A majority interest in Whataburger is being sold.
According to a statement released by the fast food company, it has agreed to sell a majority interest to BDT Capital Partners, a merchant bank that specializes in founder-led companies.
The statement says Whataburger will continue to be headquartered in San Antonio, “and led by a team of key Whataburger executives…”
Our NBC affiliate in San Antonio reports that additionally, Whataburger states it remains committed to “its customers and communities” and “will remain dedicated to making a meaningful impact on their local communities.”
“Whataburger has grown significantly over the years. And, in order to keep satisfying our customers, we’ve been exploring different options to expand the brand and introduce it to new audiences. We’ve gone through this process purposefully and diligently because we wanted to find a partner who honors our values, culture and 69-year legacy of family tradition,” said Whataburger President/CEO Preston Atkinson.
The Dobson Family, which founded Whataburger, will keep a minority ownership position.
“While this has been a difficult and emotional decision for the family, Tom, Lynne and Hugh Dobson believe BDT Capital is the right partner to take Whataburger into the future,” the statement read.