Advent Buys Bojangles Restaurants

Approximately four years after acquiring the fried chicken concept, Falfurrias Capital Partners, a Charlotte-based private equity firm, has sold Bojangles' Restaurants Inc. to Advent International, a global private equity firm based in Boston.

The transaction is expected to close later this summer but speculation about a sale involving Bojangles began to appear back in February of this year. Bojangles, which was founded in 1977, has roughly 500 locations across 11 states in the southeast.

Advent has stated it intends to complete its investment alongside the Bojangles' leadership team, according to a company press release.

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