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A Howard University alum has acquired the Fuddruckers Franchise in a deal worth almost $18.5 million.
Nicholas Perkins, a Howard University alumnus, has agreed to a deal with Fuddruckers’ parent company, Luby’s, to purchase 92 Fuddruckers locations across the country as well as the land underneath.
Perkins’ alma mater announced the deal on the university’s Twitter page.
“I feel very honored. I feel very blessed, excited about the future. I’ve got a lot of work to do but at the same time it’s going to be very very impactful to be a part of what I consider to be a reemergence of the worlds’ greatest hamburger,” Perkins said in an interview with Houston’s KPRC 2.
As part of their liquidation process, Luby’s said they contacted 150 potential buyers before accepting Perkins’ bid, which was the highest.
Perkins already owns and operates 13 franchise restaurants with plans to acquire more.
Who Is Nicholas Perkins
Nicholas Perkins is currently the CEO of Black Titan Franchise Systems, the company that will be owner of the Fuddruckers restaurants. Black Titan Franchise Systems is under the umbrella of Perkins’ Black Titan Enterprises, which also operates Perkins’ foodservice management company, Perkins Management Systems, which runs the foodservice operations of colleges, healthcare and government facilities, and sports and entertainment events.
Perkins earned his Bachelor of Science degree in Business Administration and Management from Fayetteville State University, and later a Master of Business Administration from Howard University.
According to Howard University, Perkins is the first African American with 100% ownership of a national burger franchise.
“We’re excited to be purchasing Fuddruckers and look forward to working with Fuddruckers’ many dedicated, highly capable franchisees to further build this brand,” Perkins said. “As a Fuddruckers franchisee, I have a vested interest in ensuring that all Fuddruckers franchisees have the resources, infrastructure, and operational and marketing support they need to maximize their return on investment. This strategic alignment, when combined with the fact that we sell the ‘World’s Greatest Hamburgers’, will ensure the long-term success of the brand and our franchisees.”