Believe it or not, Bojangles is being sold! The Charlotte-based company is being sold to Durational Capital Management LP and The Jordan Company, LP. Bojangles’ headquarters sent out a press release yesterday. Eric Sobotka, managing partner at Durational Capital Management said, “We have admired the brand and its high quality and craveable food for years, and we look forward to partnering closely with the employees and franchisees to drive its future growth and continued success.”
The board of directors decided unanimously to approve the deal. The stockholders will receive $16.10 per share and deal should be done by the beginning of 2019. Randy Kibler, Bojangles’ interim president and CEO stated, “For the Bojangles’ family of employees, franchisees, and our customers, today’s announcement represents an exciting next phase for this great brand. The new ownership group is committed to maintaining the qualities of this brand that have sustained it for over four decades.”
No word on if anything will change at Bojangles or if the company will expand or close stores; but we’ve got to keep an eye out on this!