In a move aimed at accelerating the fast-casual restaurant chain’s growth plans, Goldman Sachs will acquire a sizable stake in Zaxby’s. The deal is expected to close by the end of 2020.
Zaxby’s management team is expected to remain in place. “I look forward to working with the team at Goldman Sachs to continue building the brand I founded 30 years ago in Statesboro, Ga. This partnership symbolizes the strength of our company and their involvement will accelerate our growth and expansion into a national brand," said Zach McLeroy, Zaxby's co-founder and CEO in a statement announcing the deal.
Known for its menu of chicken fingers and wings, Zaxby’s has more than 900 restaurants in 17 states. Some observers see this deal with Goldman Sachs as a stepping stone to help the fast-casual Zaxby’s become a more national brand.