Aug. 29 at 11:24 AM
$RMCF Let's separate what's fact from what's rumor, because this board is mixing them.
Fact (8-K, Aug 11): Board is exploring strategic alternatives; sale, merger, other business combination, or going private. Third-party expressions of interest already received. Company explicitly says no further updates unless the board approves a transaction.
Also fact: ~20.8% held by GVIC affiliates, ~15.9% by ARM-D. Covenant waiver in the 10-K runs to Aug 31.
Also facts: LLCP's stated reason for buying Kilwins was geographic whitespace: a strong base of stores in the Midwest and Southeast, but massive areas of the US map were still missing. LLCP/Kilwins is set to buy up locations in Texas, Arizona and New Mexico.
RMCF is Durango-based with over 250 stores across the United States plus international locations. The Mountain West and Southwest are precisely the territory Kilwins is spending money to enter organically. Buying RMCF is buying that map.
Long. Not advice.
