Investment firms Duration Capital and The Jordan Company have reached an agreement to acquire Bojangles’, a quick-service restaurant chain. The transaction is expected to close during the first fiscal quarter of 2019.
The deal has been approved by Bojangles’ board of directors but remains subject to shareholder approval and other customary closing conditions. Upon closing of the transaction, Bojangles’ will continue to operate as an independent, privately held company and will remain based in Charlotte, N.C.
Bojangles’ serves a Southern-inspired menu that includes biscuit breakfast sandwiches, hand-breaded bone-in chicken and a variety of sides. As of July 1, 2018, Bojangles’ had 766 system-wide restaurants, of which 325 were company-operated and 441 were franchised restaurants, primarily located in the southeastern United States.