Lafayette firm buys stake in Wing Nutz

Lafayette-based American Restaurant Concepts Inc., which operates 16 Dick’s Wings & Grill restaurants has acquired a 50 percent stake in Wing Nutz, a sports-themed restaurant chain based in Salt Lake City, for $400,000 in cash and $400,000 worth of stock.

Wing Nutz has 10 restaurants in Utah and one in Idaho. The chain plans to open an additional location in Utah and Las Vegas, with plans for six other locations in the western states.

Wing Nutz serves baked chicken wings and other baked foods, as well as a line of craft beers under the “Nut Job Beers” label.

In a separate but related transaction, Lafayette-based equity firm Blue Victory Holdings bought half of Wing Nutz Development LLC, which holds the operating assets and liabilities associated with running the Wing Nutz franchisees.

American Restaurant Concepts Chief Executive Officer Richard Akam said the deal expands the company’s reach into the western half of the country. American Restaurant Concepts now owns part or all of 27 restaurants, up from 16.