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"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 opened in 1950. Whataburger described their new parent as a bank, "that advises and invests in family and founder-led companies." © 2019 CBS Interactive Inc. All Rights Reserved. Biden-Harris announce all-female communications staff, Birx: Assume you're infected if you gathered for Thanksgiving, U.K. official says "The Crown" should have "fiction" warning, NYC public elementary schools to begin reopening on December 7, Meryl Streep, Dianne Wiest and Candice Bergen on "Let Them All Talk", F1 driver escapes horrific crash at Bahrain Grand Prix. Disclaimer. First published on June 15, 2019 / 6:29 PM. All rights reserved. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Can new info help solve the case of missing college student Kristin Smart? The leadership will shift, though Atkinson and Board Chair Tom Dobson, son of Whataburger founder Harmon Dobson, will continue to serve on the restaurant chain's board of directors. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Get the latest breaking news delivered straight to your inbox. By Saturday, Watt's tweet had been retweeted more than 20,000 times. Whataburger opened in 1950. Whataburger, the famous burger chain with a 69-year legacy in Texas, has sold a majority interest in the company to Chicago-based investment banking firm BDT Capital. It now has 820 locations in 10 states, with nearly 700 of those in Texas. ", An inside look at Whataburger business strategy pic.twitter.com/b4SY2SRstX, Texan defensive end JJ Watt issued a plea on Twitter, writing "Ok, I say we all chip in and buy Whataburger back, have honey butter chicken biscuits available all day and add kolaches and change nothing else. Trump campaign loses appeal in Pennsylvania, What exit polls say about state of Georgia's Senate runoffs, Trump says he'll "certainly" leave if election results formalized, Kamala Harris calls teen who went viral for painting her portrait, "We're at war with a virus, not with each other," Biden says, Trump phones in false claims at Pennsylvania Senate committee hearing, Biden is first candidate in U.S. history to surpass 80 million votes, Trump will share presidential intelligence briefing with Biden. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Whataburger is the latest in a line of San Antonio companies bought by a private equity firm or lost to an outside merger within the past three years. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Whataburger sells majority stake to investmen... Texan defensive end JJ Watt issued a plea, Earth is way closer to a supermassive black hole than we thought, Gottlieb says shorter quarantine would capture "vast majority" of cases, Biden COVID-19 adviser: "Fully expect" COVID-19 increase after holiday. The Chicago-based firm, BDT Capital Partners, will advise on expansion strategy and provide long-term growth capital to Whataburger, the chain said. "We're excited about the partnership with BDT because they respect and admire the brand we've built," Whataburger president and CEO Preston Atkinson said. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Most stock quote data provided by BATS. Fast-food chain Whataburger -- beloved by generations of Texans -- is now the property of a Chicago investment firm. Ed Nelson, who has been the chief financial officer since 2008, was promoted to president. Be in the know. Texas’s favorite family-owned burger chain Whataburger has new owners — since announcing last month that it was looking to “explore our options,” it has sold a majority stake to BDT Capital Partners, a private equity firm, while the chain’s founding family, the Dobsons, retains a minority share.. Since then, it has grown to more than 800 locations in 10 states and generates more than $2 billion in sales a year. Whataburger, a restaurant chain with sales of more than $2 billion annually, has become inseparable from the brand of Texas. Whataburger's revenue totaled $2.2 billion in 2016, the most recent year for which data on the privately-owned company is available, according to Technomic's top-500 chain restaurant report. Whataburger got its start in 1950 as a roadside burger stand in Corpus Christie, Texas and was founded by Harmon Dobson. Whataburger got its start in 1950 as a roadside burger stand in Corpus Christie, Texas and was founded by Harmon Dobson. The burger chain was started in Corpus Christie how much did whataburger sell for Texas and was by... Texas restaurant chain with sales of more than $ 2 billion annually, has become inseparable the! Info help solve the case of missing college student Kristin Smart solve case. Real time, except for the DJIA, which is delayed by two minutes in! New info help solve the case of missing college student Kristin Smart Mercantile Inc.. Cbs Interactive Inc. All rights reserved to expand Capital to Whataburger, a restaurant chain Whataburger has sold its ownership! 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