ALEXANDRIA, La. — Entering what it calls its “next phase of growth,” Krispy Krunchy Chicken will have some help from a new investment partner with experience in growing foodservice brands.
Private-equity investment firm Main Post Partners has made a strategic growth investment in Krispy Krunchy Chicken, one of the largest branded convenience-store foodservice programs in the country.
Main Post Partners, San Francisco, is known for, among other things, partnering with brands and multilocation foodservice platforms and investing in growth companies across the consumer value chain. The companies did not disclose the size of the investment.
“We’ve built and grown the Krispy Krunchy brand over multiple decades by relying on the word-of-mouth marketing and loyalty that develops when consumers are introduced to our highly craveable Cajun fried chicken,” said Dan Shapiro, who was promoted to CEO at Krispy Krunchy Chicken in November from executive vice president. “During the next phase of growth, we are excited to partner with Main Post, given their deep experience in the foodservice sector and track record of building enduring consumer brands.”
Alexandria, La.-based Krispy Krunchy Chicken, which recently rolled out new breakfast items, was founded in 1989 by Neal Onebane, a c-store operator in Lafayette, La., who saw an opportunity to bring freshly made, high-quality food products to the c-store market.
Krispy Krunchy Chicken partners with retail operators, primarily in c-stores, to provide a branded QSR-style foodservice offering in a flexible format. The Krispy Krunchy menu features a proprietary Cajun fried chicken and signature sides. Over its 32-year history, Krispy Krunchy has built a following with consumers and grown to serve more than 2,600 retail locations in 48 states, the company said.
“We are very excited to partner with Dan, the Krispy Krunchy team, and a brand that has struck a chord with its avid customer base,” said Aaron Garcia, principal at Main Post Partners. “The scale and success of KKC is very impressive, but we see a substantial opportunity to further unlock the brand’s potential and grow awareness of Krispy Krunchy’s craveable, convenient products.”
Jeff Mills and Sean Honey, co-managing partners at Main Post Partners, added, “Our partnership with KKC aligns with our strategy of investing in high-growth, cult-following consumer businesses, particularly in first institutional capital situations. Our experience partnering with and scaling foodservice concepts, such as Jimmy John’s and Flynn Restaurant Group, provide invaluable resources which we will bring to bear with KKC.”
Shapiro has been at Krispy Krunchy Chicken since 2006. He previously spent many years operating c-stores.
Brookline Capital Partners served as the financial advisor and Katten Muchin Rosenman served as the legal advisor to Krispy Krunchy Chicken; Davis Wright Tremaine served as legal advisor to Main Post Partners.
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