ARC Group Inc., operator of the Dick’s Wings & Grill restaurant chain, said Monday it will buy the Tilted Kilt Pub Eatery chain in a complex transaction.
In a news release, ARC Group said a company owned by ARC Group board member Fred Alexander called SDA Holdings is buying Tilted Kilt. But SDA only intends to hold Tilted Kilt until ARC Group obtains financing to buy it.
“We are in the process of finalizing a financing plan for ARC Group that will enable it to obtain the funds necessary to complete the acquisition of Tilted Kilt. We expect ARC Group to complete the acquisition of Tilted Kilt within the next few months,” ARC Group Chairman Seenu Kasturi said in the release.
The purchase price was not announced.
The Tilted Kilt in Jacksonville at 9720 Deer Lake Court in Tinseltown, closed in March, according to News4Jax. The restaurant has been removed from the Tilted Kilt website.
Dick’s Wings has 20 restaurants in Florida and Georgia. Tilted Kilt has 47 restaurants in the U.S. and Canada.