Operations

Wags Capital acquires Dirty Bird Fried Chxx with $20M investment

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September 1, 2021

The McHenry Group, a restaurant group focused on experiential concept creation, has sold the majority of Dirty Bird Fried Chxx to Wags Capital, an industry boutique investment firm specializing in food and beverage.

Wags Capital is investing $20 million to fuel plans to open as many as 30 locations over the next 12 to 14 months, according to a news release. The McHenry Group founder and concepteur, Michael McHenry, will retain a minority stake in the Dirty Bird brand, which is based in Salt Lake City, Utah.

"I can't think of a more perfect fit for the acquisition and growth of the Dirty Bird brand than Wags Capital," McHenry said in the release. "This deal represents exactly what TMG was founded to do. From concept incubation to brand creation and launching of our first Dirty Bird in a 263-square-foot restaurant to a long line of passionate 'hot chxx' lovers, we were able to create a multi-million-dollar brand that promises it will only grow. I am thrilled to announce this news."

Wags Capital CEO Aaron Wagner said his company is "one of the most progressive, creative investment firms in the country" and the acquisition gives them one of the most disruptive restaurant concepts in the industry.

"Dirty Bird Fried Chxx is a hot brand with the best 'hot chxx' in the country, combined with rich culture and scalable operations — that's a hard mix to find," he said in the release. "This is a stand-out brand and we believe the potential is immense."