Wingstop UK sells majority stake to Sixth Street
Sixth Street owns Wingstop franchise Far West Services in the US and has backed ventures such as Airbnb, Spotify and Real Madrid CF
US private equity firm Sixth Street has announced that it has acquired a majority stake in Lemon Pepper Holdings, the UK arm of Wingstop.
The terms of the deal have not been disclosed but according to City AM the value of the deal is at least the £400m asking price.
While Sixth Street will have a majority stake, founders Tom Grogan, Herman Sahota and Saul Lewin will all retain minority stakes.
It comes as Wingstop is aiming to reach 200 restaurants within the next five years with revenue expected to exceed £150m by the end of the year.
Sixth Street owns Wingstop franchise Far West Services in the US and has backed ventures such as Airbnb, Spotify and Real Madrid CF.
Chris Sherriff, CEO at Wingstop UK, said: “This is a major step in our journey as we build the pre-eminent fast casual restaurant brand in the UK and Ireland. 2025 is shaping up to be another landmark year and our focus remains on growing sustainably with the agility to seize the right opportunities as they arise.
“I want to say a huge thank you to our co-founders, whose leadership and vision have been instrumental in building Wingstop UK into one of the most dynamic brands, and to all our teams across the UK who are the drivers of our success, providing our loyal customers with industry-leading service and amazing flavour. The partnership with Sixth Street represents an excellent strategic and cultural fit for Wingstop UK. Together we are excited by the expansion opportunities ahead while retaining our unwavering focus on youth culture and the communities we serve.”
Kayvan Heravi, co-head of Consumer at Sixth Street, added: “We are incredibly excited to partner with Chris, Paddy and the rest of the team to continue to grow the Wingstop brand in the UK and Ireland, and to deepen our partnership with Wingstop Inc. globally.
“As existing investors in Wingstop Inc. in the United States through our investment in Far West Services, we have seen first-hand the power of the Wingstop brand with its unique value proposition that has continued to grow and resonate over the past 20+ years. We believe that the opportunity for the brand globally, and in the UK and Ireland specifically, is only just beginning.”
