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Investment group acquires Bojangles' Inc.

September 12, 2007

CHARLOTTE, N.C. — Private equity firm Falfurrias Capital Partners has announced that it has acquired a controlling interest in Bojangles' Holdings Inc.
 
The investment group includes Hugh L. McColl Jr., founder and chairman of Falfurrias Capital Partners and former chairman and chief executive of Bank of America, and Jerry Richardson, founder and president of the NFL Carolina Panthers, and former chairman and chief executive of Flagstar Cos. Inc. Richardson owns one of Bojangles' largest, most successful franchise groups.
 
Bojangles' serves customers at 386 locations in 11 states, Honduras and Mexico. The company has recorded 49 consecutive months of same-store sales increases and posted record sales of more than half a billion dollars in 2006. Recent expansion has added locations in Florida, Georgia, North Carolina, Tennessee and Virginia, and additional 2007 openings are slated for New Jersey and Pennsylvania.

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