Advent Buys Bojangles Restaurants

Approximately four years after acquiring the fried chicken concept, Falfurrias Capital Partners, a Charlotte-based private equity firm, has sold Bojangles' Restaurants Inc. to Advent International, a global private equity firm based in Boston.

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The transaction is expected to close later this summer but speculation about a sale involving Bojangles began to appear back in February of this year. Bojangles, which was founded in 1977, has roughly 500 locations across 11 states in the southeast.

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Advent has stated it intends to complete its investment alongside the Bojangles' leadership team, according to a company press release.

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