{"id":797607,"date":"2025-01-02T16:44:57","date_gmt":"2025-01-02T21:44:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bjs-restaurants-inc-announces-cooperation-agreement-with-act-iii-holdings\/"},"modified":"2025-01-02T16:44:57","modified_gmt":"2025-01-02T21:44:57","slug":"bjs-restaurants-inc-announces-cooperation-agreement-with-act-iii-holdings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bjs-restaurants-inc-announces-cooperation-agreement-with-act-iii-holdings\/","title":{"rendered":"BJ\u2019s Restaurants, Inc. Announces Cooperation Agreement with Act III Holdings"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">HUNTINGTON BEACH, Calif., Jan.  02, 2025  (GLOBE NEWSWIRE) &#8212; BJ\u2019s Restaurants, Inc. (\u201cBJ\u2019s\u201d or the \u201cCompany\u201d) (NASDAQ: BJRI) today announced that it has entered into a cooperation agreement (the \u201cCooperation Agreement\u201d) with Act III Holdings, LLC and various affiliates of Ronald M. Shaich (collectively with its affiliates, \u201cAct III\u201d).<\/p>\n<p align=\"justify\">\u201cWe are pleased to announce this agreement with Act III and its Managing Partner and Chief Executive Officer, Ron Shaich, who are well regarded for their restaurant industry acumen and results,\u201d said Lea Anne S. Ottinger, Chair of the Board of Directors. \u201cWe are confident they can support the Board, Brad Richmond, the Company\u2019s Interim Chief Executive Officer, and Lyle Tick, the Company\u2019s President and Chief Concept Officer, as we develop and execute against BJ\u2019s vision and strategic plan.\u201d<\/p>\n<p align=\"justify\">\u201cWe are excited to enter into this Cooperation Agreement with BJ\u2019s Restaurants, Inc.,&#8221; said Mr. Shaich, who also founded Panera Bread Company and serves as Chair of the Board of Directors of Cava Group, Inc. \u201cWe strongly support the actions that BJ\u2019s Board of Directors has taken, including the appointment of new leadership to guide the Company through its next chapter of growth and value creation. After engaging with BJ\u2019s Board and management, we are confident in the discipline and financial expertise that Mr. Richmond is bringing to the Company and impressed by Mr. Tick\u2019s vision and strategy for unlocking the full potential of the BJ\u2019s brand. We fully support their focus and ambition and are excited to reaffirm our commitment to the Company. We look forward to collaborating with BJ\u2019s to help them exceed their goals.\u201d<\/p>\n<p align=\"justify\">Act III has agreed to a customary standstill, voting commitment, and related provisions in connection with the Cooperation Agreement. A copy of the Cooperation Agreement is included as an exhibit to the Company\u2019s current report on Form 8-K, which has been filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d).<\/p>\n<p>\n        <strong>About BJ\u2019s Restaurants, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">BJ\u2019s Restaurants, Inc. is a national brand with brewhouse roots where Craft Matters\u00ae. BJ\u2019s broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ\u2019s EnLIGHTened Entrees\u00ae including Cherry Chipotle Glazed Salmon, signature deep-dish pizza and the often imitated, but never replicated world-famous Pizookie\u00ae dessert. The winner of the 2024 Vibe Vista Award for Best Overall Beverage Program for Multi-Unit Chain Restaurants and the most decorated restaurant-brewery in the country, BJ\u2019s has been a pioneer in the craft brewing world since 1996 and takes pride in serving BJ\u2019s award-winning proprietary handcrafted beers, brewed at its brewing operations in four states and by independent third-party craft brewers. The BJ\u2019s experience offers high-quality ingredients, bold flavors, moderate prices, sincere service, and a cool, contemporary atmosphere. Founded in 1978, BJ\u2019s owns and operates over 215 casual dining restaurants in 31 states. All restaurants offer dine-in, take-out, delivery and large party catering. For more BJ\u2019s information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-9LBqU-qmi12rUlPvloNe9TK3UKIwSre8hGRJoN1olOTVvOSGQ66Uk4v3y2Rz8-cG4iJKen4gWa6pM3OyDRdreRwJGE0yuVtuj0emEXHyW7L8K4HCzosG2FHw_C9KroC\" rel=\"nofollow\" target=\"_blank\">http:\/\/www.bjsrestaurants.com<\/a>.<\/p>\n<p>\n        <strong>About Act III Holdings, LLC<\/strong>\n      <\/p>\n<p align=\"justify\">Act III Holdings, LLC is an evergreen investment vehicle formed by Ronald M. Shaich, founder and former Chairman and Chief Executive Officer of Panera Bread, to build tomorrow\u2019s market-leading restaurant and entertainment companies. Act III Holdings, LLC invests in emerging restaurant and entertainment categories and helps build companies which will become the dominant brand in the niches they create and define. Portfolio investments benefit from the industry specific insights and capabilities of Act III and its partners. Existing portfolio investments include Cava Group, Tatte Bakery &amp; Caf\u00e9, Life Alive Caf\u00e9, Level99, BJ\u2019s Restaurant\u2019s Inc., and PAR Technology Corporation. For more information, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=B9rrhx3IztcgfBlB6GQdnPczOJ7fWujncCipLrcFbqPpGj_dal-Zl51ZrPUu8JWXzRGmiEDDP4P4IMD9K8m0XFr2aFck4pfWVDNYwz3tvSBRLRwRySLMw_mduYUDYzdr8ErXad5KOn-lvEwCTUB3PpNx3dIICNitYQo97aZhCcOdcOzxhG6I1477TMNOAu4_82jSU6JvX_hZCfQAlhMhuSIBVOylpSZPlJKCJk4pLfuQaAZAb9TI77Sk5YjzTxTXdFxkskMsJv4Vc-oidyvbkR4kPPhsJ3duu9PLY-STl-NLYbTI73n6JAoKJW6P3Bx9m_cVX29GO-c1155nyFOamcAUpWhpmXmRyOA8Zrv3-5ODyT4e92NHsW84eBTJnPcV9fCRQ90n4tfIAD5J530ARkrMeEUJmHQnWZ_2xQFiYLmRbYmNkGN9INov_DUD9r_NoXNwdD_8FB1yNw531xdABjtm8dZZXjN_KdcrCYyk7xE7u5dlAsDpxCskUKjFUill9hUM0v-fKx31Jd625Mpp9g==\" rel=\"nofollow\" target=\"_blank\">www.act3holdings.com<\/a>.