‘Exciting next phase’: Bojangles’ set to be sold in 2019
CHARLOTTE, N.C. — Bojangles’, the Charlotte-based Southern fast food chain, is being sold.
Bojangles’ Inc. announced Tuesday that will finish the sale to Durational Capital Management and the Jordan Company in early 2019.
“Bojangles’ is an iconic brand with an authentic Southern heritage and a deeply loyal following,” Managing Partner at Durational Capital Management Eric Sobotka said. “We have admired the brand and its high quality and craveable food for years, and we look forward to partnering closely with the employees and franchisees to drive its future growth and continued success.”
Already the Bojangles’ Board of Directors gave their approval unanimously. Now, it’s up to the stockholders.
“For the Bojangles’ family of employees, franchisees, and our customers, today’s announcement represents an exciting next phase for this great brand. The new ownership group is committed to maintaining the qualities of this brand that have sustained it for over four decades,” Bojangles’ Interim President and CEO Randy Kibler said.
Every Bojangles’ stockholder is expected to get $16.10 per share.
According to the release, Bojangles’ will keep its roots and headquarters in Charlotte despite the change of hands.