Bussiness

Whataburger sells majority ownership stake to Chicago company – CNN

Whataburger sells majority ownership stake to Chicago company – CNN

(CNN)The family-owned Texas chain Whataburger has sold its majority ownership to a Chicago investment firm in a bid to expand.The Chicago-based firm, BDT Capital Partners, will advise on expansion strategy and provide long-term growth capital to Whataburger, the chain said. Whataburger headquarters will remain in San Antonio, the company said in a statement. “In order…

(CNN)The family-owned Texas chain Whataburger has sold its majority ownership to a Chicago funding firm in a converse to amplify.

The Chicago-basically basically based entirely firm, BDT Capital Partners, will voice on expansion contrivance and provide long-time length negate capital to Whataburger, the chain said.
Whataburger headquarters will live in San Antonio, the corporate said in a insist.
“In converse to retain fulfilling our customers, we own been exploring a spread of suggestions to amplify the tag and introduce it to new audiences,” Whataburger President and CEO Preston Atkinson said in an announcement.
“Now we own passed by this project purposefully and diligently because we wished to hunt down a associate who honors our values, culture and 69-twelve months legacy of family tradition.”
The management will shift, even though Atkinson and Board Chair Tom Dobson, son of Whataburger founder Harmon Dobson, will proceed to again on the restaurant chain’s board of directors.
Ed Nelson, who has been the manager financial officer since 2008, become once promoted to president.
Whataburger opened in 1950. Since then, it has grown to bigger than 800 areas in 10 states and generates bigger than $2 billion in sales a twelve months.

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