Exhibit 99.1
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Contact:
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Back Yard Burgers, Inc.
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Michael G. Webb
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Chief Financial Officer |
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(901) 367-0888 Ext. 1226 |
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BACK YARD BURGERS COMPLETES MERGER
MEMPHIS,
Tennessee (November 5, 2007) Back Yard Burgers, Inc. (NASDAQ:BYBI) announced today the completion of the previously announced merger of Back Yard Burgers with BBAC
Merger Sub, Inc., a wholly-owned subsidiary of BBAC, LLC. As a result of the transaction, which Back
Yard Burgers stockholders previously approved on August 3, 2007, each issued and outstanding share
of Back Yard Burgers common stock and preferred stock was canceled
and (other than shares held by BBAC or in the treasury of the
Company) converted automatically into
the right to receive $6.50 in cash, without interest. The total value of the transaction, including
assumed debt, was approximately $38 million.
As a result of the merger, Back Yard Burgers common stock will cease to trade on the NASDAQ Capital
Market at the close of the market today and will be delisted. Back Yard Burgers stockholders who
possess stock certificates will receive instructions by mail from Computershare, the paying agent,
about how and where to forward their certificates for payment. Stockholders of record should wait
to receive this information before surrendering their shares. Stockholders who hold shares of Back
Yard Burgers common stock through a bank or broker will not have to take any
action to have their shares converted into cash, since these conversions will be handled by their
bank or broker.
About Back Yard Burgers
Back Yard Burgers operates and franchises quick-service restaurants in 20 states, primarily in
markets throughout the Southeast region of the United States. The restaurants specialize in
charbroiled, freshly prepared, great-tasting food. As its name implies, Back Yard Burgers strives
to offer the same high-quality ingredients and special care typified by outdoor grilling in the
backyard. Its menu features made-to-order gourmet Black Angus hamburgers and chicken sandwiches -
charbroiled over an open flame, fresh salads, chili and other specialty items, including
hand-dipped milkshakes, fresh-made lemonade and fresh-baked cobblers.