Bojangles Going Public

[TANTRIC-NINJA]

No company ever goes public because things are going great. Companies go public because they need cash and they need it fast. It's either for massive expansion or because they are hemorrhaging money badly. Let the buyer beware.

They are in focused expansion mode which is why they have updated most all older stores. I doubt it is for anything but growing the brand.

Bojangs is not even in all SEC territory states which is insane to me. Right now they are only a regional brand.

No money bleeding out IMO...quite the opposite.

[Panthro]

No company ever goes public because things are going great. Companies go public because they need cash and they need it fast. It's either for massive expansion or because they are hemorrhaging money badly. Let the buyer beware.

I mean that might be a good thing

[Panthro]

I'll drop some $$$ on some local stock. 

[Panthers8969]

The fries suck. Literally hollow and filled with air

Must've gotten a bad batch

[Firefox]

In before somebody says "Jerry Richardson owns Bojangles."

 

Bojangles' Famous Chicken 'n Biscuits is a Southeastern regional chain of fast food restaurants based in Charlotte, North Carolina,^[2] specializing in spicy, "Cajun" fried chicken and buttermilk biscuits. The company was founded in Charlotte, in 1977 by Jack Fulk and Richard Thomas.

 

Jack Fulk sold the Bojangles' concept to the now defunct New York company, The Horn & Hardart Company,^[4] in 1981.

 

During the time of Horn and Hardart's ownership the chain grew rapidly and expanded to 335 restaurants including 100 restaurants in Florida. Part of this growth was fueled by acquisitions including the Florida-based Biskits chain. The company opened its 600th restaurant on July 8, 2014, on Galleria Road in Charlotte.^[5]

 

In 1990, Horn and Hardart sold most of its interest to Sienna Partners and Interwest Partners. The company was then headed by former KFC executive, Dick Campbell. In 1994 the company attempted a public offering. Dick Campbell was subsequently replaced by CEO Jim Peterson. The company was sold to a group of investors headed by former Wendy's executive Joe Drury and financed by FMAC in 1998.^[6]

 

Bojangles' was purchased once again in 2007 by Falfurrias Capital Partners,^[7] a private equity firm. In August 2011, Falfurrias sold Bojangles' to Boston-based Advent International, another private equity firm, led by operating partner Will Kussell, formerly of Dunkin’ Donuts.^[8]

 

^{http://en.wikipedia.org/wiki/Bojangles'_Famous_Chicken_'n_Biscuits}

[Panthro]

He owns/ed one of their larger franchise groups.

[Nate Dogg]

I'm definitely not inclined to believe they're having money problems. My roommate worked at Bo's in Boone and on game days they would always take in at least 30 grand if not closer to 50k. Even when there weren't football games they would still take in 10-15k every Saturday and Sunday. They've recently opened a 2nd one up there as well only 3 miles away from the other one.

[Firefox]

He owns/ed one of their larger franchise groups.

That was Hardees.  And no he didn't start and own Hardees either.

 

Hardee's founder, Wilbur Hardee, opened his first restaurant in Greenville, North Carolina, on September 9, 1960.^[7] On the strength of its distinctive burger menu items, including the Huskee, the chain experienced rapid growth by franchising and, to a lesser extent, by acquiring other restaurant chains. The first company store opened in Rocky Mount, North Carolina, in May 1961 by James Carson Gardner and Leonard Rawls on McDonald St. in downtown Rocky Mount. That location has since been razed.^[8] According to Wilbur Hardee, Gardner and Rawls won a controlling share of the company from him in a game of poker. After realizing that he lost control over his namesake company, Hardee sold his remaining shares to them as well.^[9] The chain was headquartered in Rocky Mount until 2001.

 

Jerry Richardson (owner of the Carolina Panthers of the NFL) following his NFL career embarked on a successful business career. Richardson used his 1959 NFL championship bonus with the help of Charles Bradshaw to open the first Hardee's Franchise in Spartanburg, South Carolina. The two ended up owning the Hardee's business 50/50. The business expanded rapidly under his hands-on management style. From headquarters in Spartanburg, he co-founded Spartan Foods which was the first franchisee of Hardee's. He later was the CEO of Flagstar, which was the sixth largest food service company in the nation, controlling 2,500 restaurants and 100,000 employees, and retired in 1995.

 

http://en.wikipedia.org/wiki/Hardee's

[RealBitsOfPanther]

cajun filet biscuit combo with bo rounds and a large sweet tea is the business. 

 

boberry biscuits are crazy good too... and the 2 piece meal.....

 

 

 

so pretty much everything they have is amazing.

[Panthro]

You might be slightly misinformed but no worries. 

 

 

Carolina Panthers founder Jerry Richardson's newest business venture could be called a high-stakes game of chicken.

Falfurrias Capital Partners, an investment group headed by Richardson and former Bank of America chairman and CEO Hugh McColl Jr., has purchased a controlling interest in the Bojangles' restaurant chain.

 

http://www.goupstate.com/article/20070914/NEWS/709140321

[Carl Spackler]

Bojangle's main problem is that the quality of their product varies so greatly from store to store.

 

The uptown one and the new one in matthews are divine.

 

Many MANY of them have terrible quality control, especially ones in not-great socioeconomic areas.  Soggy biscuits, soggy fries, burned chicken, etc.

 

They've got some kinks to work out.

 

Refresh my memory, where's the one in uptown?

[Jase]

Refresh my memory, where's the one in uptown?

 

Well, they call it the "midtown" but it is outside the brookshire.  Charlottetowne and 3rd.

[Khyber53]

I only offer my advice as a caution. When the big players want to sell bad, like in this case, there must be a reason. Your mileage may vary.

 

[L-TownCat]

The fries suck. Literally hollow and filled with air

 

Certain individual locations do actually suck at making the food.  Gastonia has one of the worst Bojangles I've ever encountered.  Never eat at the Bo's on New Hope Rd.  Awful, just as Huddler  suggested, overcooked fries, poorly constructed and greasy biscuits and the biggest slap in the face of all, dry supremes.  Bad, just bad.

 

BTW, they gave me a diet drink.  Easily the best way to piss me off.