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Whataburger sold to Chicago Investment Firm, no longer family owned:

Whataburger is no longer family owned. As of Friday, a majority interest has been sold to Chicago-based investment bank BDT Capital Partners.

The Burger chain will remain headquartered in Texas, and the group will "start exploring expansion plans". There are currently more than 700 Whataburger stores in 10 states.

"Whataburger has grown considerably over the years. And in order to satisfy our customers, we have explored various options to expand the brand and present it to new audiences. We have reviewed this process purposefully and diligently because we wanted to find a partner honoring our values, culture and 69-year heritage of family tradition, Whataburger President / CEO Preston Atkinson says.

"We are delighted with the partnership with BDT because they respect and admire the brand we have built," Atkinson continued. "They will preserve it while helping us grow a sustainable and competitive business over a long period. They're not going to change our recipe for success."

"More than anything, we are beyond gratitude for our 43,000 Whataburger Family Members working in our restaurants 24/7, "said today's chairman Tom Dobson. "And to our Whataburger fans: You are part of our family. And as we grow, we know that our Whataburger team will continue to make you proud."

Image: Whataburger restaurant at North Century Boulevard in Century. picture, click to enlarge.

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