SAN ANTONIO, Texas (KCBD) - The popular Texas hamburger chain, Whataburger, announced on Friday it sold a majority interest to BDT Capital Partners, LLC, a Chicago-based bank that advises and invests in family and founder-led companies.
This transaction positions the chain to explore into future expansion plans, according to a Whataburger news release. With the change there will also be internal leadership realignments but Whataburger’s headquarters will remain in San Antonio.
This transaction is expected to close by the end of summer, but is subject to customary regulatory conditions.
“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,” Whataburger President/CEO Preston Atkinson said in the release.