Church’s Chicken announced the completion of its sale to San Francisco-based private equity firm Friedman Fleischer & Lowe LLC (FFL). Church’s Chicken was formerly owned by Arcapita Bank B.S.C., an international investment firm headquartered in Bahrain. FFL and Arcapita announced the signing of a definitive agreement to sell Church’s in June.
“Now that the transaction is official, the Church’s management team welcomes the opportunity to work closely with the team at FFL to explore new opportunities for the brand,” says Harsha Agadi, president and CEO of Church’s Chicken. “We look forward to further mapping out our long-term growth plans both internationally and domestically with this highly capable and experienced investor team.”
“We are excited to partner with Harsha and the entire management team as we embark on the company’s next phase of growth,” said David Lowe, vice chairman of Friedman Fleischer & Lowe, in a statement. “The opportunity for unit expansion domestically and internationally, as well as for sales growth through menu expansion is compelling.”