Private equity firm Brentwood Associates has acquired a majority interest in fast-casual restaurant company SSRG Holdings (Chicken Salad Chick) from Eagle Merchant Partners.
Founded in 2008, Chicken Salad Chick has 137 locations throughout 16 states predominantly in the South-East and opened its first restaurant in Auburn, Alabama.
Going forward, Chicken Salad Chick CEO Scott Deviney will continue to lead the business.
Under the ownership of Eagle Merchant Partners, the chain opened more than 100 new units.
Deviney said: “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.”
All restaurants of Chicken Salad Chick feature more than a dozen chicken salad flavours and offer dine-in, take-out, drive-thru and catering.
Eagle Merchant partner Stockton Croft said: “We are extremely proud of Chicken Salad Chick’s achievements during our ownership, which resulted in a seven-fold increase in system sales and over 100 new restaurants.
“Chicken Salad Chick is a truly differentiated company with tremendous growth ahead. It has been an honour to work with such a wonderful organisation.”
Brentwood Associates partner Rahul Aggarwal said that Chicken Salad Chick’s model fits well within the company’s strategy of investing in high-growth consumer businesses.
The companies have not disclosed the financial terms of the transaction.
Chicken Salad Chick offers 15 different flavours of chicken salad, sandwiches, soups, salads and desserts.
Last month, it announced the expansion of its store network in North Carolina with the addition of a new restaurant at 1131 Military Cutoff Road in Wilmington planned for this month.