News

Checkers Drive-ins purchased

March 23, 2017

Oak Hill Capital Partners announced this week that it has entered into a definitive agreement to acquire Checkers Drive-In Restaurants, Inc. from Sentinel Capital Partners. Operating under the Checkers and Rally's banners, the 31-year-old chain has over 840 locations in 29 states and the District of Columbia.

Oak Hill is making the investment in partnership with Checkers management. The aggregate value of the transaction is approximately $525 million.

The transaction should close in the second quarter of this year. 

"With a proven brand, a loyal customer following, and strong unit-level economics, we are confident that the business will capitalize on its large whitespace opportunity for new units,"  Oak Hill Partner Kevin Mailender said in a news release.  

No other details of the transaction were disclosed.