Chicken quick-serve restaurant chain changes hands

Investment group sells Church's chicken

June 17, 2009

Cashing in on consumer demand for cheaper meals, Islamic investment group Arcapita has sold Church's Chicken to San Francisco-based Friedman Fleischer & Lowe, reported the Financial Times.

The deal, quoted as closing at $390 million, has been pegged as one of the Top 5 U.S. buyouts of the year by Dealogic.

Church's, with 1,700 restaurants worldwide, is the third-largest chain of chicken quick serve restaurants.

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