Overview

• The chain’s current owners paid $590 million in 2019 and are seeking over $1.5 billion for the business, marking a nearly threefold increase in valuation
• Bojangles averages more than $2 million in annual sales per unit across roughly 830 restaurants, underscoring its strong unit economics in a booming chicken segment
• Technomic data show chicken concepts outgrew overall chain-restaurant sales by 6 percentage points last year, fueling investor appetite for poultry brands
• Since April, Bojangles has expanded into New Jersey with plans for up to 10 Central Jersey outlets, demonstrating its ability to scale beyond the Southeast
• Industry speculation points to suitors such as Yum! Brands, Inspire Brands, Restaurant Brands International and large-cap private equity firms as potential bidders