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Black Titan Franchise Systems, a newly formed affiliate owned by Nicholas Perkins, will buy the Fuddruckers franchise system from Luby’s for about $18.5 million. Perkins is set to make history with this deal, making him the largest Fuddruckers franchisee and the first African American with 100 percent ownership of a national burger franchise. That's according to Perkins’ alma mater Howard University.
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Two newcomers to the franchise investment space, Westerly Group and Elmsley Capital helmed by two 30-somethings, bought a majority stake in Lightbridge Academy and aim to accelerate franchise sales from the 57-unit mark on June 21. Founder and former CEO Guy Falzarano becomes chairman of the children’s education franchise and Gigi Schweikert becomes CEO, promoted from president.
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Self Esteem Brands—the parent company of Anytime Fitness, The Bar Method, Basecamp Fitness and Waxing the City—acquired digital nutrition coaching brand Stronger U for an undisclosed amount. The process happened “organically,” starting from about four years ago when a few SEB employees came across Stronger U while looking for nutritional coaching services, said Chuck Runyon, CEO and co-founder of SEB.
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Famous Dave’s Parent To Buy Bakers Square and Village Inn, Plus More Deals
Famous Dave’s parent BBQ Holdings said it plans to buy Village Inn and Bakers Square for $13.5 million after the two chains emerged from federal bankruptcy protection earlier this year.
SPB Hospitality, a franchisor of brands such as Logan’s Roadhouse and Old Chicago Pizza & Taproom, is set to acquire J. Alexander’s Holdings at $14 per share in an all-cash merger, which equates to an equity value of about $220 million.
Fiesta Restaurant Group entered into an agreement to sell 148-unit Tex-Mex chain Taco Cabana to the largest franchisee of Jack in the Box and TGI Friday’s—YTC Enterprises—for $85 million.
Ampex Brands, a Yum Brands and 7-Eleven franchisee with more than 400 restaurants and convenience stores, acquired Au Bon Pain from ABP Corp., a subsidiary of Panera Bread.
Dutch Bros. Coffee filed for an initial public offering on June 16.
Hyde Park Ventures, a private management company, acquired seven Five Guys franchises and a new development territory across Colorado.
Mas Restaurant Group and Bessemer Investments acquired 36 Taco Bell units in Columbus, Ohio, from CL Companies and affiliates.
The Dog Stop received growth capital investment from Franvest Capital Partners.
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Beth Ewen and Callie Evergreen report mergers and acquisitions news in the franchise space in this monthly e-newsletter and an annual Franchise Times editorial project and awards event. Send details of your M&A deals to bewen@franchisetimes.com or cevergreen@franchisetimes.com.
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