RESTAURANT ACQUISITIONS (Tables)

12 Months Ended

Jan. 02, 2022

Restaurant acquisitions

Schedule of pro forma information

	Year Ended
	January 2, 2022		January 3, 2021
(in thousands)
Pro forma revenues	$	247,973	$	190,928
Pro forma net income attributable to shareholders	$	27,975	$	6,249
Basic pro forma net income per share attributable to shareholders	$	2.85	$	0.68
Diluted pro forma net income per share attributable to shareholders	$	2.82	$	0.68

Famous Daves Restaurants Acquired

Restaurant acquisitions

Schedule of allocation of assets acquired and liabilities assumed

(in thousands)
Assets acquired:
Property, plant, equipment and leasehold improvements, net	$	641
Operating lease right-of-use assets		4,616
Total identifiable assets acquired		5,257
Liabilities assumed:
Gift card liability		(16)
Lease liability		(4,610)
Net assets acquired		631
Goodwill		469
Total consideration transferred	$	1,100

VIBS Transaction

Restaurant acquisitions

Schedule of allocation of assets acquired and liabilities assumed

(in thousands)
Assets acquired:
Current assets	$	708
Property, plant, equipment and leasehold improvements, net		5,101
Owned properties		3,148
Franchise agreements		10,602
Identifiable intangible assets, net		2,645
Operating lease right-of-use assets		14,723
Total identifiable assets acquired		36,927
Liabilities assumed:
Deferred royalty revenue		(327)
Other current liabilities		(1,187)
Supply chain adjustment		(117)
Gift card and loyalty liability		(1,186)
Lease liabilities		(17,220)
Deferred tax liability		(904)
Net assets acquired		15,986
Gain on bargain purchase		2,995
Total consideration transferred	$	12,991

Tahoe Joe's Acquisition

Restaurant acquisitions

Schedule of allocation of assets acquired and liabilities assumed

(in thousands)
Assets acquired:
Inventory		231
Property, plant, equipment and leasehold improvements, net		1,682
Lease right-of-use asset, net of unfavorable lease value		4,205
Identifiable intangible assets, net		1,200
Total identifiable assets acquired		7,318
Liabilities assumed:
Gift card liability		(160)
Lease liability		(4,355)
Deferred tax liability		(18)
Other current liabilities		(30)
Net assets acquired		2,755
Goodwill		1,962
Total consideration transferred	$	4,717

Granite City Food & Brewery Restaurants

Restaurant acquisitions

Schedule of allocation of assets acquired and liabilities assumed

(in thousands)
Assets acquired:
Cash and cash equivalents	$	128
Inventory		980
Property, plant, equipment and leasehold improvements, net		17,818
Lease right-of-use asset, net of unfavorable lease value		50,968
Identifiable intangible assets, net		8,329
Total identifiable assets acquired		78,223
Liabilities assumed:
Gift card liability		(3,923)
Lease liability		(50,968)
Deferred tax liability		(4,752)
Net assets acquired		18,580
Gain on bargain purchase		13,246
Total consideration transferred	$	5,334