facebook pixal

Checkers-Rally's sold for $525M

checkers exterior close

The private equity firm Oak Hill Capital has teamed up with the management of the Checkers and Rally’s drive-thru chains to buy the twin concepts for $525 million from another investment firm, Sentinel Capital.

Oak Hill’s past investments have included Dave & Buster’s and Burger King.

A sale of Checkers Drive-In Restaurants, the parent of the dual drive-thru chains, has been expected for weeks. The two chains consist of about 840 restaurants, most of which are franchised.

The announcement suggested that Checkers Drive-In CEO and president Rick Silva will remain in his posts.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

Yum Brands CEO David Gibbs doesn't get his company's stock price decline

The Bottom Line: The owner of Taco Bell, KFC, Pizza Hut and Habit has declined as much as 10% since reporting what Gibbs called a “blowout” first quarter. And the company argues that it could easily weather a downturn.

Financing

In a tough year for restaurants, CEO pay took a big hit

The highest-paid executive last year wasn't even a CEO, and three of the 10 best-paid chief executives no longer work for their companies.

Beverage

Beer sales flat? These bars know how to pump them up

A combination of target marketing and tech enhancements can spur craft beer sales for operators.

Trending

More from our partners