Franchise Group Inc. FRG is the parent company of many franchised businesses, including Pet Supplies Plus and Wag N’ Wash. It also owns American Freight, The Vitamin Shoppe, American Freight, American Freight, among others. On Wednesday, it announced that it had agreed to be bought by a consortium headed by its senior management in a $2.6 billion deal, including debt. Franchise Group shareholders are entitled to receive $30 per share in cash under the terms of the agreement. This is a 31.9% premium over the price of each share on March 17, which was the last trading date before the company announced it received an unsolicited offer. The independent directors of the company have approved the deal on the basis of the recommendation.