Wingstop (NASDAQ:WING), a rapidly expanding UK quick-service chicken chain, has hired Goldman Sachs to find new owners for its UK business, according to Sky News.
Wingstop (NASDAQ:WING)'s majority shareholders, who introduced the brand to Britain in 2018, reportedly initiated the sale after receiving unsolicited interest from potential buyers.
Goldman has begun distributing information about Wingstop UK, owned by Lemon Pepper Holdings, to prospective buyers.
The chain plans to open its 50th UK outlet soon and aims for 57 locations by year-end, with ambitions to eventually reach 400 to 500 sites, said the Sky report.
The sale coincides with increased competition from brands like Popeyes and Chick-fil-A, which is set to enter the UK market in 2025. Wingstop's US parent company holds a 20% stake in the UK operation.