Newriders to Merge, Go Public Thursday
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Newriders Inc. shareholders on Tuesday approved mergers that will create a new, publicly traded company that operates restaurants and provides products and services to motorcycle enthusiasts.
Newport Beach-based Newriders will merge with Paisano Publications and the small El Paso Bar-B-Que restaurant chain to form Easyriders Inc. Stock will trade Thursday on the American Stock Exchange under the symbol EZR.
Newriders--headed by former Taco Bell Corp. Chairman John Martin--operates an Easyriders Cafe in South Carolina. A cafe in Fresno is being converted into an El Paso Bar-B-Que restaurant.
Agoura-based Paisano is a 27-year-old publishing, retailing and events-management company that publishes 12 motorcycle-oriented magazines, including Easyriders, and owns themed restaurants. The company has 35 retail stores that sell and repair motorcycles. It also conducts special events, such as rodeos and demolition derbies.
Easyriders Inc. will be based at Paisano’s Agoura headquarters. The deal calls for Newriders shareholders to exchange two shares of their stock for one share of Easyriders stock.
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