Zoe's Kitchen to be acquired by Cava Group for $12.75 a share

Zoe's Kitchen Inc. (zoes) said Friday it has agreed to be bought out by privately held Cava Group Inc. in a deal with an enterprise value of about $300 million. The fast-casual restaurant chain with 261 outlets in the U.S., said shareholders will receive $12.75 in cash for each share owned, equal to a 33% premium over the company's 30-day volume weighted average price ending Aug. 16. Cava Group is a Mediterranean culinary brand with 66 restaurants.

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