Photo courtesy of Whataburger
Whataburger sells majority stake in company
The iconic Texas burger chain Whataburger has sold its majority interest in the company to BDT Capital Partners, the company announced Friday.
Whataburger’s headquarters will remain in San Antonio. The company’s founding family will be minority stakeholders in the burger chain.
BDT and Whataburger will explore expansion plans with plans to stay true to the brand.
“Whataburger has grown significantly over the years,” said Preston Atkinson, Whatabruger president and CEO. “And, in order to keep satisfying our customers, we’ve been exploring different options to expand the brand and introduce it to new audiences. We’ve gone through this process purposefully and diligently because we wanted to find a partner who honors our values, culture and 69-year legacy of family tradition.
“We’re excited about the partnership with BDT because they respect and admire the brand we’ve built. They want to preserve it while they help us continue growing a sustainable, competitive business over a long period of time. They don’t plan to change our recipe for success.”
Tiffany Hagge, managing director of BDT Capital Partners, said BDT looks forward to a long-term partnership with Whataburger to continue high-quality service and great-tasting food.
“We are excited to support Whataburger as they continue to innovate and pursue accelerated growth in existing and new markets,” Hagge said. “This investment is a perfect example of BDT’s business model – to partner and invest alongside exceptional family businesses, with strong cultures, deep community ties and loyal customers.”
Terms of the deal were not disclosed.