FERNDALE Mich. Burger King franchisees Clyde Culp and Rodger Head have teamed up with the private-equity firm Kinderhook Industries PLC to acquire BD’s Mongolian Grill, a privately held Mongolian barbecue concept with 33 outlets. The sellers were not identified and terms of the deal were not disclosed.
An announcement from Duke and King, the 97-unit BK franchise run by Culp and Head, said that Head has already assumed the posts of president and chief executive from BD’s founder Billy Downs. It also indicated that Downs would continue to be involved in day-to-day operations, though it did not say in what capacity.
With “the financial backing of Kinderhook, there is capital in place along with an experienced board and management team to aggressively ramp up franchising and develop this brand,” Head said in the statement. Kinderhook is also an investor in Duke and King, which is based in Minneapolis, and in Mastro’s, a California-based dinnerhouse group.
Culp has been involved, either as an executive or a franchisee, with a number of restaurant chains, including Shoney’s, Captain D’s, Long John Silver’s, Pusser’s Caribbean Grille, Wendy’s, Krystal and Damon’s.
BD’s consists of 10 company stores and 22 franchised units in 11 states. One franchised unit operates in the country of Mongolia.
The chain’s specialty is a stir-fry of meats, seafood, vegetables and sauces that are chosen by patrons and cooked on flattop grills that measure 6 feet in diameter.
