History
Bravo Brio Restaurant Group (BBRG) was founded in 1992 by Rick Doody, his brother Chris Doody, and Executive Chef Phil Yandolino. Initially, the restaurant group consisted of one brand, Bravo Cucina Italiana. The first restaurant opened in Columbus, Ohio. Eventually, the restaurant group launched a second similar, but more upscale brand, Brio Tuscan Grille. In October 2010, BBRG went public and their IPO raised net proceeds of $62.4 million. On May 24, 2018, BBRG was sold to Spice Private Equity Ltd. and renamed FoodFirst Global Restaurants. BBRG sold for about $100 million and their shareholders received $4.05 per share in cash. At that moment, Bravo and Brio managed 110 stores in 32 states, for an estimated sales volume of around 400 million dollars. On April 10, 2020, FoodFirst Global Holdings Inc. filed for voluntary Chapter 11 bankruptcy protection in the Middle District of Florida.Executive Officers
* CEO - Steve Layt * Chairman - Antonio Bonchristiano *Legal
In 2018, BBRG announced it had settled two lawsuits in 2017 for a total of $5.6 million. A class-action lawsuit filed in Missouri involved 8,000+ former and current employees and the Company settled the case for $4 million. A class-action lawsuit filed in New York involved over 500 employees and the Company settled the case for $1.6 million.References
{{Reflist Restaurant chains in the United States Restaurant groups in the United States Restaurants established in 1992 Companies formerly listed on the Nasdaq 1992 establishments in Ohio 2010 initial public offerings 2018 mergers and acquisitions Private equity portfolio companies Companies that filed for Chapter 11 bankruptcy in 2020