J. Alexander’s Holdings, Inc. Becomes Public Company after Spin-Off from Fidelity National Financial
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Restaurant Company Begins Trading On NYSE Under Symbol JAX
NASHVILLE, Tenn.--(BUSINESS WIRE)--J. Alexander’s Holdings, Inc. (NYSE: JAX), owner and operator of three complementary upscale dining restaurant concepts, announced today the successful completion of its spin-off from Fidelity National Financial (FNF) into an independent publicly-traded company. Effective today, shares of J. Alexander’s Holdings, Inc. common stock have begun trading “regular way” on The New York Stock Exchange under the ticker symbol “JAX.”
“For more than 20 years, the J. Alexander’s team has provided its guests quality dining with a contemporary American menu and high levels of customer service in restaurants with an attractive ambiance,” said Lonnie J. Stout II, Chairman, President and Chief Executive Officer of J. Alexander’s Holdings, Inc. “Our business plan has evolved to include a collection of restaurant concepts – J. Alexander’s, Stoney River Steakhouse and Grill, and Redlands Grill. With these concepts, we are well-positioned to continue to scale and grow our overall restaurant business in an efficient manner in urban and affluent suburban areas.”
J. Alexander’s Holdings, Inc., which presently has 41 restaurants across 14 states, recently signed leases to develop two new J. Alexander’s restaurants, one in Lexington, KY and one in Raleigh, NC, and a new Stoney River Steakhouse and Grill in Germantown, TN near Memphis. Stout said the Company also has begun to transition 12 J. Alexander’s to Redlands Grill restaurants, a third concept in the award-winning, upscale collection owned and operated by J. Alexander’s Holdings, Inc.
“We are excited with the opportunities these restaurants bring to J. Alexander’s Holdings,” Stout continued. “We want each of our restaurants to be perceived by our guests as a locally-managed, stand-alone dining experience. This differentiation permits us to successfully operate each of our concepts in the same geographic market.
“With the successful completion of this spin-off transaction, we believe that we can more effectively execute on our strategic plans for organic growth. We are confident about the new opportunities ahead in the next chapter of our journey,” Stout added.
About J. Alexander’s Holdings, Inc.
J. Alexander’s Holdings, Inc. owns and operates three complementary restaurant concepts: J. Alexander’s, Redlands Grill and Stoney River Steakhouse and Grill. J. Alexander’s, founded in 1991, offers guests a quality upscale dining experience focusing on made-from-scratch menu items and featuring prime rib of beef, hardwood-grilled steaks, seafood and chicken, pasta, salads, soups and assorted sandwiches, appetizers and desserts. Redlands Grill, introduced in the first quarter of 2015, offers a high quality sushi program, a signature coffee-cured ribeye, and made-from-scratch flatbreads. Stoney River, founded in 1996, features an emphasis on a high quality steakhouse menu, but also includes house specialties ranging from pasta and chicken to shrimp and salmon. All three concepts offer signature cocktails and broad wine lists.
J. Alexander’s Holdings, Inc. has its headquarters in Nashville, TN.
This press release, issued by J. Alexander’s Holdings, Inc. (the Company), contains forward‐looking statements, which include all statements that do not relate solely to historical or current facts, including statements regarding our expectations, intentions or strategies regarding the future. These forward‐looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including the Company’s ability to maintain satisfactory guest count levels and maintain or increase sales and operating margins in its restaurants under varying economic conditions; the effect of higher commodity prices, unemployment and other economic factors on consumer demand; increases in food input costs or product shortages and the Company’s response to them; the number and timing of new restaurant openings and the Company’s ability to operate them profitably; competition within the casual dining industry; as well as other risks and uncertainties described under the headings "Forward-Looking Statements," "Risk Factors" and other sections of the Company’s Registration Statement on Form 10 filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
J. Alexander’s Holdings, Inc.
Mark Parkey, 615-269-1900