Mickelson Looks to Buy Waffle House Franchise

Golfer's company makes $20.2 million offer for budget restaurant chain
By Nick McMaster,  Newser Staff
Posted Jul 23, 2009 6:08 PM CDT
Fans line up to see Kid Rock at the Waffle House restaurant in Duluth, Ga., in 2008.   (AP Photo/Stanley Leary)
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(Newser) – Phil Mickelson has made a bid for SouthEast Waffles, a group of 105 Waffle House restaurants in four southern states, the Tennessean reports. Mickelson’s GS Acquisitions offered to buy SouthEast Waffles out of bankruptcy for $20.2 million. Though neither Mickelson nor his two other partners at GS have any restaurant experience, the trio thinks the low-cost chain is a good investment.

"We think in these economic times, they will fare well," said one GS partner.