Los Angeles, CA (RestaurantNews.com) Angry Chickz, a rapidly growing California-based Nashville Hot Chicken restaurant chain, is pleased to announce it has successfully raised debt capital from Saratoga Investment Corp., a publicly traded business development company (BDC) that provides financing to middle-market companies across a range of industries. The investment will support Angry Chickz’s continued expansion as it scales its national footprint and strengthens its position as one of the most dynamic brands in the fast-growing chicken category of the quick-service restaurant (QSR) industry.
Founded in 2018 in Los Angeles, Angry Chickz has emerged as one of the fastest-rising concepts in the QSR chicken space celebrated for its crave-worthy Nashville Hot Chicken, efficient operations, and loyal guest following. The brand currently operates 33 locations across California, Arizona, Texas, and other States, with plans to reach over 50 locations within the next year. Angry Chickz ranks among the industry’s top performers in unit economics and guest satisfaction, underscoring the strength of its concept and execution.
David Mkhitaryan, CEO of Angry Chickz, commented: “We’re thrilled to partner with Saratoga as we continue building Angry Chickz into a national brand. This investment provides the capital and strategic support we need to accelerate growth while maintaining the quality and culture that define our success.”
Mike Grisius, Co-Managing Partner and Chief Investment Officer of Saratoga Investment Corp., added: “We believe Angry Chickz represents a highly compelling platform in the QSR chicken category. The company’s strong brand, operational discipline and exceptional unit performance make it an outstanding growth investment opportunity.”
DelMorgan & Co. served as exclusive financial advisor to Angry Chickz on this transaction. Glaser Weil LLP served as legal counsel to Angry Chickz.
Neil Morganbesser, President & CEO of DelMorgan & Co., stated: “We are proud to have represented Angry Chickz in this successful transaction. The company is a category leader and positioned for significant growth, and we were able to run a robust process and introduce them to multiple prospective capital partners. In the end, Saratoga Investment Corp. offered an ideal fit, and we are delighted to have been able to help Angry Chickz structure and negotiate a deal to give it the capital to achieve its growth capital objectives. We look forward to continuing to support the team and to being able to eat Angry Chickz at more and more locations in the near future.”
To learn more about Angry Chickz, visit AngryChickz.com.
About Angry Chickz
Angry Chickz is a renowned Nashville hot chicken brand that has taken the west by storm. Founded by David Mkhitaryan in 2018, Angry Chickz has become a go-to destination for food enthusiasts seeking bold, flavorful, spicy fried chicken. With its roots in a 900-square-foot storefront in LA’s East Hollywood neighborhood, Angry Chickz quickly gained a devoted following by serving the best Nashville hot chicken and mac & cheese with unmatched customer service. With his passion for spice and desire to provide uniquely delicious culinary experiences, David created the perfect recipe for the brand’s signature spicy chicken tenders. As featured in QSR’s “Ones to Watch” section, recognized in QSR’s 40 under 40 – America’s Hottest Startup Fast Casuals, proudly named among Fast Casual 2024’s “20 Brands to Watch” and honored with the coveted Hot Concepts award by Nation’s Restaurant News, these accolades speak volumes about their prime position in the dynamic fast-casual space. To learn more information and see where Angry Chickz is headed next, visit AngryChickz.com.
About Saratoga Investment Corp.
Saratoga Investment Corp. (NYSE: SAR) is recognized for its disciplined investment approach, deep industry expertise and long-term partnership philosophy. Learn more at SaratogaInvestmentCorp.com.
About DelMorgan & Co.
With over $300 billion of transactions in over 80 countries, DelMorgan‘s Investment Banking professionals have worked on some of the most challenging, most rewarding and highest profile transactions in the U.S. and around the globe. DelMorgan specializes in capital raising and M&A advisory services for companies across all industries and is widely recognized as one of the world’s leading investment banking firms. Learn more at DelMorganCo.com.
Contact:
Paul Donahie
Champion
908-239-8679
pdonahie@championmgt.com
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