Schapp’s Enterprises, LLC Has Sold Its Restaurant Operating Assets to Buffalo Wild Wings, Inc.

HOUSTON, January 7, 2013 – GulfStar is pleased to announce that the Restaurant Operating Assets of Schapp’s Enterprises, LLC (“Schapp’s” or the “Company”) have been acquired by Buffalo Wild Wings, Inc. (“Buffalo Wild Wings”). GulfStar served as exclusive financial advisor to Schapp’s throughout the transaction, which closed on December 12, 2012.

Founded in 1995, Schapp’s is a multi-unit franchisee of Buffalo Wild Wings in the Houston area, and is majority-owned and managed by Stephen Chappelear, a successful entrepreneur with significant restaurant operating experience.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Buffalo Wild Wings is a growing owner, operator and franchisor of Buffalo Wild Wings Grill & Bar™ restaurants featuring a variety of boldly-flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings.

“The Schapp’s team greatly enjoyed working with GulfStar on this important transaction. Their collective professionalism, market insights, process knowledge and proactivity enabled us to achieve a solid transaction outcome in a highly compressed timeframe,” said Chappelear.

The GulfStar transaction team included Managing Director Scott Winship, Managing Director Colt Luedde and Associate Chase Stanzel. “We congratulate Stephen on 17 years of terrific execution in the Houston market, and for being a true ambassador for the Buffalo Wild Wings brand here in the region,” said Winship. “The very strong operating characteristics of Schapp’s, in conjunction with the healthy and growing economic climate in Houston, served as an ideal backdrop for our client to achieve his long-term estate planning objectives and for Buffalo Wild Wings to purchase a very attractive asset as part of its successful, long-term strategy of reacquiring strong franchise operations in shared markets.”

About GulfStar Group
GulfStar is a leading middle market investment and merchant bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 575 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.

Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC.