Bojangles’ to be Sold to Durational and The Jordan Co. for $595 Million
November 6, 2018
Cleary Gottlieb is representing BofA Merrill Lynch as financial advisor to Bojangles’ Inc. (Bojangles’) in its acquisition by Durational Capital Management LP and The Jordan Co. LP.
Under the terms of the agreement, Bojangles’ stockholders will receive $16.10 in cash for each share of Bojangles’ common stock. The transaction is valued at approximately $595 million.
The transaction is anticipated to close in the first quarter of 2019, subject to stockholder approval and other customary closing conditions.
Founded in 1977 in Charlotte, North Carolina, Bojangles’ is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from its Southern recipes. As of July 1, 2018, Bojangles’ had 766 system-wide restaurants, 325 of which were company-operated and 441 of which were franchised restaurants, primarily located in the Southeastern United States.