TL;DR
Bojangles' is considering a sale, exploring strategic alternatives with the help of Bank of America. The restaurant chain is owned in part by Advent International Corp, which owns just over half of the 766-unit chain.
Southeastern fried chicken staple Bojangles’ is considering a sale, according to a Reuters report. Sources familiar with the matter told Reuters the restaurant chain was exploring strategic alternatives that included a potential sale as the industry turns more to consolidation.
According to the report, Bojangles’ is working with Bank of America as it seeks potential buyers, but a sale is not a foregone conclusion. Private equity firm Advent International Corp owns just over half of the 766-unit chain with 441 franchised locations. News of the possible sale propelled the brand’s shares to a 10 percent increase on Friday, Reuters noted.
In this story
This story was originally published in 1851 Franchise on October 1, 2018. Burnaze summarizes and links to the original reporting.
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