Multi-Brand Operator To Open and Acquire 80 Bojangles Restaurants
Irving, Texas-based Chaac Foods Restaurants is a well-established multi-brand operator with 135 Pizza Huts, and numerous Cru Food & Wine Bars, Ling & Louie’s, Applebee's, and Panda Express locations in nine states. The company has not been in the fried chicken market – until now.
Chaac Foods has signed an agreement to open 40 new Bojangles stores over the next seven years, including 20 in Georgia, 5 in Tennessee, and 15 in the Orlando, Florida, area. In addition, Chaac Foods will also acquire 40 existing corporate-owned Bojangles locations across the Georgia, South Carolina, and Tennessee markets.
Chaac Foods is funded by private equity firm Gauge Capital and backed by a management team with more than three decades of experience in the industry. “We welcome Bojangles to the Chaac Foods family and are excited to participate in the growth of this highly regarded brand,” said Sam Banon, senior vice president at Gauge Capital.
Bojangles inked another large-scale expansion agreement with longtime franchisee Jeff Rigsby earlier this year. Both deals include opening locations in new markets.
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