Lost Cajun restaurant franchise sold to Arizona company
The Lost Cajun, a restaurant franchise founded by a Louisiana native who had moved to Colorado, was acquired by Scottsdale, Arizona-based Executive Decisions Group Inc.
Raymond Griffin, a Barataria native, opened the first restaurant in 2010 in Frisco, Colorado, and by 2017 it had 12 restaurants in four states. Menus include standard South Louisiana dishes such as seafood gumbo, jambalaya, po-boys, red beans, and rice.
He returned to Louisiana in 2018, buying a house in Slidell and open a restaurant there.
Griffin too moved its corporate headquarters to Covington This year.
Acquisition includes The Lost Cajun Enterprises franchise system, The Lost Cajun location in Slidell, which will continue to be owned by the company, and The Lost Cajun Spice Company, through new subsidiary Happy Cajun Hospitality LLC from EDGI.
The Lost Cajun now has 24 restaurants in seven states. Griffin will remain with Happy Cajun Hospitality as an advisor and consultant for The Lost Cajun brand, according to a press release.
“EDGI and its relationship with Summa has provided us with a fantastic opportunity to grow the business, while preserving what makes The Lost Cajun so authentic,” Griffin said in the release.
The purchase brings EDGI’s annualized revenue to more than $50 million per year, according to the release.
EDGI is best known for its Summa Franchise Consulting business, a consulting firm that advises franchise businesses. Summa does about 40% of its business in the restaurant business, according to the release.
EDGI is also the second-largest investor in The Homecare Advocacy Network, an investor in multiple Thrive Healthcare franchises, and owner of the Orange County territory for Season 2 Consign.