Brentwood Associates (“Brentwood”), a consumer-focused private equity firm, announced it has entered into a definitive agreement to acquire a majority interest in SSRG Holdings, LLC (“Chicken Salad Chick” or the “Company”) from Eagle Merchant Partners.

Chicken Salad Chick has 137 locations throughout 16 states predominantly in the Southeast and is a leading fast-casual restaurant company. It has earned numerous accolades, including rankings in Franchise Times' Fast & Serious; Fast Casual.com's top Movers and Shakers and Entrepreneur's Top Food Franchises for two consecutive years.  QSR recognized the company as one of the “Best Franchise Deals” and Nation's Restaurant News named it to the Next 15 in 2019.

The transaction is expected to close in November 2019. Terms of the deal are confidential.

Chicken Salad Chick was founded in 2008 by Stacy and Kevin Brown when they opened the first restaurant in Auburn, Ala.  The brand is famous for its made-from-scratch and healthy chicken salads as well as its authentic service.  All Chicken Salad Chick restaurants feature over a dozen distinct chicken salad flavors made fresh daily and served by the scoop, sandwich or bowl. Each chicken salad is named in honor of an important woman in Stacy’s life.  The fast-casual restaurants also feature homemade pimento cheese and egg salad, as well as fresh sides, soups and desserts. Chicken Salad Chick restaurants offer dine-in, take-out, drive-thru and catering. Chicken Salad Chick is led by CEO Scott Deviney, who will continue to lead the business going forward.

“We are very excited to partner with Brentwood on the next chapter for Chicken Salad Chick,” Deviney said. “Brentwood’s long track record of working with leading restaurant companies coupled with their understanding of our business objectives and strategy make them the perfect partner for us to continue executing on our robust growth and expansion plan.”

Rahul Aggarwal, partner at Brentwood, commented, “Chicken Salad Chick’s model fits well within our strategy of investing in high-growth, best-in-class consumer businesses. We look forward to working with Scott and the Chicken Salad Chick team to build upon their success in the markets they serve.”

Stockton Croft, partner at Eagle Merchant Partners, added, “We are extremely proud of Chicken Salad Chick’s achievements during our ownership, which resulted in a seven-fold increase in system sales and over 100 new restaurants.  Chicken Salad Chick is a truly differentiated company with tremendous growth ahead.  It has been an honor to work with such a wonderful organization.”

North Point Advisors, LLC advised Chicken Salad Chick on the transaction, while King & Spalding LLP provided legal counsel. Brentwood was represented by Burr & Forman LLP.