Three entrepreneurs who started a fried chicken franchise have sold their business for a whopping £400million.
In one of the biggest take-overs deals for a restaurant brand in Britain the UK arm of Wingstop will be acquired by California-based private equity firm Sixth Street.
The restaurant was started from scratch six years ago by Tom Grogan, Herman Sahot, and Saul Lewin who opened the first Wingstop in central London in 2018.
The company now boasts 57 sites and employs 2,500 staff, The Times reports.
Wingstop is the fastest-growing restaurant brand in the UK and the American fast food chain, has over 1,926 locations in the US.
The business markets itself by tapping the popular music of the day and boasts Stormzy as a fan of the restaurant.
In November online service Deliveroo, which delivers from restaurant and takeaway chains and grocers, published a list of its 10 ‘top trending’ items of the year.
Wingstop topped the list with its eight boneless wings being the most ordered dish by UK Deliveroo users.
The restaurant was started from scratch six years ago by Saul Lewin, Tom Grogan, and Herman Sahot
Wingstop is the fastest-growing restaurant brand in the UK with 57 sites and 2,500 staff
The rapid expansion of the chain is set to continue and Sixth Street aim to have 200 sites by 2029
The dish was not only extremely popular in Britain – it’s Deliveroo’s second-biggest seller worldwide.
The boom in Wingstop UK has coincided with the popularity of YouTube shows, such as Hot Ones where celebrities eat spicy wings while being interviewed.
The rapid expansion of the chain is set to continue and Sixth Street aim to have 200 sites by 2029 and will acquire a majority stake in Lemon Pepper Holdings, which operates Wingstop in the UK and Ireland.