Unbridled Capital recently provided sell-side advisory services to Bacon Enterprises and affiliated companies and the Shelton family on the sale of 11 KFC restaurants and 2 KFC/Taco Bell restaurants in Virginia and North Carolina. The restaurants were sold to existing franchisee KBP Foods, led by Mike Kulp and Barry Dubin.
“We are very thankful for Unbridled’s representation of our family. Deciding to sell was an emotional decision and, through this process, we witnessed how much effort, expertise, and perseverance are needed to achieve excellent results. Rick and Derek did a superb job of securing competitive offers for our business and representing our interests. They were extremely knowledgeable of the KFC system, tireless in the details of our deal, and brought significant experience to calmy solve any issues that arose. I can speak for our entire family – we are extraordinarily pleased with their work, and we consider them as friends. I would recommend Unbridled to anyone considering an advisor to help sell their franchise business,” said third-generation franchisee Marcus Shelton.
“Getting to be part of this deal was a huge honor. The Shelton’s are a very special family and represent everything I love about our wonderful franchise industry – the patient and faithful representation of the American Dream. Their KFC journey began in 1964 and has successfully spanned 57 years and three generations of hard-working service as franchisees. They built an incredible business, achieving sales and profits I have rarely seen in the KFC system. Many of us are better people for knowing their family, and I can personally attest to the integrity and excellence of their legacy. It will not be forgotten! We wish the Shelton family the very best as they enter a new chapter of their lives, and we send a hearty congratulations to KBP Foods on yet another successful closing. For Unbridled, we are super-thankful for the continued trust and support from the Yum community. We love KFC!” said Rick Ormsby, Managing Director.
While 2021 looks to be a record year of franchise M&A for Unbridled, we are now seeing a flood of new business outreach. It appears that 2022 could be another strong year in-the-making as franchisees capitalize on high valuations - and as capital gains tax legislative changes become clearer. Stay tuned for more assignments in the coming months.
Unbridled is currently engaged in about 25 sell-side assignments and continues to maintain a fantastic closing percentage of over 90%. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected]