The sale of rapidly expanding franchise Checkers & Rally's to Oak Hill Capital Partners was the culmination of a nearly decade-long turnaround engineered by CEO Rick Silva. According to a recent article in Restaurant Finance Monitor, the deal was for $525 million and will fuel the brand's continued growth moving forward.
“Today is a wonderful day, but it’s part of a full 10-year journey for us,” Silva told Restaurant Finance Monitor shortly after the announcement. “We focused on, of course, driving topline sales and we’ve had six consecutive years of same-store sales growth, we’re up 3.5% this year, up over 3% last year too,” he added.
Silva and the Checkers team was focused on a goal of 1,200 units by 2020, but on the heels of the deal with Oak Hill Capital Partners, Silva told RFM he thinks they'll far surpass that goal.
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