The popular Chicken Salad Chick franchise has been acquired by a Los Angeles-based private equity firm, Brentwood Associates.
According to reports, the firm has acquired a majority interest in the franchise from Atlanta’s Eagle Merchant Partners.
The terms of the acquisition have not been revealed.
Chicken Salad Chick was founded in Auburn in 2008 and has 137 locations in 16 states.
Chicken Salad Chick CEO Scott Deviney will continue with the business in leadership.
“We are very excited to partner with Brentwood on the next chapter for Chicken Salad Chick,” Deviney said in a statement. “Brentwood’s long track record of working with leading restaurant companies coupled with their understanding of our business objectives and strategy make them the perfect partner for us to continue executing on our robust growth and expansion plan.”
North Point Advisors, LLC advised Chicken Salad Chick on the transaction, while King & Spalding LLP provided legal counsel. Brentwood was represented by Burr & Forman LLP.
“Chicken Salad Chick’s model fits well within our strategy of investing in high-growth, best-in-class consumer businesses," Brentwood partner Rahul Aggarwal said.
Stockton Croft, partner at Eagle Merchant Partners, said the company during its ownership saw a seven-fold increase in system sales, with more than 100 new restaurants added.