An Atlanta-based private equity firm that already has a stake in at least four restaurant companies has purchased Richardson-based Wingstop Restaurants, Inc., the company said early Monday.

Terms were not disclosed.

James Flynn, Wingstop’s chief executive officer, said he and the rest of the senior management team will remain in place under the new owners, who purchased more than 90 percent of the company Friday.

Roark, which has a stake in Carvel ice cream, Cinnabon, Moe’s Southwest Grill, Schlotzsky’s and Seattle’s Best Coffee International, takes over for Gemini Investors, which purchased a controlling stake in Wingstop in 2003 and owned more than 60 percent of the company.

“Their fund was a 10-year fund,” Flynn said of Gemini. “It was time for them to exit. A seven-year investment is a long time for private equity.”

Continue reading . . .

RestaurantNews.com provides restaurant press release distribution.
For more information: http://www.RestaurantNews.com/press-release/



Subscribe to our RSS feed!