Texas-based burger chain Whataburger has announced that BDT Capital Partners, LLC, a merchant bank that advises and invests in family and founder-led companies, has agreed to acquire a majority interest in the brand through its affiliated funds.
BDT and the Whataburger team will now begin exploring expansion plans, with the headquarters remaining in their current location in San Antonio, led by a team of key Whataburger executives with more than 150 years of combined experience with the brand.
Whataburger’s president and CEO, Preston Atkinson, said: “Whataburger has grown significantly over the years. 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.”
Atkinson said that BDT respected and admired the brand he had built, and that they would preserve this while while helping to grow a sustainable, competitive business over a long period of time
Tiffany Hagge, Managing Director of BDT Capital Partners, said: “Whataburger is an iconic brand and extraordinary company with an important legacy of family ownership, loyal customers, valuable community involvement, dedicated and talented employees, and a highly experienced management team.
“We look forward to a long-term partnership with the Whataburger team, continuing their commitment to serving high-quality, great-tasting food at a value and delivering a superior customer experience.
“We are excited to support Whataburger as they continue to innovate and pursue accelerated growth in existing and new markets.”