---
title: "Two Former Kona Grill CEOs Team Up in Bid for the Brand"
url: https://burnaze.com/article/2608ee06-3c25-41e3-8de3-09d957d2481d
source: "1851 Franchise"
original_url: https://1851franchise.com/two-former-kona-grill-ceos-team-up-in-bid-for-the-brand-2710043
category: "Casual dining"
industry: "Restaurants"
segment: "Casual dining"
topics: ["Finance & M&A"]
published: 2019-05-23T22:17:49.000Z
modified: 2026-11-01T02:32:02.723Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/1942485f3f78379af7d7d6f8ce7521b72242.jpg
---

# Two Former Kona Grill CEOs Team Up in Bid for the Brand

**TL;DR:** Two former Kona Grill CEOs, Berke Bakay and Marcus Jundt, are teaming up to purchase the brand through a stalking horse bid. The bid, filed by Jundt's Williston Holding, is for $20.3 million plus the assumption of $7.1 million in liabilities.

*originally published in 1851 Franchise on 2019-05-23. [Read the original](https://1851franchise.com/two-former-kona-grill-ceos-team-up-in-bid-for-the-brand-2710043).*

## Story

In what has been a tumultuous year filled with multiple leadership changes and a bankruptcy filing, Kona Grill is up for sale. And according to a recent article in Nation’s Restaurant News, two of the casual dining chain’s former CEOs are seeking to purchase the brand.

Per NRN, court findings revealed that former CEO Berke Bakay, who left the brand in August 2018, has joined forces with (other) former CEO Marcus Jundt, who resigned in March, in Jundt’s “stalking horse” bid to buy Kona Grill.

Jundt’s Williston Holding filed its asset purchase agreement for $20.3 million, plus the assumption of $7.1 million in liabilities, the article notes. Now, Bakay’s BBS Fund has loaned Williston Holding more than $2 million as part of the asset purchase agreement.

## Entities

- 1851 Franchise (publication)
- Restaurants (sector)
- leadership changes (topic)
- bankruptcy sale (topic)
- stalking-horse bid (topic)

---
Originally reported by 1851 Franchise (https://1851franchise.com/two-former-kona-grill-ceos-team-up-in-bid-for-the-brand-2710043). Summarized by Burnaze (https://burnaze.com/article/2608ee06-3c25-41e3-8de3-09d957d2481d).