OSI Restaurant Partners, LLC Announces Sale of Cheeseburger in Paradise
TAMPA, Fla.-(Business Wire)-September 18, 2009 - OSI Restaurant Partners announced the completion of the previously announced sale of its Cheeseburger in Paradise (CIP) brand to an investor group, led by brand president Steve Overholt, comprised of CIP management and outside investors.
“Our team is very excited about the closing of the deal. It would not have been possible without the tremendous support of both OSI and Margaritaville Holdings. We would like to thank them both for working so closely with us to set up a great foundation that allows for the continued development of the concept,” says Overholt.
“I congratulate Steve and his partners for their success in building a brand that their guests and employees are truly passionate about every day,” says Bill Allen, CEO of OSI Restaurant Partners. “We have full confidence that the Cheeseburger in Paradise brand will realize its full growth potential as an independent company under Steve’s leadership.”
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