Buffalo Wild Wings Acquires Majority Stake In Rusty Taco
Buffalo Wild Wings announced on Monday that it has added another “fast-casual” restaurant chain to its investment portfolio by buying a majority investment in Dallas-based Rusty Taco Inc.
The move comes a year after the Golden Valley-based chicken wing chain announced a minority stake in Los Angeles make-your-own-pizza chain, Pizza Rev. Buffalo Wild Wings’ latest investment again saw the company branch out into another restaurant concept. Rusty Tacos opened its first restaurant in Dallas in 2010 and now has nine locations where its restaurants and food trucks sell street-style tacos—including three in the Twin Cities area: Minneapolis, St. Paul and Maple Grove.
Buffalo Wild Wings did not disclose terms of Monday’s deal. Kathy Benning, the company’s executive vice president and chief strategy officer, said in a statement that the latest move was part of Buffalo Wild Wings’ plan to partner with emerging restaurant concepts that have the potential for significant growth and can work at locations around the country.
Founded in 1982 and one of Minnesota’s 30 largest public companies, Buffalo Wild Wings now has more than 1,030 locations in the United States, Canada and Mexico. Plans to expand into Canada and Mexico began in 2011 and the company also unveiled plans in 2012 to open restaurants in the Middle East and Puerto Rico.
Buffalo Wild Wings’ stock price was up more than 2 percent at $147.47 after noon Monday. Earlier this month, the company announced a second-quarter revenue increase of more than 20 percent and a net income increase of nearly 44 percent.
Buffalo Wild Wings acquired a minority stake in Pizza Rev in March 2013, also a restaurant chain that bills itself as a “fast-casual” dining experience. Since the investment, Pizza Rev has opened two Minnesota locations— one each in Hopkins and Edina—this year.