Versa Capital-backed Black Angus Steakhouse names new president/CEO

Black Angus Steakhouse, which is backed by Versa Capital Management, said Tuesday that it has named David Wolfgram as president and CEO. The appointment is effective October 14, 2013. Wolfgram succeeds Meredith Taylor, who is retiring but will remain as an advisor and board member. Previously, Wolfgram was president and CEO of Boudin Bakery and Go Roma Real Easy Italian Kitchen. Black Angus Steakhouse is a restaurant chain.

PRESS RELEASE

LOS ALTOS, Calif. – September 30, 2013– Black Angus Steakhouse, an iconic chain of 44 steakhouse restaurants in six western U.S. states, is pleased to announce the appointment of David Wolfgram as President and Chief Executive Officer, effective October 14, 2013. He replaces Meredith (Merry) Taylor, who will retire while remaining an advisor, board member and equity holder of the Company.
Board Chairman Gregory Segall, CEO of controlling shareholder Versa Capital Management, LLC, stated, “We are pleased to welcome David Wolfgram to Black Angus Steakhouse to lead the company in its next phase of new restaurant growth. This is a long-planned transition, and we are very pleased to have attracted an executive with Dave’s comprehensive restaurant experience and leadership qualities. He has a great understanding of brand value and has an excellent track record of successful business expansion. We look forward to working with Dave and seeing Black Angus continue to deliver memorable dining experiences and innovative programs as its new store growth initiatives accelerate.”
Mr. Wolfgram brings to Black Angus a 37-year career in restaurant management. Most recently, he served as President and Chief Executive Officer of Boudin Bakery and Go Roma Real Easy Italian Kitchen, where he orchestrated the turnaround of the iconic Boudin brand. Prior to Boudin, he served with Brinker International, Inc., as President and Chief Operating Officer of the Corner Bakery Café, which he co-founded along with Maggiano’s Little Italy in 1991 while serving with Lettuce Entertain You Enterprises in Chicago.
Mr. Wolfgram noted that “the Black Angus brand has been known for nearly 50 years in our industry, and I am excited to join the team. I look forward to meeting our employees and visiting many of our restaurants in the coming weeks and months. I see many opportunities to bring the Black Angus experience — and create new elements of that experience – to new markets in the West.”
Mr. Segall commented that “after leading Black Angus Steakhouse to 16 consecutive quarters of ‘same-store-sales’ increases, we thank Merry Taylor for so successfully restoring Black Angus to its position as a preferred destination for its customers. This was accomplished by contemporizing the brand, dramatically improving the product and service, and rolling out the extremely successful ‘BullsEye Bar’ initiative across the chain. When we acquired Black Angus Steakhouse, an early task was bringing Merry Taylor back to a place she knew so well, and under her leadership Black Angus Steakhouse has exceeded our expectations. I speak for everyone at Black Angus Steakhouse when I wish Merry the very best in her retirement. We are pleased that she will continue to make contributions to the company as an advisor, equity holder and director.”
About Black Angus Steakhouse
Founded in 1964 by rancher Stuart Anderson, Black Angus has a long history of providing customers the best steak dinners at affordable prices. The company now operates 44 locations in Alaska, Arizona, California, Hawaii, New Mexico, and Washington. Some locations also carry a high-concept, branded Bulls Eye Sports Bar that has distinguished the chain from its competitors. Black Angus has received numerous recent acknowledgements of its leading customer appeal and was recently named one of the top three steakhouses in the U.S. by Fox News. For more information, visit www.blackangus.com.
About Versa Capital Management
Philadelphia-based Versa Capital Management is a private equity investment firm with $1.3 billion of assets under management. For more information, visit www.Versa.com