CHARLOTTE — Charlotte-based Bojangles could end up getting new owners, according to a report published Wednesday by the Wall Street Journal.
The WSJ wrote that Bojangles’ leadership is working with investment bankers to potentially sell the company, and it could be worth more than $1.5 billion.
Bojangles is currently owned by Durational Capital Management and TJC, two private equity firms that bought the restaurant chain for $590 million in 2019.
Since the takeover, Bojangles has launched new technologies like an upgraded app experience and its virtual drive-thru assistant.
Now, Bojangles could end up swapping owners due to the increase in business among fried chicken restaurants. The WSJ says chicken sales at restaurants is up 9% from last year.
The WSJ says it’s also possible that Bojangles will decide not to sell.
Bojangles currently operates in 20 states, and the chain is looking to expand across the country.
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