Sixth Street acquires Wingstop

Lemon Pepper Holdings has announced that Sixth Street, a leading global investment firm, has signed a definitive agreement to support Wingstop UK’s continued growth and become the Company’s majority shareholder.

Wingstop UK was founded in 2018 and set out to localise the iconic, global brand by embedding itself in British youth culture. Serving cooked-to-order products with bold signature flavours, Wingstop UK has built a loyal customer base. The Company has industry leading Net Promoter Scores and an aspirational position in the UK fast casual restaurant sector.

Since opening its first site in 2018, Wingstop UK has created over 2,500 jobs and become the UK’s fastest growing restaurant brand. By the end of 2024, Wingstop UK had 57 sites across the UK, with ambitions to reach 200 locations within the next five years. End-of-year revenue for 2024 is expected to be in excess of £150 million. Reports about the acquisition have been ongoing since August, with Sixth Street acquiring the brand for £400m. 

Speaking on the announcement

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.”

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