The rapidly growing franchise plans to continue expanding after being sold.
Checkers Drive-In Restaurants, the more than 840 unit franchise based in Tampa, has been acquired by Oak Hill Capital Partners for $525 million. Rick Silva, CEO of the rapidly growing franchise, told QSR in a recent article, “We’re not taking a different direction. What we’re really doing is throwing gasoline on a fire here.”
Over the last eight years, Silva has led an incredible turnaround for the brand - profitability has increased by about 20 percent every year for the last seven, and the system has grown, with a goal of having 1,200 locations open by 2020. The sale to Oak Hill Capital Partners certainly helps that "20-20" vision, and estimates from Buxton estimate the company could add 3,000 more units in existing markets alone.
“We’ve got so much exciting growth ahead of us,” Silva told QSR. “It is kind of crazy if you think about it.”
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