Whataburger Exploring Sale, Company Confirms After Hire of Morgan Stanley

Whataburger is exploring possibilities that could include possible sale to a private equity firm or financial investor, the privately-held company said after its hire of Morgan Stanley, the multinational investment bank and financial services company.The San Antonio-based fast food chain confirmed the possibility to Reuters earlier this month. Whataburger operates more than 800 locations nationwide, according to its website; most of them are in Texas."Our company is growing and is always attractive to investors, we constantly get inquiries," Whataburger said in a statement provided to the news service. "We have always evaluated the opportunities that can accelerate growth and maintain the success of our brand, and we will continue to do so in the future."One source said the company's value could top $6 billion.The Business Journals reported that Whataburger posted sales of more than $2.2 billion in 2017, citing trade publication QSR. The figure placed the chain 22nd among its s 50 biggest limited-service restaurants based on sales, above others such as Hardee's, Carl's Jr. and Five Guys.  Continue reading...

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