Balmoral Affiliate Partners with Gala Capital to Acquire US Fast Casual China Mooyah Burgers.
M2 EQUITYBITES-May 5, 2017-Balmoral Affiliate Partners with Gala Capital to Acquire US Fast Casual China Mooyah Burgers
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5 May 2017 - California, US-based private equity firm Balmoral Funds LLC affiliate has partnered with California, US-based private investment company Gala Capital Partners, LLC have acquired Texas, US-based fast casual restaurant chain Mooyah Burgers, Fries and Shakes from Reach Restaurant Group, the companies said.
Meat and Poultry news reported financial details of the transaction were not disclosed.
Restaurant News reported Gala Capital Partners said Mooyah Burgers' food, management and franchisee base attracted the private-equity funds to the brand, and that the brand would benefit from new equity investors.
The announcement of the acquisition 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 100-unit milestone. The brand entered several new states in 2016, while expanding its presence in California, Texas, Florida and New York.
Members of the Balmoral and Gala Capital teams will join the board of directors and participate as needed. The majority of the Mooyah management team is staying with the brand in their capacities and will be focused on its growth.
Balmoral is a Los Angeles, CA based private equity fund that was founded in 2005. Balmoral currently has more than USD 200m of assets under management and focuses on partnering with talented and committed management teams to invest in and revitalise companies.
The firm invests in companies that have revenues between USD 30m to USD 300m and require equity investments of USD 5m to USD 30 m.
Gala Capital Partners, LLC focuses on hospitality and food service franchises ranging from 20-200 units in the United States.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 5, 2017|
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