A large, local franchisee of Buffalo Wild Wings Grill & Bar has sold its 16 restaurants in central Indiana to a group led by the former president of the Papa John’s pizza chain.
The Indianapolis-based Franchisee Group sold the restaurants for an undisclosed amount to Greenwich, Conn.-based Consolidated Wings Investment LLC.
Periculum Capital Co. LLC in Indianapolis, which brokered the sale for the Franchisee Group, announced the transaction Tuesday afternoon.
Consolidated Wings is led by Dan Holland, the former president of Louisville-based Papa Johns International Inc., and Bill Ogden, the founder and managing director of Granite Capital Partners LLC in Greenwich.
Peter Watson founded the Franchisee Group in 1996 with the opening of a Buffalo Wild Wings restaurant in Lafayette. He grew the company to include 16 restaurants with overall annual revenue of $36 million.
Founded in 1982, Buffalo Wilds Wings is headquartered in Minneapolis. It has 780 locations in 45 states.
Holland was president at Papa John's from 1989 to 1995 and led the company while it grew from 23 units to more than 900.
Consolidated Wings reported to the Securities and Exchange Commission in August that it had raised $7 million in a private offering.