You know things are tough when Fidelit National y, one of the world’s largest title insurers, decides to further diversify by purchasing restaurants. The web was abuzz today with news from everyone. The Wall Street Journal stated
“Here’s a deal that seems a bit odd on the surface: Fidelity National Financial is taking over O’Charley’s.
That makes a title insurer meets casual dining merger, not exactly a classic combo-platter like O’Charley’s surf and turf.
But for Fidelity National, it apparently fulfills a recent checklist,…”
Bloomberg has a much more detailed description of the philosophy, in an article entitled “Fidelity CEO Seeks Restaurants as Insurance Focu Narrows.” Under the current circumstances it seems to make sense! After all, everyone has to eat.