King & Spalding advised Zaxby's Operating Company L.P. on the signing of a purchase and sale agreement where investment funds managed by the Goldman Sachs Merchant Banking Division will acquire a significant stake in Zaxby’s. The partnership will support accelerated growth for Zaxby's as well as expansion into new sales channels with a guest-focused strategy. The transaction is expected to close before year end.
Founded by childhood friends Zach McLeroy and Tony Townley in 1990, Zaxby’s is committed to serving delicious chicken fingers, wings, sandwiches and salads in a fun, offbeat atmosphere where customers are considered friends. Zaxby’s is headquartered in Athens, Georgia and has grown to more than 900 locations in 17 states with sales of more than $2 billion annually.