Unbridled Capital recently provided sell-side advisory services to Sam Smith and his family on the sale of 5 Popeye’s restaurants in Tennessee. The restaurants were sold to new franchisee OW Chicken Star, LLC.
“When deciding to sell, we needed an experienced advisory firm who had a broad reach in the QSR industry. Unbridled’s success rate in matching buyers and sellers was a convincing reason to connect with them. Early in the process, Rick provided a realistic expectation on how to move forward with financial objectives in mind. Their attentiveness, industry knowledge, and past experiences across all brands were evident early on. Tony and his team did a masterful job coaching us through the data gathering phase and putting together an appropriate bid package. After several competitive offers, Unbridled helped us select OW Chicken Star, LLC, providing leadership and insight throughout the evaluation period. We are excited to see what OW Chicken Star, LLC will do with the Popeye’s brand in Tennessee. For anyone in the industry who may be considering a sale, I highly recommend Unbridled Capital!” said franchisee Sam Smith.
“We are very thankful to the Smith’s for placing their trust in Unbridled. They are a great family, it was an honor to work for them, and we wish them the very best in their future endeavors. This is now the second Popeye’s deal we have closed in the past few months. We are also actively involved in several other Popeye’s assignments, and I expect Unbridled will be very effective in the brand going forward. We congratulate both parties on this successful sale! And to OW Chicken Star, LLC, we welcome them as new franchisees into the Popeye’s system. They are a repeat buyer at Unbridled, having completed a deal several years ago in the Taco Bell brand. We are excited to see them grow within Popeye’s too,” 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].