COLUMBUS, Ohio (AP) — The owner of the Bob Evans restaurant chain is planning to sell its new Ohio headquarters just outside Columbus along with two manufacturing plants.
Bob Evans Farms Inc. says it will then lease back the properties and use the money from the sale for stock buybacks.
It’s the latest move in the company’s attempts to improve its bottom-line.
The Columbus Dispatch reports that the sale of headquarters and food manufacturing plants in Lima and Sulphur Springs, Texas, should go through this summer.
The company isn’t saying how much it expects to get in the deal. The headquarters in the Columbus suburb of New Albany opened less than two years ago.
Bob Evans Farms has over 500 restaurants in 19 states mostly in the Midwest, mid-Atlantic and Southeast.