Nath Cos. Buying Axel’s Chain; Plans Franchising

Bizjournals.com:

Nath Cos., one of the state’s largest minority-owned business, has acquired the Axel’s and Bonfire restaurant chains.

Bloomington-based Nath has set up a new entity, Bonfire Restaurant Co., to operate 2 Axel’s and 6 Bonfire restaurants in the Twin Cities and continue to support an additional 3 Axel’s and 1 Bonfire operating under license agreements. Nath President and Chief Financial Officer Ken Stanecki will lead the operations.

Nath has operated a licensed Axel’s location at its Radisson Hotel Roseville since 2001.

Terms of the deal haven’t been disclosed.