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By: Kerry Pipes | 285 Reads | |
Private equity firm Area 15 Ventures, LLC, has acquired fast-casual brand Daddy’s Chicken Shack. The emerging brand was formed in 2018 by Pace Webb and Chris Georgalas and now has 160 locations in development.
Colorado-based Area 15 Ventures is owned by RE/MAX co-founder and chairman Dave Liniger and first invested in Daddy’s Chicken Shack in 2021. The new investment gives the private equity firm full ownership of the chicken brand.
“I love this concept and am grateful to Pace and Chris for providing the groundwork to take this brand to the next level,” said Dave Liniger, chairman of Area 15 Ventures. “I’m thrilled to acquire full ownership, and we’re excited to move forward with our development goals.” Liniger will become the brand’s chairman and has plans to open his first location in Scottsdale, Arizona later this month.
“The past two years have been an incredible and exhilarating ride with Area 15 Ventures as we have built Daddy’s Chicken Shack’s systems, training and processes to support rapid expansion through the regional developer model. The kind of brand interest and rapid growth is unparalleled,” said Pace Webb, Daddy’s Chicken Shack co-founder.
Just a month ago, Area 15 Ventures acquired Port of Subs, a 50-year legacy sandwich brand based in Nevada. The firm plans to expand both brands by supporting upcoming openings with existing franchisees, as well as securing additional regional developers in new territories.