Wingstop set for sale?
Wingstop Holdings Inc., a popular purveyor of chicken wings under the name Wingstop Restaurants Inc., is being acquired by a fund of a Massachusetts-based investment shop called Gemini Investors, according to a filing in the Federal Register.
Financial terms of the transaction between Richardson-based Wingstop, one of the fastest-growing restaurant chains in the country, and Gemini Investors IV LP, weren’t disclosed. The Federal Register listing said Gemini Investors IV is seeking to acquire Wingstop with an undisclosed amount of debt and equity financing.
Gemini Investors III LP, owns more than 10% of Wingstop, which generated revenue of $306.7 million in 2009 and has 435 restaurants nationally.
Gemini Investors IV LP will be part of a larger pool of funds to cash out existing shareholders, one of which is Gemini Investors III, the Federal Register notice said.
Officials at Richardson-based Wingstop, which is led by president and CEO James Flynn, declined to comment. James Goodman, Gemini’s president, could not be reached.
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