American casual dining chain Red Robin Gourmet Burgers has signed a refranchising agreement to sell 30 restaurants to Evergreen Dining.
The units are located in Washington and western Idaho and will continue to operate under the Red Robin brand after the handover.
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As agreed, Red Robin will receive $23.5m in cash as consideration.
The chain plans to allocate most of the proceeds to reducing debt, in line with the priorities set out in its “First Choice Plan”.
Evergreen Dining’s leadership has managed more than 100 restaurants across several national chains over nearly 30 years, employing over 1,200 people across its operations.
In a statement, Evergreen Dining said: “Red Robin has been bringing Washingtonians and Idahoans together for moments of connection since 1969.
“We look forward to partnering with the talented teams in each location to solidify Red Robin’s position as the First Choice in these communities, while still offering the same juicy burgers, bottomless fries and exceptional hospitality guests have enjoyed for almost six decades.”
The deal is expected to close in the second half of 2026, subject to customary closing conditions.
Red Robin president and CEO Dave Pace, who was appointed in April 2025, said: “Since launching our First Choice Plan last year, we have been focused on finding franchise partners who share our values and commitment to delighting guests.
“We are confident Evergreen Dining is the right partner to accelerate growth at these locations while also helping us strengthen our balance sheet, improve our capital structure, and enhance our financial flexibility as we evaluate potential refinancing partners.
“This exciting next chapter with Evergreen Dining would not have been possible without our talented team members who have worked tirelessly to execute on our First Choice Plan and help us strengthen our competitive position.”
