President and CEO Rick Silva elaborates on the Oak Hill Capital Partners sale and impact it will have on the concept
The quick service franchise restaurant industry is booming, and that has led to a flurry of acquisitions including Tampa-based Checkers & Rally's which was acquired by acquired by Oak Hill Capital Partners for around $525 million at the end of March.
According to a recent article in QSR Magazine, this comes as deals involving Burger King, Popeyes, Jimmy John's, CiCi's Pizza, and Wetzel's Pretzels have been completed in the first part of 2017.
“Investors are looking for a strong track record. I think they’re also looking or a strong and stable management team and they’re also looking for exciting growth ahead,” Rick Silva, President and CEO of Checkers Drive-In Restaurants, Inc., told QSR Magazine. “At Checkers and Rally’s, they found all three of them.”
Checkers is coming off of six consecutive years of system-wide same-store sales growth and according to a study by Buxton, the brand has room for 3,000 units in the 29 states and the District of Columbia where they already have a presence - with even more opportunity in untapped markets.
You can read the entire article here.