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.
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