Because the pandemic took maintain and began rocking Luby’s already shaky monetary footing, Nicholas Perkins’ curiosity was piqued.
He’d all the time been a fan of its Fuddruckers hamburger chain and wished to know what would turn out to be of the model he liked a lot. He reached out to Chris Pappas, who was then Luby’s CEO, and expressed curiosity in shopping for it. That was step one in what Perkins described as a “sturdy and aggressive” bidding course of that spanned practically a yr and concerned greater than 100 firms. It resulted in an settlement reached final month for Perkins’ Black Titan Franchise Methods to purchase the enterprise in a deal valued at $18.5 million.