Ever wondered how much Chicken Salad Chick sold for? The fast-casual restaurant chain founded by a stay-at-home mom was acquired by Brentwood Associates in 2019 for an estimated $150 million. This impressive valuation reflects the brand’s remarkable growth from a home kitchen experiment to a thriving restaurant franchise with hundreds of locations across the United States
From Kitchen Counter to Multi-Million Dollar Deal
Stacy Brown was just a stay-at-home mom with four young children when she started making chicken salad in her kitchen and selling it door-to-door, Little did she know that her homemade recipe would eventually become the foundation of a restaurant empire worth millions
The journey wasn’t always smooth. In fact, the Health Department quickly shut down her door-to-door sales operation, informing her that what she was doing was illegal. But instead of giving up, Stacy and her late husband Kevin pivoted, opening their first storefront in 2008.
As Stacy recalls, “Although I now use the term ‘founder,’ that word didn’t exist for me nine years ago. At that time, I was known as, ‘The woman stupid enough to open a restaurant that only serves chicken salad.'”
That “stupid” idea turned out to be brilliantly successful. By 2015, the company had:
- Surpassed $45 million in sales
- Expanded to 63 units
- Attracted the attention of investors
The Acquisition Timeline
The Chicken Salad Chick journey to acquisition followed these key milestones
- 2008: Stacy Brown starts selling chicken salad door-to-door
- 2008: First storefront opens after Health Department shuts down home operation
- 2015: Eagle Merchant Partners acquires a stake in the company
- 2017: Company reaches $9.8 million in revenue with 62 locations
- 2019: Brentwood Associates acquires majority interest from Eagle Merchant Partners
What Drove the $150 Million Valuation?
Several factors contributed to Chicken Salad Chick’s impressive valuation when Brentwood Associates acquired the company:
1. Explosive Growth
Under Eagle Merchant Partners’ ownership from 2015 to 2019, Chicken Salad Chick:
- Increased system sales seven-fold
- Expanded from 63 to 137 locations across 16 states
- Landed at Number 37 on the Inc. 5000 list with an annual growth rate exceeding 6,000%
2. Strong Brand Identity
Chicken Salad Chick established a unique market position with:
- A specialized menu focused on various chicken salad recipes
- Southern hospitality as a core brand value
- Strong community involvement
- A loyal customer base
3. Proven Franchise Model
The company demonstrated the effectiveness of its franchise system with:
- Successful expansion primarily in the Southeast
- A replicable business model
- Comprehensive training and support for franchisees
- Strong unit economics
4. Ambitious Growth Plans
At the time of acquisition, Chicken Salad Chick had announced plans to:
- Open 250 units in the following five years
- Expand beyond its Southeastern stronghold
- Increase annual new restaurant openings to 30-40 locations
The Role of Brentwood Associates
Brentwood Associates, the private equity firm that acquired Chicken Salad Chick, brought significant expertise to the table:
- Restaurant Industry Experience: Brentwood was already an investor in other restaurant concepts like Blaze Pizza and Lazy Dog
- Growth Focus: The firm specializes in consumer-focused investments with growth potential
- Long-term Vision: Brentwood typically holds investments for around six years
Rahul Aggarwal, partner at Brentwood, explained their interest: “Chicken Salad Chick’s model fits well within our strategy of investing in high-growth, best-in-class consumer businesses. We look forward to working with Scott and the Chicken Salad Chick team to build upon their success in the markets they serve.”
A Family Business at Heart
What makes the Chicken Salad Chick story particularly compelling is how Stacy and Kevin balanced running a fast-growing business with raising their four children.
“It was teamwork,” Stacy explained. “Kevin knew from the start that my goal was to be the best mother I could be, and my idea of accomplishing that was to stay at home with them. With that in mind, we decided that the restaurant would only serve lunch and that we would be closed on Sundays.”
