By Rebekah Gonzalez
Photo: Getty Images
A San Diego restaurant investment firm announced on Monday, August 2, that it will be buying Church s Chicken, reports the
High Bluff Capital Partners announced that it entered a definitive agreement to acquire the restaurant chain. The firm also owns Quiznos and Taco Del Mar. At a time when the entire restaurant industry has faced unprecedented challenges, Church’s has stood out as a notable bright spot, having emerged from the pandemic with considerable tailwinds that strongly position the brand for tremendous growth geographically as well as in the overall chicken category,” said High Bluff founder
High Bluff Capital to acquire Church s Chicken
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San Diego Company Buying Church s Chicken Chain Of Restaurants
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FFL Partners to sell Church s Chicken to High Bluff Capital Partners
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Quiznos has faced quite the rocky road in the past dozen years.
The chain, founded 40 years ago, once boasted roughly 5,000 stores. Since 2007, that figure decreased rapidly due to a variety of factors, including the Great Recession due to its heavy office footprint, a growing number of fast casuals entering the space, and issues with franchisee profitability.
In the past four years, the chain went from roughly 500 U.S. stores to fewer than 300. Sales dropped from about $180 million in 2018 to $160 million in 2019, or a 11.1 percent decline, according to FoodserviceResults. In between that time, Quiznos was acquired by REGO Restaurant Group, which is backed by High Bluff Capital Partners, a private equity firm specializing in transformation opportunities.