Franchise News
QSR: Checkers & Rally's Acquired by Oak Hill Capital Partners for $525 million
The rapidly growing franchise plans to continue expanding after being sold.
Checkers Drive-In Restaurants, the more than 840 unit franchise based in Tampa, has been acquired by Oak Hill Capital Partners for $525 million. Rick Silva, CEO of the rapidly growing franchise, told QSR in a recent article, “We’re not taking a different direction. What we’re really doing is throwing gasoline on a fire here.”
Over the last eight years, Silva has led an incredible turnaround for the brand - profitability has increased by about 20 percent every year for the last seven, and the system has grown, with a goal of having 1,200 locations open by 2020. The sale to Oak Hill Capital Partners certainly helps that "20-20" vision, and estimates from Buxton estimate the company could add 3,000 more units in existing markets alone.
“We’ve got so much exciting growth ahead of us,” Silva told QSR. “It is kind of crazy if you think about it.”
To read the full article, click here.
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About the Author
Brian Jaeger
FollowBrian Jaeger is a Vice President of Media Relations at No Limit Agency. Brian joined No Limit Agency after seven years working for local television news stations in Florida, four years at WCJB in Gainesville and three years at Bay News 9, the 24-hour local news station in the Tampa Bay area. Brian is a graduate of the University of Florida, where he studied journalism and telecommunications. He brings a journalist’s viewpoint to the public relations field, and when he’s not busy telling the stories of No Limit Agency's brands, you can find him writing, on a karaoke stage, or cheering on the Gators.
