News

Bojangles' up for sale?

February 9, 2011

It's been a roller coaster of a year for the quick-service industry, anchored by the sale and anticipated sale of big-name companies such as Burger King, Long John Silver's, A&W and Arby's.

Now, Bojangles' Famous Chicken and Biscuits may be joining the list.

According to the Charlotte Observer, Falfurrias Capital Partners is looking to sell its controlling stake in the chain three years after making the investment.

Falfurrias, based in Charlotte, N.C., was co-founded by former Bank of America executives Hugh McColl Jr. and Marc Oken, who were joined in the purchase by Carolina Panthers owner Jerry Richardson.

The Charlotte Observer claims the current examination of "strategic alternatives" stems from the favorable performance of Bojangles' which should provide Falfurrias with an ROI.

From the story:

"We are confident that the efforts of our people, our franchisees and the loyalty of our customers will ensure the continued success of the Bojangles' brand regardless of our ownership structure," the company said. Falfurrias declined to comment.

Bojangles' has nearly 500 locations in 11 states and plans on a broader growth within the next five years.