Axum Capital Partners, a private equity firm based in Charlotte, NC, has acquired a controlling interest in the 32-unit casual dining restaurant chain, Wild Wing Cafe. This strategic investment signals Axum’s commitment to the restaurant sector and its belief in the growth potential of the Wild Wing Cafe brand.
Axum Capital Partners: Investing in Growth
Axum Capital Partners focuses on investments in education services and the restaurant industry. The firm seeks established companies with a proven track record, broad demographic appeal, and strong leadership. Wild Wing Cafe, with its established presence across multiple states and strong unit economics, perfectly aligns with Axum’s investment criteria. The acquisition allows Axum to leverage its expertise and resources to further enhance the Wild Wing Cafe brand and accelerate its growth trajectory.
A typical Wild Wing Cafe location
Wild Wing Cafe: A Recipe for Success
Founded in 1990 by Cecil and Dianne Crowley, Wild Wing Cafe has become known for its award-winning wings, diverse menu, and lively atmosphere. With 33 unique wing sauces, a range of salads, sandwiches, burgers, and pasta dishes, Wild Wing Cafe caters to a broad customer base. The brand’s focus on live entertainment, including music, karaoke, and sports broadcasts, differentiates it from other casual dining establishments. This unique combination of food and entertainment allows Wild Wing Cafe to attract a diverse clientele throughout the day and evening, from lunch crowds to late-night gatherings.
The interior of a Wild Wing Cafe, showcasing its lively atmosphere
A Shared Vision for the Future
While Axum Capital Partners has acquired a controlling interest, the Crowleys will retain an ownership stake and continue to serve on the board of directors. This partnership ensures a smooth transition and leverages the founders’ deep understanding of the brand and its customers. Edna Morris, a managing director at Axum and a seasoned restaurant industry veteran, has been appointed interim chief executive officer, bringing her extensive experience to guide Wild Wing Cafe’s next phase of growth. Fifth Third Bank provided the debt financing for the acquisition, further solidifying the financial strength of the partnership.
Expanding the Brand’s Reach
Wild Wing Cafe currently operates 11 company-owned restaurants and 21 franchised locations across seven states. The company generated approximately $100 million in systemwide sales in 2011. With Axum’s investment and strategic guidance, Wild Wing Cafe is well-positioned to expand its footprint and introduce its unique dining experience to new markets. The brand’s flexible restaurant model, ranging from 6,000 to 12,000 square feet, allows for adaptation to various locations and demographics. Axum’s focus on providing franchisees with access to financing will be crucial for future expansion efforts.
A selection of Wild Wing Cafe’s signature dishes, highlighting its menu variety
A Strong Foundation for Continued Success
Axum Capital Partners’ acquisition of Wild Wing Cafe represents a significant investment in a brand with a proven track record and significant growth potential. The combination of Axum’s financial strength, strategic expertise, and Edna Morris’ leadership, coupled with the Crowleys’ continued involvement, creates a solid foundation for Wild Wing Cafe’s future success. This strategic partnership is poised to capitalize on the growing demand for high-quality casual dining experiences and further solidify Wild Wing Cafe’s position as a leader in the industry.
