Whataburger has announced it has sold a majority stake to Chicago-based merchant bank BDT Capital Partners which advises and invests in family and founder-led companies.
The BDT and Whataburger teams will now begin looking into expansion plans.
In a news release, Whatauburger President/CEO Preston Atkinson says, “Whataburger has grown significantly over the years. And, in order to keep satisfying our customers, we’ve been exploring different options to expand the brand and introduce it to new audiences. 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."
The company says its headquarters will remain in San Antonio and it also announced several new internal positions.
Atkinson and Board Chair Tom Dobson will be stepping aside but will hold seats on the Whataburger board of directors. For a full look at the new positions you can go here.
Whataburger was started in 1950 when Harmon Dobson opened a small roadside burger stand in Corpus Christi. It now has more than 800 locations in 10 states.