San Diego’s rapidly burgeoning Burger Lounge enterprise has caught the eye of a Connecticut-based private equity firm that will help accelerate the chains’ expansion plans.
Known for its affordable burgers made with organic, grass-fed beef, Burger Lounge currently boasts five restaurants, with a sixth and seventh planned for this year, including the chain’s first in the Los Angeles area. The first restaurant opened in 2007. Each of its three premium burgers sell for $7.95.
Karp Reilly LLC, which focuses its investments on premier small- and mid-size growth companies, had sought out Burger Lounge a year ago, believing that the restaurant was one of the better purveyors of the so-called better burger, said J. Dean Loring, co-owner of the restaurant.
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