Back Yard Burgers (NASDAQ: BYBI) is a regional franchise chain of quick serve restaurants. Its headquarters is located in Memphis, Tennessee. There are 171 Back Yard Burgers locations in 20 states throughout the Southern and Midwestern United States.The chain distinguishes itself from other hamburger chains in that, among other things, its charbroiled hamburgers are made of 100% premium black angus beef which is well known for excellent beef flavor. Consequently, the hamburger prices are generally slightly higher, although minimal advertisement strategy allows it to be somewhat competitive. Backyard Burgers also offers salads, baked potatoes, or other side items as optional replacements for fries in its combo meals, and also offers a vegetarian garden burger.The first Back Yard Burgers opened in Cleveland, Mississippi in 1987. Originally, the chain consisted of only drive-through restaurants with no dine-in facilities, but most locations have since added dine-in facilities. In recent years, the company has emphasized the quality of Black Angus beef.In 2002, Back Yard Burgers and Yum! Brands, Inc. temporarily entered into a development agreement whereby Yum! had an option to co-brand Back Yard Burgers' trademarks with its other restaurants' trademarks, including Taco Bell, Pizza Hut, and KFC. In 2004, however, after Yum! chose not to exercise its option, the two companies abandoned this plan as Yum! began revitalization of the A&W brand of hamburgers and root beer. Back Yard Burgers has enjoyed growth at a consistent rate as it now approaches 200 total units opened or under development.In August of 2007 the chain was purchased by a group of investors led by a former Chief Financial Officer of the Sonic Drive In chain C. Stephen Lynn who also had served as Chairman of Shoney's restaurants. Reid M. Zeising of Cherokee Advisors is a financial backer and leader of the 38 million merger/buyout.