Brinker International today announced it will sell a majority stake in Romano's Macaroni Grill to a private equity firm.
Dallas-based Brinker will sell most of its stake to Mac Acquisition - a unit of San Francisco-based Golden Gate Capital - for $131.5 million in cash.
Brinker will then turn over six million dollars to Mac Acquisition in order to hold onto a nearly 20% stake in the brand.
Golden Gate Capital declined comment.
A Brinker spokesman says Golden Gate is an experienced consumer and retail investor and has a record of partnering with corporations to help grow established brands.
Brinker also owns Chili's, Maggiano's Little Italy and On The Border Mexican Grill & Cantina.