TL;DR
Checkers & Rally's, an 844-unit QSR brand, was sold to Oak Hill Capital Partners for $525 million. The brand has locations in 29 states and the District of Columbia, and aims to reach 1,200 restaurants by 2020.
The president and CEO of Checkers Drive-In Restaurants made a big announcement this Thursday for the 844-unit brand that has locations in 29 states and in the District of Columbia. According to a recent QSR Magazine article, the brand entered an agreement to be acquired by Oak Hill Capital Partners for close to $525 million.
“We’re not taking a different direction,” Silva says. “What we’re really doing is throwing gasoline on a fire here.”
After six consecutive years of system-wide same-store sales growth and restaurant profitability up 20 percent per year over the past seven, the company feels its current momentum is propelling it forward even faster. With a goal of 1,200 restaurants by 2020, Checkers does not believe the ceiling for growth is anywhere in sight and has no plans of slowing down.
In this story
This story was originally published in 1851 Franchise on March 24, 2017. Burnaze summarizes and links to the original reporting.
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