Slim Chickens secures investment to accelerate growth

18th July 2019 (Last Updated July 18th, 2019 15:41)

Fast-casual restaurant chain Slim Chickens has secured an equity investment from US-based private equity firm 10 Point Capital.

Fast-casual restaurant chain Slim Chickens has secured an equity investment from US-based private equity firm 10 Point Capital.

The undisclosed investment will support its plans to open 600 new locations over the next ten years.

As part of its expansion plans, Slim Chickens is currently developing more than 350 locations globally.

The fast casual chain also operates over 80 locations across 14 US states, the UK, and Kuwait.

Slim Chickens co-founder and CEO Tom Gordon said: “Greg Smart and I started Slim Chickens over 16 years ago with a mission to bring Southern hospitality and fresh, high-quality chicken to a fast-casual setting.

“Our growth with new franchise agreements has been exceptional in the first half of 2019. In the past quarter alone, the restaurant chain has signed 60 new restaurant agreements with impressive, experienced multi-unit franchisees.

“With 10 Point Capital’s unique support and expertise, we believe we have the resources necessary to achieve our goal of 600 stores in the next ten years.”

10 Point Capital managing partner Tom Wells said: “At 10 Point Capital, we help founders create dominant franchise brands, and Slim Chickens is certainly a vibrant, distinctive brand. Whether in Little Rock, Arkansas or Central London, we found in our diligence that Slim Chickens has quickly established a loyal following in whatever market it enters.”

Earlier this month, Slim Chickens expanded its presence in the UK by opening its fourth location in Birmingham, England.

The company also plans to open additional locations in Southaven, Mississippi and Owasso, Oklahoma in the coming weeks, as well as a series of new openings across the Southeast and Midwest US this autumn.

Slim Chickens chief operating officer Sam Rothschild said: “Our growth is really starting to reach the velocity we’ve been working towards.”

Furthermore, the fast food chain is currently looking for single and multi-unit franchisees to open locations in the Southeastern, Midwestern and Northeast US.