A BELOVED fried chicken chain is exploring a sale that could value the company at more than $1.5 billion, according to reports.
Rumors of a potential transaction comes just days after the parent company of Subway, Roark Capital, bought Dave’s Hot Chicken.
Subway’s parent company bought a $1 billion stake in Dave’s Hot Chicken (stock image)[/caption]
Another fried chicken chain is also looking at a potential sale this month (stock image)[/caption]
Bojangles is worth around $1.5 billion (stock image)[/caption]
Dave’s Hot Chicken is a relatively new brand, it started in Los Angeles in 2017 and quickly expanded to 300 franchise locations nationwide.
It’s yearly sales for 2024 alone grew by 57% at $600 million.
Needless to say, Dave’s Hot Chicken has been on a hot streak and the fast food industry took notice.
That’s why Roark Capital officially purchased a stake in the brand earlier in June for $1 billion.
Now, the longstanding and highly popular southern chicken chain Bojangles’ Famous Chicken n’ Biscuits is looking to shake things up with potential sale of its business, per a report from The Wall Street Journal.
Bojangles could sell its assets for over $1.5 billion, about three times its value in 2019 when it was bought out by private equity firms Durational Capital Management and TJC.
It was an all-cash transaction at $590 million.
The US Sun has contacted Bojangles for more information on its potential sale.
Currently, Bojangles has around 800 locations nationwide after humble beginnings in Charlotte, North Carolina, back in 1977.
The purchase would come amid the overall “Chicken Sandwich Wars” that’s been coined for restaurants in 2025 as they scramble to meet consumer demand for chicken-based offerings.
HIGH DEMAND
According to findings in a press release from Research and Markets in March, the chicken market is expected to be a $268.35 billion industry by 2033.
Reasons for this increase demand in chicken has been attributed to a desire for “inexpensive protein, [and] growing health consciousness that favors lean meat.”
“The expansion of fast food and quick-service restaurants, urbanization, improvements in poultry farming, and the popularity of processed and ready-to-eat chicken products are some of the factors driving the chicken market’s growth,” the release noted.
“Chicken-based menu items including fried chicken, chicken sandwiches, and chicken nuggets have become mainstays in QSR offerings as consumer preferences change toward convenience and quick meals.”
Fast Food meal deals
Here are some of the current value meals offered by popular fast food joints.
Taco Bell’s $7 Luxe Cravings Box:
- Chalupa Supreme
- Beefy Five-Layer Burrito
- Double Stacked Taco
- Chips and nacho cheese sauce
- Medium drink
McDonald’s $5 Meal Deal:
- McDouble or McChicken sandwich
- Four-piece Chicken McNuggets
- Small fries
- Small soft drink
Wendy’s $5 Biggie Bag:
- Junior Bacon Cheeseburger or Crispy Chicken Sandwich
- Four-piece chicken nuggets
- Junior fries
- Small soft drink
Burger King’s $5 Your Way Meal:
- Whopper Junior, Chicken Junior, or Bacon Cheeseburger
- Fries
- Four-piece chicken nuggets
- Soft drink
MCDONALD’S MISSION
Fast food giants like McDonald’s, for example, have noted plans to have chicken be a point of focus going forward.
CEO Chris Kempczinski noted this during an earnings call at the end of last year.
“We’re excited about the significant opportunity we see within our chicken portfolio and see the potential to add another point of chicken market share by the end of 2026,” he told investors.
McDonald’s already brought the McCrispy Strips to menus at its over 13,600 locations nationwide in early May after tests last summer.
Just earlier this month, it finally confirmed the return date of the Snack Wrap, another chicken-based offering, after a leak from an employee.
Competing restaurants like Culver’s also confirmed that it would be making major updates to “run-of-the-mill” chicken sandwiches.
A popular chain dubbed “better than Popeyes & KFC” by some customers is also opening at least 10 more locations this year.
