Black Angus Announces Completion of Planned Management Transition; Appoints David Wolfgram President and CEO

  Black Angus Announces Completion of Planned Management Transition; Appoints
  David Wolfgram President and CEO

Business Wire

LOS ALTOS, Calif. -- September 30, 2013

Black Angus Steakhouse, an iconic chain of 44 steakhouse restaurants in six
western U.S. states, is pleased to announce the appointment of David Wolfgram
as President and Chief Executive Officer, effective October 14, 2013. He
replaces Meredith (Merry) Taylor, who will retire while remaining an advisor,
board member and equity holder of the Company.

Board Chairman Gregory Segall, CEO of controlling shareholder Versa Capital
Management, LLC, stated, “We are pleased to welcome David Wolfgram to Black
Angus Steakhouse to lead the company in its next phase of new restaurant
growth. This is a long-planned transition, and we are very pleased to have
attracted an executive with Dave’s comprehensive restaurant experience and
leadership qualities. He has a great understanding of brand value and has an
excellent track record of successful business expansion. We look forward to
working with Dave and seeing Black Angus continue to deliver memorable dining
experiences and innovative programs as its new store growth initiatives
accelerate.”

Mr. Wolfgram brings to Black Angus a 37-year career in restaurant management.
Most recently, he served as President and Chief Executive Officer of Boudin
Bakery and Go Roma Real Easy Italian Kitchen, where he orchestrated the
turnaround of the iconic Boudin brand. Prior to Boudin, he served with Brinker
International, Inc., as President and Chief Operating Officer of the Corner
Bakery Café, which he co-founded along with Maggiano’s Little Italy in 1991
while serving with Lettuce Entertain You Enterprises in Chicago.

Mr. Wolfgram noted that “the Black Angus brand has been known for nearly 50
years in our industry, and I am excited to join the team. I look forward to
meeting our employees and visiting many of our restaurants in the coming weeks
and months. I see many opportunities to bring the Black Angus experience – and
create new elements of that experience – to new markets in the West.”

Mr. Segall commented that “after leading Black Angus Steakhouse to 16
consecutive quarters of ‘same-store-sales’ increases, we thank Merry Taylor
for so successfully restoring Black Angus to its position as a preferred
destination for its customers. This was accomplished by contemporizing the
brand, dramatically improving the product and service, and rolling out the
extremely successful ‘BullsEye Bar’ initiative across the chain. When we
acquired Black Angus Steakhouse, an early task was bringing Merry Taylor back
to a place she knew so well, and under her leadership Black Angus Steakhouse
has exceeded our expectations. I speak for everyone at Black Angus Steakhouse
when I wish Merry the very best in her retirement. We are pleased that she
will continue to make contributions to the company as an advisor, equity
holder and director.”

About Black Angus Steakhouse

Founded in 1964 by rancher Stuart Anderson, Black Angus has a long history of
providing customers the best steak dinners at affordable prices. The company
now operates 44 locations in Alaska, Arizona, California, Hawaii, New Mexico,
and Washington. Some locations also carry a high-concept, branded Bulls Eye
Sports Bar that has distinguished the chain from its competitors. Black Angus
has received numerous recent acknowledgements of its leading customer appeal
and was recently named one of the top three steakhouses in the U.S. by Fox
News. For more information, visit www.blackangus.com.

About Versa Capital Management

Philadelphia-based Versa Capital Management is a private equity investment
firm with $1.3 billion of assets under management. For more information, visit
www.Versa.com.

Contact:

The Abernathy MacGregor Group, Inc.
Rivian Bell, 213.630.6550
rlb@abmac.com
or
Chuck Dohrenwend, 212.371.5999
cod@abmac.com
 
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