Balmoral Funds, Gala Capital Partners Acquire MOOYAH Burgers, Fries & Shakes
MOOYAH Burgers, Fries & Shakes, a fast-casual, "better burger" chain, said it was acquired by an affiliate of Balmoral Funds LLC ("Balmoral"), a lower-middle-market private equity firm, and Gala Capital Partners, LLC ("Gala Capital"), a private investment company with a focus on hospitality and food service franchises in the United States.
The announcement comes as MOOYAH celebrates its tenth anniversary and the company is focused on continued growth in the next ten years. In 2016, MOOYAH surpassed the all-important 100-unit milestone. The booming "better burger" brand entered several new states in 2016, while also expanding its presence in California, Texas, Florida and New York.
Under the terms of the acquisition, MOOYAH will no longer be part of Reach Restaurant Group. MOOYAH'S executive leadership team will remain in their roles and Michael Mabry, president and chief operating officer of MOOYAH, will lead the transition to new ownership from the company's co-founders, Rich Hicks and Todd Istre.
"The past decade has been incredibly fulfilling, having grown MOOYAH from that first location to opening our 100th unit last summer. I am excited to see what the next decade has in store for MOOYAH," Hicks said. "The team from Balmoral and Gala Capital are committed to excellence and see the true potential in a brand that has grown steadily for the last ten years. The company is gaining a partner who shares a vision of intelligent growth behind a solid franchisee foundation."
MOOYAH's new ownership groups bring more than three decades of restaurant industry experience as well as an extensive understanding of the franchise model to the emerging brand. Gala has owned, developed and operated multiple franchise locations of brands such as Applebee's, Jack in The Box, Seattle's Best Coffee and Del Taco. Through an affiliate, he currently owns and operates the largest Famous Dave's BBQ franchisee, and currently serves on the brand's Board of Directors.
"I've known Anand for the past four years. We had regularly discussed the endless possibilities for the MOOYAH brand, if provided the right funding and expertise. He and his team, along with Balmoral, bring this, and more, to the table," Mabry said. "We are entering a new, higher stage of growth with this partnership. The passion and emotion of our MOOYAH corporate team is unmatched in the industry, and they now have the opportunity to grow the brand, and themselves, to their fullest potential. That's the type of company that I wanted to be a part of and build, and now we have the chance to take it to the next level."
Members of the Balmoral and Gala Capital teams will join the Board of Directors and participate as needed but the majority of the MOOYAH management team is staying with the brand in their capacities and will be focused on its growth and success as part of the vision to continue the brand's successful trajectory and momentum.
The announcement comes as MOOYAH celebrates its tenth anniversary and the company is focused on continued growth in the next ten years. In 2016, MOOYAH surpassed the all-important 100-unit milestone. The booming "better burger" brand entered several new states in 2016, while also expanding its presence in California, Texas, Florida and New York.
Under the terms of the acquisition, MOOYAH will no longer be part of Reach Restaurant Group. MOOYAH'S executive leadership team will remain in their roles and Michael Mabry, president and chief operating officer of MOOYAH, will lead the transition to new ownership from the company's co-founders, Rich Hicks and Todd Istre.
"The past decade has been incredibly fulfilling, having grown MOOYAH from that first location to opening our 100th unit last summer. I am excited to see what the next decade has in store for MOOYAH," Hicks said. "The team from Balmoral and Gala Capital are committed to excellence and see the true potential in a brand that has grown steadily for the last ten years. The company is gaining a partner who shares a vision of intelligent growth behind a solid franchisee foundation."
MOOYAH's new ownership groups bring more than three decades of restaurant industry experience as well as an extensive understanding of the franchise model to the emerging brand. Gala has owned, developed and operated multiple franchise locations of brands such as Applebee's, Jack in The Box, Seattle's Best Coffee and Del Taco. Through an affiliate, he currently owns and operates the largest Famous Dave's BBQ franchisee, and currently serves on the brand's Board of Directors.
"I've known Anand for the past four years. We had regularly discussed the endless possibilities for the MOOYAH brand, if provided the right funding and expertise. He and his team, along with Balmoral, bring this, and more, to the table," Mabry said. "We are entering a new, higher stage of growth with this partnership. The passion and emotion of our MOOYAH corporate team is unmatched in the industry, and they now have the opportunity to grow the brand, and themselves, to their fullest potential. That's the type of company that I wanted to be a part of and build, and now we have the chance to take it to the next level."
Members of the Balmoral and Gala Capital teams will join the Board of Directors and participate as needed but the majority of the MOOYAH management team is staying with the brand in their capacities and will be focused on its growth and success as part of the vision to continue the brand's successful trajectory and momentum.