May 4, 2021 – CHARLOTTE, N.C. – Bojangles, known for its iconic Southern food in more than 760 restaurants throughout the Southeast, announced today a new business venture with experienced operator Chaac Foods Restaurants in what they’re calling the 40 and 40 deal.
The agreement calls for Chaac Foods to open 40 new Bojangles stores over the next seven years, including 20 in Georgia, five in Tennessee and 15 in the Orlando, Florida, area, marking a return for the Bojangles brand. Chaac Foods will also acquire 40 existing corporate-owned Bojangles locations across the Georgia, South Carolina and Tennessee markets.
“We are thrilled to join forces with the accomplished team at Chaac Foods,” said Jose Costa, chief development officer for Bojangles. “The company’s caliber of operations is well-recognized, and to have a partner with that pedigree invest in Bojangles speaks volumes about our brand and our growth plans for the future.”
Chaac Foods Restaurants currently owns and operates a variety of establishments, most notably being 135 Pizza Huts, along with several Cru Food & Wine Bars, Ling & Louie’s, Applebee’s and Panda Express, in nine states. Wanting to diversify and step into the fried chicken market, Chaac Foods turned to Bojangles to begin an exciting and promising journey.
“We welcome Bojangles to the Chaac Foods family and are excited to participate in the growth of this highly regarded brand,” said Sam Banon, senior vice president at Gauge Capital, which acquired Chaac Foods in 2019.
This is the second major franchise development announced this year by Bojangles. In March, the chain signed another large-scale expansion agreement with longtime franchisee Jeff Rigsby. Both deals include opening stores in brand new markets.
About Bojangles, Inc.
Bojangles, Inc. is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from our Southern recipes, including breakfast served All Day, Every Day. Founded in 1977 in Charlotte, N.C., Bojangles® serves menu items such as made-from-scratch biscuit breakfast sandwiches, delicious hand-breaded bone-in chicken, flavorful fixins (sides) and Legendary Iced Tea®. Currently, Bojangles has approximately 760 system-wide restaurants in 14 states. For more information, visit www.bojangles.com or follow Bojangles on Facebook, Instagram and Twitter.
About Chaac Foods Restaurants
Headquartered in Irving, Texas, Chaac Foods Restaurants is a leading platform of established quick-service and casual dining franchisees, including Pizza Hut, Cru Food & Wine Bars, Ling & Louie’s, Applebee’s, Panda Express and soon-to-be Bojangles. Funded by private equity firm Gauge Capital, Chaac Foods is backed by a management team with over 30 years’ experience in the industry and a proven track record for success. The company strives to make customers’ lives easier by providing them with good food, at a fair price, and served promptly.