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

Another thing for restaurants to consider: A GLP-1 pill

The Bottom Line: The drugmaker Eli Lilly this week said that tests of its GLP-1 pill could work just as well as injectable drugs like Ozempic. That could be huge, for the medication and for restaurants.

Technology

The tech buzz at RLC was all about personalization

Tech Check: Restaurants clearly want to make their digital customers feel seen, judging by conversations at the Restaurant Leadership Conference this week. It’s what consumers say they want, too, but will it work?

Financing

The rise, fall and (possible) rebirth of Hooters

America’s first breastaurant chain started as a joke and then became a juggernaut. Now, forced into bankruptcy by debt, inflation and some questionable decisions, it is hoping for a second chance, back where it all began.

Trending

More from our partners