of Garden Fresh Holdings Inc.

Company Overview

Garden Fresh Holdings Inc. operates a chain of salad buffet-style restaurants in the western, southern, and eastern portions of the United States. It offers soups, salads, muffins, focaccia, breads, desserts, and pasta items. Garden Fresh Holdings Inc. was founded in 1978 and is headquartered in San Diego, California.

15822 Bernardo Center Drive

Suite A

San Diego, CA 92127

United States

Founded in 1978





Key Executives for Garden Fresh Holdings Inc.

Chief Executive Officer
Age: 64
Compensation as of Fiscal Year 2016.

Garden Fresh Holdings Inc. Key Developments

Motion for Asset Sale Approved for Garden Fresh Restaurant Intermediate Holding, LLC

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Garden Fresh Restaurant Intermediate Holding, LLC on January 9, 2017. The debtor has been authorized to sell substantially all its assets to GFRC Acquisition LLC, the stalking horse bidder. The debtor did not receive any other competing bids for the purchase of its assets and therefore GFRC Acquisition LLC emerged as the winning bidder.

Amended DIP Financing Approved for Garden Fresh Restaurant Intermediate Holding, LLC

The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for Garden Fresh Restaurant Intermediate Holding, LLC on December 30, 2016. As per the order, the debtor has been authorized to obtain a term loan in an additional amount of $2.5 million from Ares Capital Corporation, Cerberus ASRS Holdings LLC, Cerberus Levered Loan Opportunities Fund II, LP (fund of Cerberus Capital Management, L.P.) and Cerberus NJ Credit Opportunities Fund, L.P. The total DIP financing obtained by the debtor would now be in the amount of $7 million. The DIP facility would now mature on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. All other terms of the DIP agreement shall remain unaltered.

Notice of Auction Cancellation filed by Garden Fresh Restaurant Intermediate Holding, LLC

Garden Fresh Restaurant Intermediate Holding, LLC filed a notice in the US Bankruptcy Court for the cancellation of auction for the sale of substantially all its assets on December 29, 2016. As per the notice filed, no qualified bids were received and therefore, the auction scheduled for January 3, 2017 has been cancelled and GFRC Acquisition LLC has been selected as the successful bidder. The sale hearing scheduled for January 9, 2017.

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Recent Private Companies Transactions

January 9, 2017
Garden Fresh Restaurant Corp.

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