Rick’s Cabaret announces it has agreed to acquire Cabaret North, an gentlemen’s club in Ft. Worth, Texas.

Upon closing expected Wednesday, September 30, Rick’s Cabaret will pay $2.3 million to acquire 100 percent of the shares of Cabaret North. The acquisition is expected to add revenues of $2.5 to $3 million annually and EBITDA of between $800,000 and $1 million. The company will also receive an option to purchase the five-acre property on which the club sits within 19 months for approximately $2.4 million.