Unbridled Capital recently provided sell-side advisory to Rudoni Management, Inc. on the sale of 7 KFC restaurants in Michigan. Dana, Steve Jr. and Christi Rudoni were third generation franchisees, and their parents Steve and Lynn started with a single KFC in 1976 in Mount Pleasant, Michigan. Many will know Steve Rudoni, who passed away in 2015 and was a longtime advocate for KFC franchisees through decades of service to the brand. The restaurants were sold to Bells & Birds, Inc., a multi-unit Taco Bell and KFC franchisee based in Michigan.
“Having never bought or sold a restaurant, our family did not know how to sell our KFC business. We turned to Unbridled Capital, and they did a superb job of navigating each step of the process: finding multiple offers, selecting the best buyer, negotiating a purchase agreement, attaining Corporate approval, facilitating due diligence and reaching a successful closing. The Unbridled team was patient, confident, knowledgeable and deeply experienced. They represented us with excellence, and we give them the highest endorsement in the sale of our KFC business,” said Dana Rudoni.
“The Rudoni family has been a household name in the KFC system since 1976. They are wonderful people who care deeply about KFC and have a true sense of legacy and family – both are rare to see in franchising today. We congratulate them on this sale and thank them for over 43 years of service to the KFC brand. Additionally, we send our best wishes to the Bells and Birds team as they continue to grow their KFC footprint in Michigan,” said Rick Ormsby, Managing Director.
As a condition of this closing, Unbridled Capital will make a charitable contribution to the KFC Foundation. We want to give back to the employees who are so important to the success of the KFC brand. We want to be a blessing because we’ve been blessed.
With several hundred restaurants under current M&A assignments, Unbridled Capital provides the franchise community with unrivaled investment banking services. For more information, please contact Rick Ormsby at 502-252-6422 or [email protected].