Harris Williams & Co. Advises Rewards Network Inc. in its Sale to EGI Acquisition, L.L.C. for $13.75 Per Share in Cash
Harris Williams & Co. is pleased to announce the sale of Rewards Network Inc. (Rewards Network; NASDAQ: DINE), a leading marketing services company to the independent restaurant industry, to EGI Acquisition, L.L.C. (EGI Acquisition), an affiliate of Equity Group Investments, L.L.C. (EGI), a private investment firm, for $13.75 per share in an all-cash transaction. Ned Valentine, Doug Yablonski and John Klim from Harris Williams & Co.'s Richmond office led the transaction.
"As the leading marketing services company focused on the independent restaurant industry, Rewards Network offers a full suite of marketing services and loyalty rewards programs to a vast, proprietary network of over 10,500 participating merchants, more than 3 million active members, and 13 premier rewards program partners," noted Doug Yablonski, managing director in Harris Williams & Co.'s Richmond office. "Rewards Network's services have proven to influence consumer behavior and drive increased revenue for participating merchants, which is critical as consumers continue to focus on value in the current economic environment."
Rewards Network, headquartered in Chicago, IL, operates the leading dining rewards programs in North America by marketing participating restaurants to members of these programs and by providing incentives to members to dine at these restaurants. In addition to operating its own dining rewards program, iDine, the company also operates the dining rewards program of leading airline frequent flyer programs, hotel frequent-stay programs, retailer shopping programs, college savings programs, and other affinity organizations, the company offers.