Report: Bojangles’ is Considering a Sale

Southeastern fried chicken staple Bojangles’ is considering a sale, according to a Reuters report. Sources familiar with the matter told Reuters the restaurant chain was exploring strategic alternatives that included a potential sale as the industry turns more to consolidation.

According to the report, Bojangles’ is working with Bank of America as it seeks potential buyers, but a sale is not a foregone conclusion. Private equity firm Advent International Corp owns just over half of the 766-unit chain with 441 franchised locations. News of the possible sale propelled the brand’s shares to a 10 percent increase on Friday, Reuters noted.

Read the full report here.