No surprise here.

Panthers now own Bojangles.


Posted on Fri, Sep. 14, 2007
MCCOLL, RICHARDSON GROUP
Investors acquire Bojangles’
Former CEO of Bank of America drives purchase of restaurant chain
By Staff and Wire Reports

An investment group that includes Bank of America’s former CEO and the founder of the Carolina Panthers has acquired a controlling interest in Charlotte-based Bojangles’ restaurant chain.

Falfurrias Capital Partners, a Charlotte private equity firm, will own more than 60 percent of Bojangles’ Holdings, said Hugh McColl, who helped found the Charlotte-based investment group in 2006 after leaving Bank of America.

“What appealed to me about Bojangles’ was that they were a very well established brand that was doing well,” McColl told restaurant trade magazine OSR on Thursday.

Also part of Falfurrias is Jerry Richardson, who founded the Panthers and remains president of the NFL team. Richardson also is the former CEO of Flagstar Cos., which once was the Spartanburg-based parent of the Denny’s, Hardee’s and other restaurant chains.

Richardson owns one of Bojangles’ largest franchise groups with 37 restaurants. Richardson told QSR that McColl asked him to invest after Falfurrias began talks with the chicken chain. McColl had helped finance Richardson’s Bojangles’ franchises over the past 26 years.

“I don’t need to be trying to get in business with people I don’t know at this stage in my life,” Richardson told the magazine.

Joe Drury will soon step down as Bojangles’ boss after five years but will keep an ownership stake in the chain and remain on the board, McColl told QSR.

Drury, a former Wendy’s executive, “has done a great job turning it around when it was having a difficult time.” McColl said.

McColl told QSR that his investment company, which has bought a large granite and marble countertop fabricator as well as a Fort Mill public utilities engineering and consulting firm, is not looking to buy other restaurant chains.

Founded in 1977, Bojangles’ now has 386 locations in 11 states, Honduras and Mexico. The chain has 73 S.C. locations with 23 in the Columbia-metro area. The company posted record sales of more than $500 million in 2006.

The Charlotte Observer and Andrew Shain contributed

 

I've always liked Bojangles.

 

Technically, the Panthers don't own Bojangles. The private equity firm does and Richardson is one investor.

 

Don't rain on my parade!

 

biscuit justice has been served

 

Hardees fried chicken is better than Bojangles

 

which doesn't change a ton since Richardson already owns a shitload of them.

 

Should have bought Chick-Fil-A.

mmmmmmmm...chick-fil-a...

 

Hardees hasn't had fried chicken for years.

After some research, there are only a select number of locations that still serve the chicken.

 

fuck chick-fil-a. They aren't open on Sundays