The deal, terms of which were not disclosed, was announced at Wingstop’s franchisee convention in Las Vegas. Roark Capital, which is based in Atlanta and specializes in franchised concepts, has a portfolio that includes such restaurant brands as Carvel, Cinnabon, McAlister’s Deli, Moe’s Southwest Grill and Schlotzsky’s.
The acquisition buys out Gemini Investors LLC of Wellesley, Mass., and another private investor who had bought a controlling stake in Wingstop in 2003 and owned about 64 percent of the company.
James Flynn, Wingstop’s chief executive, told NRN that Roark’s expertise in franchising should help Wingstop ratchet up its growth.
“These are guys who have spent years in the restaurant industry and can have significant input into our expansion and profits,” he said.