Checkers, Rally’s Sold For $525 Million

checkers

In a deal valued at $525 million, Oak Hill Capital Partners has signed a definitive agreement to acquire Checkers Drive-In Restaurants from Sentinel Capital Partners. The 844-unit QSR brand operates under the Checkers and Rally’s banners in 29 states and the District of Columbia.

Checkers, which debuted as Rally’s Hamburgers in 1985 and opened the first Checkers a year later, was a public company until 2006 when it was purchased by Wellspring Capital for an estimated $188 million. Wellspring sold Checkers to Sentinel Capital in 2014 for an undisclosed amount.

This deal is different in that Oak Hill is partnering with Checkers management, including CEO Rick Silva, to grow the booming drive-thru chain. Checkers has enjoyed six consecutive years of systemwide same-store sales growth, and anticipates it could have 1,200 locations open by 2020.

The deal is expected to close in the second quarter.

RELATED CONTENT

Fatburger

Fatburger Warms Up to More Sunshine State Plans

The brand, part of the FAT Brands family, initially returned to the state in June 2023.

handshake 1200x800 1

Ojeda USA Adds 3 Rep Firms

The refrigeration solutions provider adds Access Partners, Curate and DJ Marketing to its network.

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -

- Advertisement -