Private equity firms acquire Mooyah
May 4, 2017
by MEAT+POULTRY Staff
The Plano, Texas-based chain passed 100-unit milestone in 2016.
DALLAS – Mooyah Burgers, Fries & Shakes, a better-burger fast-casual concept, was recently acquired by Gala Capital Partners and an affiliate of Balmoral Funds LLC. Financial details of the transaction were not disclosed.
Mooyah will no longer be part of Reach Restaurant Group, however the chain’s executive leadership team will remain in their roles. Additionally, Michael Mabry, president and COO of Mooyah, will lead the transition to new ownership from the company’s co-founders, Rich Hicks and Todd Istre.
The acquisition allows the chain to focus on growth. In 2016, Mooyah passed the 100-unit milestone and opened locations in several new states while also expanding its presence in California, Texas, Florida and New York. Mooyah is celebrating 10 years in business.
“The past decade has been incredibly fulfilling, having grown MOOYAH from that first location to opening our 100th unit last summer,” Hicks said. “I am excited to see what the next decade has in store for Mooyah.
“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 10 years,” he said. “The company is gaining a partner who shares a vision of intelligent growth behind a solid franchisee foundation.”
Gala, a private investment firm that specializes in hospitality and foodservice, was founded by Anand Gala. 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, Gala currently owns and operates the largest Famous Dave’s BBQ franchisee, and currently serves on the brand’s board of directors.
Los Angeles-based Balmoral is a private equity fund that currently has more than $200 million of assets under management.