Bojangles' Famous Chicken 'n Biscuits

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Bojangles' Inc.
Private
IndustryFood
Founded1977
FoundersJack Fulk
Richard Thomas
HeadquartersCharlotte, North Carolina
Number of locations
600+[1]
Key people
  • Jose Armario (CEO)
  • Brian Unger (COO)
ProductsFast food, including fried chicken, biscuits, french fries
OwnerThe Jordan Company
Durational Capital Management
Websitewww.bojangles.com

Bojangles' Inc. is a Southeastern United States regional chain of fast food restaurants, specializing in cajun seasoning, fried chicken, and buttermilk biscuits. The company was founded in Charlotte, North Carolina in 1977 by Jack Fulk and Richard Thomas.[2]

History[edit]

Bojangles' in Tifton, Georgia
Advertisement for Bojangles' at Durham Athletic Park in Durham, North Carolina (1989)

Bojangles' opened its first location in Charlotte in 1977. The following year, the first franchised restaurant began operations.

Jack Fulk sold the Bojangles' concept to the now-defunct Horn & Hardart Company of New York[3] in 1981.

During the time of Horn and Hardart's ownership the chain grew rapidly and expanded to 335 restaurants including 100 restaurants in Florida. Part of this growth was fueled by acquisitions including the Florida-based Biskits chain.

In 1990, Horn and Hardart sold most of its interest to Sienna Partners and Interwest Partners. The company was then headed by former KFC executive, Dick Campbell. In 1994 the company attempted a public offering. Campbell was subsequently replaced by CEO Jim Peterson. The company was sold to a group of investors headed by former Wendy's executive Joe Drury and financed by FMAC in 1998.[4]

Bojangles' grew throughout the 1990s and 2000s, with the 300th location opening in 2003. The restaurant started its first college campus location on the grounds of Central Piedmont Community College in 2005. The company also purchased naming rights to the original Charlotte Coliseum on Independence Boulevard in Charlotte.

Bojangles' was purchased once again in 2007 by Falfurrias Capital Partners,[5] a private equity firm. In August 2011, Falfurrias sold Bojangles' to Boston-based Advent International, another private equity firm, after a competitive bidding process with other investors.[6]

In 2012, Bojangles' began sponsoring the NASCAR race Bojangles' Southern 500, and opened another college campus restaurant at UNC Greensboro.[7]

The company opened its 600th restaurant on July 8, 2014, on Galleria Road in Charlotte with Charlotte mayor Dan Clodfelter cutting the celebratory ribbon.[8]

In April 2015, the company filed with the US regulator for an initial public offering of its common stock, expecting to raise $372 million.[9]

In November 2018, it was announced that The Jordan Company and Durational Capital Management would acquire the company.[10][11]

On January 14, 2019, The Jordan Company and Durational Capital Management received shareholders approval for the acquisition of Bojangles' Inc.[12]

On January 28, 2019, the acquisition was completed. And as a result, Bojangles' became a privately held company for the first time in 4 years.[13][14]

Randy Kibler was replaced by Jose Armario as a full CEO, while Brian Unger is the new chief operating officer.[14]

The company has restaurants in 11 states and the District of Columbia. At various times Bojangles' has franchised restaurants in Grand Cayman Island, Jamaica, Honduras, Mexico, Ireland, and China.

See also[edit]

References[edit]

  1. ^ It's Bo Time Again in Greenwood As Bojangles' Opens Its Second Restaurant in the Area
  2. ^ "Contact". Bojangles'. Retrieved on October 1, 2012. "Support Center 9432 Southern Pine Boulevard Charlotte, NC 28273-5553"
  3. ^ McKibben, William (October 4, 1982). "Bojangles'". The Talk of the Town. The New Yorker. Retrieved August 30, 2013.
  4. ^ "Chicken Franchise Spreads Its Wings". Greater Charlotte Biz. September 2005. Archived from the original on August 15, 2007.
  5. ^ "Bojangles' Acquired". QSR Magazine. September 13, 2007.
  6. ^ "Bojangles". Advent International. Archived from the original on January 25, 2014. Retrieved August 30, 2013.
  7. ^ "History of our famous Chicken 'n Biscuits restaurants". Bojangles'. Retrieved June 29, 2017.
  8. ^ Adams-Heard, Rachel. (July 9, 2014). Bojangles' reaches a milestone: 600 stores. The Charlotte Observer: retrieved July 9, 2014.
  9. ^ "Restaurant chain Bojangles' files for IPO" (Press release). Reuters. April 7, 2015.
  10. ^ "NY firms to acquire Charlotte-based Bojangles'". charlotteobserver. Retrieved November 7, 2018.
  11. ^ Miller, Jennifer. "Charlotte-based Bojangles' to be sold in 2019". WECT. Retrieved November 7, 2018.
  12. ^ "Bojangles' receives stockholders approval for acquisition". Verdict Foodservice. January 14, 2019. Retrieved January 15, 2019.
  13. ^ Inc, Bojangles' (2019-01-28). "Bojangles', Inc., Durational Capital Management and The Jordan Company Complete Acquisition". GlobeNewswire News Room. Retrieved 2019-01-31.
  14. ^ a b Press, Associated (2019-01-31). "Former McDonald's execs take helm at Bojangles' after sale". WPDE. Retrieved 2019-01-31.

External links[edit]