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  "documentTitle": "Bob Evans Farms, Inc. (BOBE)",
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  "authorName": "Sandell Asset Management",
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  "presentationDate": "2013-09-01 00:00:00",
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      "text": "Bob Evans should take steps to unlock the substantial value inherent in these 482 owned restaurant properties.",
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      "text": "Bob Evans owns the real estate of 86% of the Company's restaurants, all of which are expected to be remodeled at significant cost by the end of Fiscal 2014.",
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      "text": "Proceeds from Sale-leaseback: $722.9MM",
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      "text": "Bob Evans Restaurants: # of Owned Properties 482; # of Leased Properties 78; Total # of Restaurants 560; % of Restaurants that are Owned 86.1%",
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      "text": "Average Revenue per Bob Evans Restaurant (2013) $1.75 MM; Number of Owned Bob Evans Restaurants 482; Estimated \"Owned Restaurant\" Revenue $843.5 MM; Estimated Additional Rent Expense @ 6.00% of Revenue $50.6 MM; Estimated Cap. Rate in Sale-Leaseback 7.00%; Proceeds from Sale-Leaseback $722.9MM",
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      "text": "Step 2 - Extract Value from Real Estate via Sale - Leaseback Transaction",
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