New Owners For Back Yard Burgers
The grass might be greener for Back Yard Burgers under a new owner.
Last month, the 55-unit burger chain was sold by Pharos Capital Group to Axum Capital Partners, a North Carolina private equity firm. Terms of the deal were not disclosed. The deal is a milestone for the 30-year-old Nashville chain. Back Yard Burgers had 180 locations and was considered a pioneer in the fast-casual better burger space but struggled during the recession and filed for bankruptcy in 2012. At the time of the filing it had 85 locations. The company currently has 32 franchised locations and 23 company-owned units in 11 states.