This family-first approach shaped key business decisions:
- Limited operating hours to allow for family time
- Closed on Sundays
- Involving their children in the business
Stacy added, “Sure, it would have been easy to stay at work longer or open on Sundays to bring in more money, but our commitment was to our family. As difficult as it was at times, our family became stronger because we remained faithful to that decision.”
Tragedy and Transition
In 2015, Kevin Brown tragically passed away from colon cancer. This personal tragedy forced significant changes in both Stacy’s life and the business.
“I lost my best friend, my husband, my business partner who helped create everything – I was devastated,” Stacy recalled. “We rarely spent any time apart because we were always actively seeking new ways to improve various aspects of the restaurant. When I lost him, I lost the other half of me.”
Fortunately, before Kevin’s passing, the Browns had:
- Built a strong team of dedicated professionals
- Brought on new business partners
- Hired Scott Deviney as CEO
These decisions enabled the company to continue growing despite the profound loss of its co-founder.
Where Is Chicken Salad Chick Today?
Since the 2019 acquisition by Brentwood Associates, Chicken Salad Chick has:
- Expanded to over 200 locations across 17+ states (as of late 2023)
- Maintained its core brand identity and menu offerings
- Continued its aggressive expansion strategy
- Preserved its commitment to quality and community
Could There Be Another Sale in the Future?
Given Brentwood Associates’ typical investment timeline of around six years, there could potentially be another sale or transaction involving Chicken Salad Chick in the coming years. Options might include:
- Sale to another private equity firm
- Acquisition by a larger restaurant group
- Initial public offering (IPO)
- Continued private ownership with Brentwood
FAQs About Chicken Salad Chick’s Valuation and Sale
Can I invest in Chicken Salad Chick?
Currently, Chicken Salad Chick is privately owned by Brentwood Associates, so you cannot purchase shares on public markets. However, you might consider franchise opportunities if you’re interested in being part of the brand.
Did the original founders still own the company when it sold to Brentwood?
By the time of the 2019 sale, Stacy Brown had already transitioned to more of a visionary role. After her husband Kevin’s passing in 2015, the company had brought in new partners and professional management.
Did the sale affect the quality of the food?
According to available information, while recipes may have been refined over time for consistency and efficiency, the core menu offerings and quality standards have generally remained the same following the acquisition.
How does Chicken Salad Chick compare to other restaurant acquisitions?
The estimated $150 million valuation represents a significant amount for a relatively young restaurant concept, highlighting the brand’s strong growth trajectory and market potential.
Lessons from Chicken Salad Chick’s Success
The Chicken Salad Chick story offers valuable insights for entrepreneurs:
- Find your niche: A focused concept (even one as specific as chicken salad) can be incredibly successful
- Overcome obstacles: When the Health Department shut down her home operation, Stacy pivoted rather than gave up
- Balance business and personal priorities: The Browns built their business model around their family values
- Build a strong team: Having the right people in place enabled the company to survive even after Kevin’s passing
- Be open to outside investment: Partnering with experienced investors fueled accelerated growth
Final Thoughts
Stacy Brown’s journey from making chicken salad in her kitchen to building a restaurant empire that sold for an estimated $150 million is truly remarkable. Her advice to aspiring entrepreneurs reflects the values that guided her success: “Truly define what success means to you. Make business decisions based on your core values.”
For Stacy, success wasn’t just about the bottom line. As she puts it, “My answer to the question ‘What do you do for a living?’ is ‘I spread joy, enrich lives and serve others — one bite of chicken salad at a time.'”
That purpose-driven approach, combined with a unique concept and strong execution, created a restaurant brand valuable enough to command a nine-figure acquisition price – proving that sometimes, the “stupid” ideas turn out to be the most brilliant ones of all.
Is Chicken Salad Chick a Home Based franchise?
No. Chicken Salad Chick is not a home based franchise opportunity.
Is Chicken Salad Chick a Master Franchise Opportunity?
No. Chicken Salad Chick is not a master franchise opportunity.