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Duluth entrepreneur Rod Raymond is buying out his longtime partner Tim Nelson. Just Take Action (JTA) is the parent company for Fitger's Brewhouse restaurant and brewpub, Tycoons Alehouse, Burrito Union, the Red Star Lounge (also in the Fitger's Brewery Complex), Endion Station and the former Carlson Book building. JTA has been renovating the shell of the Carlson Book building and intend to lease it out. Raymond has been maneuvering to buy out Nelson's share of JTA for the last several months and the deal has just been finalized.
Tycoons Alehouse and JTA offices are located in Duluth's historic City Hall. Beacon Bank and the Minnesota Business Finance Corporation teamed up to lend JTA 1.65 million dollars for the acquisition and renovation of the building in 2010.
Raymond told The Reader that he was excited about the future opportunities for the business, and noted that they have recently introduced new menus and would soon be remodeling Burrito Union. JTA recently brought aboard Larry Kerns, a well regarded, experienced Director of Operations as new chief operating officer.
Terms of the deal were not disclosed, and the Board of Directors which has overseen JTA's activities for the last 5 years has been disbanded.
Ironically, Fitger's Brewhouse, the iconic flagship of the JTA group is celebrating its 20th birthday in September.
The Reader was not able to reach Nelson for comment, although, reportedly, he would like to remain involved in the beer industry.