Slim Chickens Announces Equity Investment from 10 Point Capital
Fast Casual Chicken Brand Forecasts 600 New Openings Over Next 10 Years
FAYETTEVILLE, Ark., July 17, 2019 // PRNewswire // - Slim Chickens, the fast casual franchise in the "better chicken" restaurant segment, announced today an equity investment from 10 Point Capital, an Atlanta-based private equity firm. The investment will continue to fuel Slim Chickens expansion with a goal of opening 600 new locations over the next 10 years. Slim Chickens currently has over 80 locations across 14 states, the United Kingdom and Kuwait with more than 350 locations under development agreements to date. Terms of the deal were not disclosed.
"Greg Smart and I started Slim Chickens over 16 years ago with a mission to bring Southern hospitality and fresh, high-quality chicken to a fast-casual setting," said Tom Gordon, Co-Founder and CEO of Slim Chickens. "Our growth with new franchise agreements has been exceptional in the first half of 2019. In the past quarter alone, Slim Chickens has signed 60 new restaurant agreements with impressive, experienced multi-unit franchisees. With 10 Point Capital's unique support and expertise, we believe we have the resources necessary to achieve our goal of 600 stores in the next 10 years."
Slim Chickens opened its fourth UK location in Birmingham, England earlier this month and will open new restaurants in Southaven, MS and Owasso, OK in the next several weeks followed by a series of new openings across the Southeast and Midwest U.S. in the fall. "Our growth is really starting to reach the velocity we've been working towards," said Sam Rothschild, COO.
"At 10 Point Capital, we help founders create dominant franchise brands, and Slim Chickens is certainly a vibrant, distinctive brand," said Tom Wells, Managing Partner at 10 Point Capital. "Whether in Little Rock, Arkansas or Central London, we found in our diligence that Slim Chickens has quickly established a loyal following in whatever market it enters. With a strong foothold in the U.S., United Kingdom and Kuwait, Slim Chickens is poised for significant growth."
"We had a number of potential private equity suitors over the past few years, but we were committed to aligning with a company that would be able to drive more impact than just financing," said Seth Jensen, CFO. "Ultimately, we chose 10 Point Capital due to their expertise in franchising and the shared vision for the brand."
Slim Chickens is currently seeking single and multi-unit franchisees to open locations in the Southeastern, Midwestern and Northeast U.S.
About 10 Point Capital
10 Point Capital helps founders create dominant franchise brands. With deep roots in the franchise industry, 10 Point Capital helps emerging concepts accelerate their growth by providing investment capital and using a proven Franchise Acceleration Plan to help them evolve into mature, thriving brands. The leadership team at 10 Point Capital is behind the success of the top-ranked, rapidly growing fast casual restaurant concept Tropical Smoothie Cafe, which has grown to more than 750 locations nationwide. For more information on 10 Point Capital, visit www.10pointcapital.com.
About Slim Chickens
Slim Chickens opened in 2003 in Fayetteville, Arkansas, with a focus on fresh, delicious food with a southern flair in a fast-casual setting. Guests can always expect fresh chicken tenders and wings cooked to order and served with house made dipping sauces. With over 80 locations opened and a fanatical following in 14 states as well as international locations in Kuwait and London, the eternally cool brand is an emerging national and international franchise leading the "better chicken" segment with a goal to grow over 600 restaurants over the next decade. Southern hospitality is not just for the South; everyone, everywhere can appreciate honest food and socialize with friends and neighbors. To learn more about the brand, visit slimchickens.com.
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SOURCE Slim Chickens
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