Winging it to a £400m fortune: How Wingstop's UK founders who started franchise with no restaurant experience are set for bumper payout after selling Stormzy's beloved fried chicken chain to US private equity firm
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It started with a 'cold call' email - but now three Brits with no previous restaurant experience are set to cash in on a £400million fried chicken windfall. Tom Grogan, Herman Sahota and Saul Lewin are the UK entrepreneurs who have just secured a deal selling their Wingstop business to a Californian private equity firm.
They met while all working in the real estate trade and yet decided to chance their arm moving into fast food six years ago - sending an email to the US firm which was founded in Texas in 1993 by Antonio Swad. Mr Grogan, now 34 as is Mr Sahota while Mr Lewin is 47, has told how it took more than six months to make their case for setting up a British arm of the firm.
And they ultimately succeeded despite having no background in restaurants, going on to now have 57 sites across the UK and employing 2,500 staff. The trio will now get to cash in on the British franchise's sale to private equity investors Sixth Street, while retaining minority stakes.
The deal marks one of the largest takeovers of a restaurant brand in this country - and comes after cannily targeting Gen Z and millennial consumers. Mr Grogan has described having his interest in the US company first piqued when hearing it recommended by rapper Rick Ross, who has invested in his own Wingstop franchise branches.