Sadot Group Inc. Signs LOI for Sale of Restaurant Concepts

Sadot Group Inc., based in Burleson, Texas, has announced the signing of a letter of intent to divest its restaurant chains, Pokemoto and Muscle Maker Grill, for $4.25 million. This move aims to shift the company's focus entirely to the agri-food sector.

The details of the transaction include a $100,000 deposit, $2.5 million in cash at closing, and $1.75 million in secured notes over 72 months. Completion is expected within 30 to 45 days, pending final agreements and due diligence.

CEO Chagay Ravid highlighted potential cost savings in insurance and human resources post-transaction. The company commits to updating shareholders as developments occur. The divestiture aligns with Sadot's strategic focus on global food supply chain operations.