North Carolina-based Axum Capital Partners has acquired a controlling stake in the 55-unit burger chain Back Yard Burgers from Pharos Capital Group LLC, Nation’s Restaurant News reports.
Terms of the deal were not disclosed. Back Yard Burgers has one Louisiana location, in Siegen Lane Marketplace at 10340 North Mall Drive in Baton Rouge.
A news release says the sale should help the Nashville-based burger chain accelerate its growth.
“Partnering with Axum creates an exciting opportunity for our dedicated franchise partners and loyal team members to reach the next level of success,” CEO David McDougall says in a statement. “”We’re well on our way to becoming the market leader in our category, and we’re thrilled to be working with Axum’s experienced leadership team.”
The deal represents a significant milestone for the chain, which has been working on a turnaround after its post-recessionary decline and subsequent bankruptcy.
