Unbridled Capital recently provided sell-side advisory services to Blue Chip Restaurants LLC, JPL Management Inc., and related entities, led by Andrew Schory, on the sale of 24 restaurants (16 Burger Kings and 8 Popeyes) in Kentucky and Indiana. The restaurants were sold to existing franchisee Newell-Berg Alliance, LLC, NB Foods II, and related entities, led by Kevin Newell.
“I first met Rick maybe ten years ago through a mutual friend in church ministry. I remember when Unbridled started to attend the BK and Popeyes Conventions to expand their M&A services in both brands. Having followed their growth and impressive success rate, I was convinced they were the best advisory firm to represent the sale of my companies. In the marketing phase, Unbridled provided a variety of options of well-qualified buyers with Kevin emerging as the logical choice. Unbridled was right by my side during the execution phase of the deal, and I am very thankful to Rick and Peter for their efforts in helping us reach success. For any Burger King or Popeyes franchisee, I would highly recommend hiring Unbridled Capital,” said franchisee Andrew Schory.
“Several years ago, we made the strategic decision to increase our M&A presence in Burger King and Popeyes. Our strategy was simple: to seek the same top-quality franchisees we have represented in other brands, and when hired, to tirelessly help them achieve their goals. The Schory family is a perfect example of the type of client we love – long-tenured, successful, family-oriented, sincere, and determined. Because there were substantial assets in two brands, this transaction was complicated during the marketing process, buyer selection, due diligence, and transfer approval between the various entities and franchisors. We are thankful to Kevin Newell for his persistence in getting to the closing table. To the Schory family, we thank them for choosing Unbridled, we will miss Andrew at conventions, but we are excited for the next phase of their lives. Congratulations to everyone on a job well done,” said Rick Ormsby, Managing Director.
As a condition of this closing, Unbridled will give a charitable contribution to the Burger King Foundation, whose mission is to create brighter futures by empowering individuals and feeding potential through education and emergency relief. We want to be a blessing because we have been blessed.
Unbridled’s business within the Burger King and Popeyes brands continues to grow, and we maintain an industry-leading closing percentage of over 90%. For more information, please contact Rick Ormsby at 502-252-6422 and [email protected].