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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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
Published: Dec, 23 2024 11:38

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.

 [Among the fans of the firm is Croydon-raised, Brit Award-winning rapper Stormzy]
Image Credit: Mail Online [Among the fans of the firm is Croydon-raised, Brit Award-winning rapper Stormzy]

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.

 [The first of the company's British restaurants opened in 2019 in Cambridge Circus in central London, near the West End and Soho]
Image Credit: Mail Online [The first of the company's British restaurants opened in 2019 in Cambridge Circus in central London, near the West End and Soho]

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.

 [Reality TV star Kylie Jenner (right) is among fans seen tucking into Wingstop's fried chicken]
Image Credit: Mail Online [Reality TV star Kylie Jenner (right) is among fans seen tucking into Wingstop's fried chicken]

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.

 [Tom Grogan (pictured), one of the three founders launching the company's UK arm, has told of how 'proud' they are as he announced a sale to private equity firm Sixth Street]
Image Credit: Mail Online [Tom Grogan (pictured), one of the three founders launching the company's UK arm, has told of how 'proud' they are as he announced a sale to private equity firm Sixth Street]

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