J. Alexander’s Holdings Inc., one of two restaurant companies controlled by Fidelity National Financial Inc., filed plans Tuesday for an initial public offering.
Jacksonville-based Fidelity owns 87.5 percent of the restaurant company, which operates 30 J. Alexander’s and 10 Stoney River Steakhouse and Grill restaurants.
The filing with the Securities and Exchange Commission does not say how many shares will be offered to the public, but it does say Fidelity will retain a controlling interest after the IPO.
Fidelity’s main business is title insurance, but the company has a history of investing in non-title related businesses. The company formed a subsidiary earlier this year called Fidelity National Financial Ventures to operate its non-real estate-related businesses. Fidelity also created a separate tracking stock, which trades on the New York Stock Exchange, for FNFV.
Fidelity actually controls two separate restaurant companies through FNFV, with J. Alexander’s operating more upscale
restaurants than the other company, American Blue Ribbon Holdings.
American Blue Ribbon’s restaurants include the O’Charley’s and Village Inn chains.
J. Alexander’s produced revenue of $148.9 million and net income of $6.3 million in the first nine months of this year, according to the IPO filing.
J. Alexander’s is expected to trade on the New York Stock Exchange under the ticker symbol “JAXH.”
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