The founders of Mount Pleasant-based Wild Wing Cafe have sold a controlling stake in the 22-year-old dining chain to a Charlotte investment firm.
Axum Capital Partners said today it acquired a majority ownership position in the business, which operates 11 corporate-owned restaurants and 21 franchised locations in South Carolina, North Carolina, Georgia, Tennessee, Virginia, Texas, and Florida.
The sellers were Cecil and Dianne Crowley, who will remain owners in the company and serve on the board.
Last year, Wild Wing Cafe generated approximately $100 million in sales.
Edna Morris, a managing director with Axum, was interim chief executive officer of the chain. She is a 30-year restaurant industry veteran, and previously she has been president of Red Lobster and Quincy's Family Steakhouse.
"Wild Wing Cafe provides Axum with a proven and well-run concept allowing for strong growth in existing and new markets," Morris said in statement. "Our experienced management team has over 120 years of restaurant experience. With Wild Wing's broad demographic appeal, quality food and superior service, we believe that the concept will sustain and continue to strengthen its competitive position."
The chain was founded in 1990.
The Axum team of buyers includes Muhsin "Moose" Muhammad, a managing director at the private equity firm and a former professional football player for the Chicago Bears and the Carolina Panthers.
For more details, see Thursday's editions of The Post and Courier.