Company News
Bojangles Partners with Kingsbarn and LVP Restaurant Group to Propel Expansion in Las Vegas and Western U.S.
Leading Chicken Franchise Enters Las Vegas and Adds 30 New Restaurant Locations to Development Pipeline
Charlotte, N.C.--(BUSINESS WIRE) -- Bojangles, one of the nation’s leading franchises famous for its iconic chicken, biscuits and tea, announced today the signing of a multi-unit development agreement to bring 20 new restaurants to Las Vegas, as well as the development of restaurants within 10 TravelCenters of America franchise locations across Western markets. The expansion will be led by TravelCenters of America franchisee, LVP Restaurant Group, LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital as the developer. The two entities have cultivated a highly experienced team of quick-service restaurant (QSR) operators and real estate professionals to further propel Bojangles’ growth in a key market.*
“This expansion represents an incredible opportunity to share Bojangles with the Las Vegas community. The city's energy and unparalleled entertainment aligns with our brand’s commitment to delivering unforgettable experiences,” said Jose Armario, chief executive officer of Bojangles. “We identified the ideal partners in LVP Restaurant Group, LLC, and Kingsbarn Realty Capital, who provide local industry knowledge and an authentic passion for Bojangles. We are looking forward to serving our legendary chicken, biscuits and tea, for both Las Vegas locals and visitors alike.”
Founded by Lissette Amiel, LVP Petroleum’s executive team has over 30 years of experience in the QSR industry. Jeanette Davis, the group’s vice president of food and franchise brands, will lead the construction and development of the new Bojangles restaurants in Las Vegas. Before joining LVP, Davis served as the director of operations of 13 different QSR brands within 107 locations across the United States. Guy Madmen, chief operating officer; Val Amiel, chief financial officer; and Quyntyn Johnson, senior vice president of operations, will drive strategic vision, staffing, training and more for the group’s new locations.
Kingsbarn Realty Capital provides institutional and accredited investors access to an array of alternative real estate investments in the Las Vegas area. In partnership with LVP Restaurant Group, LLC, Kingsbarn will work to identify and acquire properties suitable for the new Bojangles developments. Driven by Jeff Pori, chief executive officer; Anthony Hama, managing director; and Eli Applebaum, senior strategic advisor, the firm has over $1.95 billion of assets under management, a $2 billion development pipeline, and has acquired over 270 properties within the U.S.
“To further expand our QSR portfolio, we were in search of a rapidly growing brand with distinct differentiators from other concepts. It was clear Bojangles was the brand we needed,” said Jeanette Davis. “Las Vegas has a diverse and vibrant community that appreciates bold and distinctive flavors. Bojangles perfectly fits into the city’s culinary landscape and provides a delicious alternative for breakfast, lunch and dinner. We can’t wait to introduce Las Vegas to the joy and flavor that Bojangles brings, and we look forward to having the brand become an integral part of the community.”
Last month, Bojangles announced the launch of its expansion strategy, including a streamlined menu, new building design and new staffing model. The strategy was developed to simplify operations and enhance the guest experience. The brand has implemented this new strategy within seven restaurants, most recently in Lancaster, Texas; Euless, Texas; Sanford, Florida; Memphis, Tennessee; Clarksville, Arkansas; Monroe, Louisiana, and Ruston, Louisiana.
Bojangles’ compounding success and record AUV of $2.1 million for full-size franchised restaurants has continued to position the concept for further expansion. With 37 percent of sales at company-operated restaurants coming during the breakfast daypart and a variety of prototypes with features such as its “Biscuit Theatre,” the brand’s key differentiators continue to attract multi-unit operators. To learn more about Bojangles’ development and franchise opportunities, please visit https://bojanglesfranchising.com.
About Bojangles
Bojangles is a highly differentiated and growing restaurant chain dedicated to serving customers high-quality, craveable food made from our Southern recipes. Founded in 1977 in Charlotte, North Carolina, Bojangles® serves menu items such as made-from-scratch biscuit breakfast sandwiches, delicious hand-breaded chicken, flavorful fixins (sides) and Legendary Iced Tea®. Currently, Bojangles has approximately 800 systemwide restaurants in 15 states. The brand has garnered noteworthy industry recognitions including being named No. 6 in the Top Chicken Franchises to Buy in 2023 by Entrepreneur Magazine, ranked #45 in Technomic’s 2022 Top 500 Chains, and #32 in QSR’s 2022 Top 50 Fast Food Chains. For more information, visit www.bojangles.com or follow Bojangles on Facebook, Instagram and Twitter.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $2 billion of assets under management and has acquired over 270 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, industrial, retail, and hospitality. For further information, visit www.kingsbarn.com.
Bojangles Media Contact:
Callie Chambers
Fish Consulting
cchambers@fish-consulting.com
(954) 893-9150
Kingsbarn Media Contacts:
Emma Williams & Holly Silvestri
The Ferraro Group (702) 367-7771
emma@theferrarogroup.com
holly@theferrarogroup.com
No Offer
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
Forward-Looking Statements
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.