Wingstop: Fast-growing chicken chain on the hunt for buyers of UK business
Fast food chain Wingstop is reportedly on the hunt for potential new owners of its UK business.
The fried chicken restaurant, which is currently majority-owned by three entrepreneurs who introduced the American chain to the UK in 2018, has employed Goldman Sachs to search for new owners, Sky News reported.
The sale was initiated due to unprecedented interest from prospective buyers, albeit the valuation of the business being unclear as of this weekend, the report said.
It is understood that Goldman had begun issuing information about the chicken shop to third parties over the past few weeks, the report added.
Wingstop, which is Britain’s fast-growing restaurant chain, currently has some 49 locations across the UK, with the chain planning to have 57 sites open by the end of the year.
The chicken shop employs around 2,200 workers in the UK and is undergoing rapid growth as it looks to keep pace with the likes of competitors such as Nando’s and Popeyes, as well as the upcoming debut of Chick-fil-A’s first UK site in 2025.
Wingstop had already been a hit in the US for a number of decades, with a sprawling estate of over 1,400 sites. The business was listed in New York back in 2015.
The franchise’s aesthetic is youthful and energetic, and the brand is popular amongst fans of hip-hop and rap. This is much to the credit of rapper Rick Ross, who acquired a number of sites in the US.
Wingstop’s core market is people aged 16 to early 20s, and it sells a variety of fried chicken and chips.
The business has collaborated with brands popular with the youth of today such as JD Sports, launching a Youtube series presented by content creators.
Wingstop UK and Goldman Sachs have been contacted for comment.