Management team includes former Lion's Choice executive and principals from Millstone Capital Advisors.
Former Lion's Choice executive Mark Disper, in partnership with the principals of St. Louis-based Millstone Capital Advisors, purchased the Lion's Choice Restaurant chain from Red Lion Beef Corp. Terms of the deal were not disclosed.
The new operating company will be named LC Corporate, LLC, however, the restaurants will continue to operate under the name Lion's Choice.
Disper, through his investment fund Black Rock Holdings, LLC, will retain partial ownership of LC Corporate, LLC and serve as president and CEO of Lion's Choice. Millstone Capital Advisors, through its investment fund FSM Fund I, will own the remaining share of LC Corporate, LLC. Two of the fund's principals, Bob Millstone and Fred Flegel, will serve with Disper on the new company's Board of Managers. In addition, the chain's founder, Marvin Gibbs, has agreed to serve as an advisor to the new company.
Disper was Gibbs' choice for successor. He built the first Lion's Choice franchise in 2000 and later joined the company as vice president of sales and marketing and president of franchise operations.
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