The "better burger" fast-casual brand MOOYAH Burgers, Fries & Shakes is now positioned for rapid growth thanks to the acquisition of its franchise business brand by a Balmoral Funds, LLC affiliate and Gala Capital Partners, LLC. This announcement comes as the burger brand marks its tenth anniversary and the company focuses on its continued growth over the next decade. During 2016, the burger chain passed the 100-unit milestone and entered many new markets while expanding its footprint in New York, Texas, California and Florida.
Under the acquisition terms, the burger brand's executive team will stay in their roles and the company will be leaving the Reach Restaurant Group. Brand CEO and President Michael Mabry will lead the new ownership transition from the company's founders, Todd Istre and Rich Hicks. According to Hicks, the last ten years have been especially fulfilling for the co-founders, and they are excited to see what is in store over the next ten years for the brand.
The new ownership group is bringing over 30 years of experience in the restaurant industry and extensive knowledge regarding the franchise model of an emerging brand. Gala has developed, owned and operated several major franchise brand locations. Members of Both Balmoral and Gala will join MOOYAH's Board of Directors and take part as needed, but most of the brand's current management team is staying in place and will be focusing on its growth and continuing success.
Founded in 2007, the Texas-based MOOYAH Burgers, Fries & Shakes is a better burger concept offering made-to-order burgers, real ice cream shakes and hand-cut French fries, and it has been a regular entry on Fast Casual Magazine's "Movers & Shakers" list. Those who qualify for franchise opportunities with this exciting brand will have a net worth of $600,000-plus and liquid assets of at least $250,000 available. The franchise fee is $35,000, and the initial investment ranges from $373,350 to $623,300.