FRAMINGHAM – A popular Framingham restaurant is part of a restaurant merger.
J. Alexanders Holdings Inc. has agreed to purchase The 99 Restaurant & Pub chain for $199 million, including debt, announced the Nashville-based chain this morning.
The Woburn-based 99 chain was founded in 1952 by Charlie Doe, who died in 2006. The chain has more than 100 locations in the Northeast, including Framingham.
J. Alexanders owns 42 restaurants including J. Alexander’s, Redlands Grill and Stoney River Steakhouse and Grill.
“Both 99 and J. Alexander’s are terrific concepts that have separately generated strong same store sales growth and impressive financial performance in a challenging environment for the casual dining industry,” said Chairman William P. Foley, II, in a press release. “We believe this combination provides a larger, stronger, better diversified and more formidable player in the casual dining segment. We are excited to be involved with J. Alexander’s again and look forward to great success with the combination of these two great concepts.”