Franchise Group Stockholders Approve Proposed Acquisition by Consortium Led by Management Group

DELAWARE, Ohio, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”), announced that at a special meeting of stockholders held earlier today, the stockholders of the Company, including stockholders holding a majority of the outstanding shares of common stock not held by the buying consortium, have approved all proposals related to the proposed acquisition of the Company. The final results will be available on a Current Report on Form 8-K to be filed by the Company. As a result, the closing of the transaction is expected to occur early in the week of August 20^th, subject to the satisfaction of the remaining closing conditions. Shares of Franchise Group will cease trading and will no longer be listed on the NASDAQ exchange following the closing of the transaction.