Investment group to acquire majority interest in Whataburger

Investment group to acquire majority interest in Whataburger”

"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 legend has it that in 1950, customers lined up around the block for the 100% beef burgers during the restaurant's first week.

In a news release, Whatauburger President/CEO Preston Atkinson says, "Whataburger has grown significantly over the years".

"This is both exciting and bittersweet for the Dobson family", said Whataburger Board Chairman Tom Dobson.

Whataburger now has 828 locations across ten states.

The founding family, The Dobson Family, will still hold a minority ownership in the company.

Several months ago, Whataburger officials announced they had hired Morgan Stanley to help explore options to help the already-successful chain expand further.

According to the release, the decision was an emotional one for the Dobson family.

"It's kind of weird to talk like it's our football team or something, but when you think Texas you think Whataburger", Odessan and Whataburger fan Ethan Burtram said.

Atkinson says BDT wants to preserve the brand they have built while helping the company continue to grow a sustainable, competitive business over a long period of time. "They are trusted advisors and partners who have worked closely with other family businesses and they have a tremendous reputation for doing the right thing".

The acquisition is expected to be completed later this summer, but the company has already made some internal leadership changes described as "internal promotions". It now has more than 800 locations in 10 states.

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