Wingstop Restaurants Inc., the parent to the 440-unit chicken-wing chain, has been acquired by an affiliate of private-equity firm Roark Capital Group, the companies said Monday.
The deal, terms of which were not disclosed, was announced at Wingstop’s franchisee convention in Las Vegas. Roark Capital, which is based in Atlanta and specializes in franchised concepts, has a portfolio that includes such restaurant brands as Carvel, Cinnabon, McAlisterâ€™s Deli, Moeâ€™s Southwest Grill and Schlotzskyâ€™s.
The acquisition buys out Gemini Investors LLC of Wellesley, Mass., and another private investor who had bought a controlling stake in Wingstop in 2003 and owned about 64 percent of the company.
James Flynn, Wingstopâ€™s chief executive, told NRN that Roarkâ€™s expertise in franchising should help Wingstop ratchet up its growth.
â€œThese are guys who have spent years in the restaurant industry and can have significant input into our expansion and profits,â€ he said.