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January 22, 2021

Rackson Restaurants secures investment from City Capital Ventures

New Jersey-based Burger King and Popeyes Franchisee Rackson Restaurants has secured a majority investment from City Capital Ventures (CCV), a Chicago-headquartered private investment partnership.

New Jersey-based Burger King and Popeyes Franchisee Rackson Restaurants has secured a majority investment from City Capital Ventures (CCV), a Chicago-headquartered private investment partnership.

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The companies did not reveal the size of the investment made.

Led by co-owner and CEO Chris Johnson, Rackson operates 55 Burger King and Popeyes restaurants in six Northeastern and Mid-Atlantic US states.

The money will be used by Rackson Restaurants for the development of a multi-branded QSR platform in Northeastern US marketplace.

Johnson said: “I am excited to partner with CCV at this critical moment in Rackson’s growth journey. CCV stood out as an exceptional partner for the company given their patient, long-term approach, and we share big dreams to build an industry-leading QSR management company.

“Furthermore, the calibre and expertise of CCV and their advisors will strengthen our operational excellence and turbocharge our growth strategy.”

Commenting on the investment, CCV co-founder and managing partner Dan Kipp said: “Rackson has a strong presence in the Northeast and Mid-Atlantic with an attractive, profitable base of restaurants, and we look forward to supporting Chris Johnson as he continues to focus on operational excellence and growth through acquisition.”

It is CCV’s second investment into the Burger King system. It acquired Canada’s largest Burger King franchisee, the Redberry Group, in 2019.

As part of the investment, Kipp will join Rackson’s board of directors.

The investor group consists of Saxonwold Capital, which is led by Rob Selati, the current senior adviser at Madison Dearborn Partners.

Selati will assume the role of Rackson’s chairman and will be joined by Gary Graves, an operating adviser of CCV.

Selati said: “CCV and its operating advisers have extensive experience in the Burger King System through Redberry, as well as the restaurant industry in general. I am confident we will quickly leverage this knowledge to help Rackson achieve its strategic growth plan and build meaningful equity value in the years ahead.”

Free Report
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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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