Timber Lodge Steakhouse Tombstone
Quazar Capital Corporation is pleased to announce that their client, Timber Lodge Steakhouse, Inc. has been acquired by Taher Inc.

THE SELLER– Timber Lodge Steakhouse, Inc. is a privately owned, Midwest based, casual dining restaurant with 10 corporate and 2 franchise locations across Minnesota, North Dakota, South Dakota, and Nebraska. Founded in Minnesota in 1991, Timber Lodge Steakhouse features steaks, prime rib, fresh fish, and BBQ ribs in a Northwood’s Lodge atmosphere.

THE BUYER– Taher Inc. based in Minnetonka, Minnesota, provides food service management for schools, senior-housing facilities, and corporate cafeterias in 10 states. Taher Inc. recently became involved in the local restaurant industry with acquisitions of the Wayzata Eatery, Forepaugh’s Restaurant, Nordeast Eatery, and the Alaskan Eatery.

ENTER QUAZAR– Quazar Capital Corporation was retained by the ownership group of Timber Lodge Steakhouse to identify and negotiate strategic growth options for the Company. It was determined that the Company needed to establish a strategic partnership in the industry and/or solicit additional investors to enhance corporate efficiency and promote future growth.

UNIQUE CHALLENGE– Economic uncertainties have had a significant effect on the performance of casual dining restaurants. Over-saturation of restaurant sales and closures were causing business values to drop. Additionally, Timber Lodge Steakhouse was recovering from Chapter 11 bankruptcy protection that was filed in 2006. These obstacles limited the number of interested and motivated buyers. A partnership with the Taher group proved to be an ideal solution.

THE RESOLUTION– Taher Inc. purchased 10 stores and re-opened the Eden Prairie Timber Lodge Steakhouse restaurant. The combined entities should produce $20 million in annual sales. The Company was easily transitioned into the Taher portfolio without many interruptions in operations. Bob Campbell, member of the previous Timber Lodge ownership group said, “I think it’s a very positive change for Timber Lodge, our employees, and our customers, and in the long run for our vendors and everyone else involved.”