According to a securities filing released yesterday, Chanticleer Holdings, the North Caroline-based holding company that owns Hooters and several gourmet burger franchises on the East Coast, paid $6.1 million for Little Big Burger. Chanticleer Holdings now owns the Portland-based burger chain's eight locations, as well as the forthcoming location in Southeast, slated to open late 2015. Of the $6.1 million paid to former Little Big Burger-owners Micah Camden and Katie Poppe, who also own Blue Star Donuts, Boxer Ramen, and Son of a Biscuit, $3.6 million was cash, and $2.5 million was stocks.
Little Big Burger Sold, Price Released
How much will it cost with all the fixings?
Speaking with Eater on Monday, Chanticleer Holdings CEO Mike Pruitt said that Chanticleer won't change the Little Big Burger concept. "We're not really a buyer who buys things with the hope to change them," said Pruitt. "We're more of a buyer who buys things that are working, to provide capital and resources to help them grow." The only potential change announced by Pruitt is to expand Little Big Burger to Seattle or Boise.
Camden and Poppe opened the first Little Big Burger location in the Pearl in 2010.