Millstone Capital Advisors has agreed to acquire Red Lion Beef Co., which owns the St. Louis, Mo.-based restaurant chain Lion’s Choice, for an undisclosed price.
To facilitate the deal, the private equity firm — also based in St. Louis — partnered with Mark Disper through his investment fund Black Rock Holdings LLC. Disper will retain partial ownership of the target’s new name LC Corporate LLC. He will also serve as president and CEO of Lion's Choice, which is known primarily for 300-calorie roast beef sandwiches and comparatively healthy offerings. (For more on the better-for-you eating trend leading to M&A, see our September cover story “Snack Time.”)