KSAT -- Whataburger has hired financial service giant Morgan Stanley to help the San Antonio-based fast food chain “explore options” for the company’s future growth.
While the options remain unclear, Reuters reported earlier this month that the company is looking into possibly selling a minority stake to a private investor or an equity firm.
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The move could also signal a possible expansion for the successful chain.
KSAT obtained a statement from Whataburger in regards to the hiring Morgan Stanley that read:
“Our company is growing and is always attractive to investors, and we’ve brought in Morgan Stanley to help us explore our options. We have always evaluated the opportunities that can accelerate growth and maintain the success of our brand, and we will continue to do so in the future.”
Whataburger is a privately held company with more than 800 restaurants across the Southeast and Southwest region of the United States.
The company was founded by Harmon Dobson and Paul Barton in 1950, and now headquartered in San Antonio.
It is still owned and operated by the Dobson family, but has some franchise restaurants.
According to Reuters’ sources, Whataburger could get an evaluation of more than $6 billion.