Private equity firm Sixth Street has acquired a majority stake in Lemon Pepper Holdings. The deal is valued at $532 million (£400 million). Lemon Pepper Holdings is the UK master franchisee for the Wingstop fried chicken chain.
The company was founded by Tom Grogan, Herman Sahota, and Saul Lewin. The founders entered the restaurant industry with no prior experience. They successfully launched the US brand in the UK, growing it to 57 locations.
The acquisition provides capital for significant expansion. Lemon Pepper Holdings plans to open 200 UK sites within the next five years. The deal is one of the largest takeovers of a restaurant brand in Britain. It highlights strong investor confidence in the fast-food sector and the Wingstop UK brand.
