realized Investment //
Famous Chicken 'n Biscuits

Bojangles is one of the largest operators and franchisors of chicken quick service restaurants in the United States, with over 500 restaurants located throughout the southeastern United States. Falfurrias Capital acquired Bojangles’ in September of 2007 and grew the business significantly before selling the company to Advent International in August of 2011. Bojangles now trades on the Nasdaq exchange under the ticker symbol BOJA.

Add-on Acquisitions

Seventeen Bojangles’ Franchise Stores: Falfurrias Capital assisted with the identification, strategic assessment, financing, and integration of seventeen franchise locations into company stores.


September 2007
Bojangles' acquisition
September 2007
Appointed industry veteran, Randy Kibler, as chief executive officer
July 2009
Refinanced Bojangles' debt through a series of transactions leading to a reduction of interest of over $6 million per year
August 2011
Bojangles' acquired by Advent International

Operational Value add

  • Assisted with implementing a company store-wide pricing optimization strategy that allowed management to establish prices on a store-by-store basis based on historical sales trends and market demographics of the individual stores
  • Identified and helped integrate a technology-enabled people-resource management process that reduced hourly turnover substantially across company-owned stores
  • Supported the acquisition of seventeen franchise locations including the sourcing, strategic assessment, execution & financing, and ultimately the integration of those stores