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The auction will run through Jan. 14.
The private equity-owned operator will buy the locations in Virginia and West Virginia.
T. Rowe Price, D1 Capital Partners, Lone Pine Capital and XN have all invested in the fast-casual taco chain, which plans to expand to 10 more states by 2024.
The burger chain and a consortium of franchisees are bidding for nearly 400 locations. Franchisees will end up with most of the restaurants.
It started when the companies looked at working with one another on technology. Discussions then turned more serious, says RB’s The Bottom Line.
The investment will enable the Athens, Ga.-based chicken chain to accelerate its growth and expand into new sales channels.
The health-focused concept, which includes restaurants, vending machines and a subscription service, just received $16 million in funding to expand.
The casual dining chain is reopening four units as it emerges from Chapter 11.
The CEO of Flynn Restaurant Group is pushing a megadeal for the Wendy’s and Pizza Hut operator that would create the third-largest restaurant operator in the U.S., says RB's The Bottom Line.
Flynn Restaurant Group was OK’d as the stalking horse bidder for the Pizza Hut and Wendy’s operator, even as Wendy’s objects. But many other potential buyers are interested.
These emerging chains are the growth vehicles to watch—the ones poised to be major industry players in the coming years.
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