Private Equity Firm Buying Bob Evans Farms

New Albany-based Bob Evans Farms is out of the restaurant business.  The company is selling all of its restaurants to turn its attention to packaged foods.  A California company, Golden Gate Capital, is paying 565 million dollars for the restaurant chain, including the assumption of certain net working capital liabilities.  Golden Gate Capital is a private equity firm based in San Francisco that also owns several other restaurant chains. No Bob Evans restaurants will close as a result of the sale. Bob Evans Farms will purchase Pineland Farms Potato Company for 115 million dollars. The company says that price may increase if certain financial marks are achieved within a two-year period after closing.