March 06, 2007

Biggest tribal buy ever

Seminoles mark largest single acquisition by American Indian tribe The Tribal Council signed a ceremonial resolution to buy Hard Rock International Inc. for $965 million from London-based Rank Group PLC--the largest single acquisition by an American Indian tribe. The Hard Rock deal gives the tribe a foothold in the restaurant and hotel industries, adding to its thriving Seminole Hard Rock Hotel and Casino complexes near Hollywood and Tampa.

The tribe bought the Hard Rock brand name, the world's largest collection of music memorabilia and 68 company Hard Rock Café restaurants, primarily in the United States. The Seminoles also acquired licensing or franchise agreements for 56 more restaurants, five hotels and two Hard Rock Live! concert venues.

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