<\/p>\n<p>\n        <strong>Forward Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Statements used in this news release relating to future plans, or events, are forward-looking statements subject to certain risks and uncertainties.\u200b Additional information concerning these and other risks and uncertainties is contained in the Company\u2019s filings with the SEC, including the Annual Report on Form 10-K, and other periodic reports filed with the SEC. The Company has no obligation to publicly update or revise any of the forward-looking statements in this news release.<\/p>\n<p align=\"justify\">\n        <strong>Investor Relations Contact<\/strong>\n      <\/p>\n<p>For further information, please contact Tom Houdek of BJ\u2019s Restaurants, Inc. at (714) 500-2400.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNjAwMyM2Njc1OTcyIzIwMDY1MjI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/NTk3M2U4ZTItNzI1NS00ZWM0LTlmMTItMWM4Zjc0ODRiOGQ5LTEwMTgwOTU=\/tiny\/BJ-s-Restaurants-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HUNTINGTON BEACH, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) &#8212; BJ\u2019s Restaurants, Inc. (\u201cBJ\u2019s\u201d or the \u201cCompany\u201d) (NASDAQ: BJRI) today announced that it has entered into a cooperation agreement (the \u201cCooperation Agreement\u201d) with Act III Holdings, LLC and various affiliates of Ronald M. Shaich (collectively with its affiliates, \u201cAct III\u201d). \u201cWe are pleased to announce this agreement with Act III and its Managing Partner and Chief Executive Officer, Ron Shaich, who are well regarded for their restaurant industry acumen and results,\u201d said Lea Anne S. Ottinger, Chair of the Board of Directors. \u201cWe are confident they can support the Board, Brad Richmond, the Company\u2019s Interim Chief Executive Officer, and Lyle Tick, the Company\u2019s President and Chief Concept Officer, as we develop &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bjs-restaurants-inc-announces-cooperation-agreement-with-act-iii-holdings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BJ\u2019s Restaurants, Inc. Announces Cooperation Agreement with Act III Holdings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-797607","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BJ\u2019s Restaurants, Inc. Announces Cooperation Agreement with Act III Holdings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bjs-restaurants-inc-announces-cooperation-agreement-with-act-iii-holdings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BJ\u2019s Restaurants, Inc. Announces Cooperation Agreement with Act III Holdings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HUNTINGTON BEACH, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) &#8212; BJ\u2019s Restaurants, Inc. (\u201cBJ\u2019s\u201d or the \u201cCompany\u201d) (NASDAQ: BJRI) today announced that it has entered into a cooperation agreement (the \u201cCooperation Agreement\u201d) with Act III Holdings, LLC and various affiliates of Ronald M. Shaich (collectively with its affiliates, \u201cAct III\u201d). \u201cWe are pleased to announce this agreement with Act III and its Managing Partner and Chief Executive Officer, Ron Shaich, who are well regarded for their restaurant industry acumen and results,\u201d said Lea Anne S. Ottinger, Chair of the Board of Directors. \u201cWe are confident they can support the Board, Brad Richmond, the Company\u2019s Interim Chief Executive Officer, and Lyle Tick, the Company\u2019s President and Chief Concept Officer, as we develop &hellip; Continue reading &quot;BJ\u2019s Restaurants, Inc. 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Shaich (collectively with its affiliates, \u201cAct III\u201d). \u201cWe are pleased to announce this agreement with Act III and its Managing Partner and Chief Executive Officer, Ron Shaich, who are well regarded for their restaurant industry acumen and results,\u201d said Lea Anne S. Ottinger, Chair of the Board of Directors. \u201cWe are confident they can support the Board, Brad Richmond, the Company\u2019s Interim Chief Executive Officer, and Lyle Tick, the Company\u2019s President and Chief Concept Officer, as we develop &hellip; Continue reading \"BJ\u2019s Restaurants, Inc. 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