Quick Service Restaurant Holdings, the group behind the more than 600 Red Rooster, Oporto and Chicken Treat food chains, has been sold by one private equity firm to another. Archer Capital bought a majority stake in QSR from Quadrant Private Equity for an undisclosed sum, believed to be about $450 million. Management will keep its 10 per cent stake.
Quadrant said the sale provide a more attractive option than a float later in the year because of weak sharemarket conditions. Quadrant initially considered a dual track sale process but decided to proceed with a trade sale to Archer in light of the market volatility, he said.
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