The fast casual, MOOYAH Burgers, Fries & Shakes has announced this week that an affiliate of Balmoral Funds LLC and Gala Capital Partners, LLC will be acquiring the brand.
The chain just celebrated its 10th anniversary and in 2016 MOOYAH opened its 100th store, along with expanding into several new states, including New York, Texas, Florida and California.
The chain’s executive management team will lead the transition of ownership from the co-founders Rich Hicks and Todd Istre to the new owners.
"The past decade has been incredibly fulfilling, having grown MOOYAH from that first location to opening our 100th unit last summer. I am excited to see what the next decade has in store for MOOYAH," said Hicks in a press release. "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 ten years. The company is gaining a partner who shares a vision of intelligent growth behind a solid franchisee foundation."
Gala, a private investment company, has invested in multiple brands on the rise, including Jack in The Box, Del Taco, and Applebee’s.
"We had been looking to invest in a fast casual brand that had high consumer appeal and the potential for faster growth. MOOYAH had both, as well as a franchisee-first culture embraced by its executive leadership team. I believe MOOYAH is ready to become a household name,” said Anand Gala, president and CEO at Gala Corporation, who currently owns and operates the largest Famous Dave's BBQ franchisee.
According to Foodable Labs data, MOOYAH sentiment score (88.19 out of 100) is at the highest it has ever been. The multi-variant sentiment is based on a variety of terms and locations relative to food, service, and overall brand Eeperience, providing a much more accurate consumer sentiment score than any other system out there.
Even though this means that the chain is primed for growth, MOOYAH’s new founder is going to focus on finding the right operators to expand with the brand.
"It is our job to lead our existing franchisees to even greater success and to be selective of the prospective franchisees who want to join the MOOYAH team. We are ready for increased growth but with those who share the same vision and commitment to greatness the brand has built over the last decade,” said Gala.
Do you think MOOYAH has what it takes to thrive in the competitive better-burger category?