Hugh McColl, Jerry Richardson Group Buys Bojangles
Former Bank of America CEO, president of Charlotte Panthers lead private equity group’s buyout efforts.Posted — Updated
CHARLOTTE — Falfurrias Capital Partners, a private equity firm that includes Hugh McColl and Jerry Richardson, has purchased a controlling interest in fast-food chain Bojangles’ Holdings.
McColl is a former chief executive officer at Bank of America. Richardson is founder and president of the NFL Charlotte Panthers.
Financial terms were not disclosed. Bojangles’ is privately held.
Richardson already owns one of the largest Bojangles’ franchise groups.
“Bojangles’ is a tremendous brand that has been built on the foundation of quality products and superior service,” said Marc Oken, co-founder and managing partner of Falfurrias Capital Partners, in a statement. “We are excited about Bojangles’ growth potential and believe that the strategic vision and operating experience that Hugh McColl and Jerry Richardson bring to Bojangles’ will be invaluable as our team moves forward with the mission of continued growth.”
Bojangles’ was founded in 1977. It operates 386 restaurants in 11 states, Honduras and Mexico.
Falfurrias was founded in 2006 by McColl and Oken, a former chief financial officer at Bank of America.
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