Fast-casual chain Ike’s Love & Sandwiches has made an investment in three-unit Nashville hot chicken concept Bangin’ Buns, the operator announced Thursday.
An Ike’s spokesperson declined to disclose the amount of the strategic investment.
Leaders from 80-unit Ike’s, including CEO Michael Goldberg, founder Ike Shehadeh, CMO Renae Scott and VP of Development Adam Rinella will take over development, operations and marketing for all future Bangin’ Buns locations, the company said.
Bangin’ Buns was started in 2018 by a group of friends in the San Fernando Valley who started cooking Nashville hot chicken. The chain serves its chicken on a hoagie-style French roll, instead of traditional hamburger buns, which it says makes the sandwiches easier to eat.
“We think this strategic partnership is a great way to leverage the strength of the Ike’s brand and build our restaurant portfolio,” Goldberg said in a statement. “Both Ike’s and Bangin’ Buns have unique flavorful products unlike anything available in the market today.”
The partnership happened after Ike’s founder met the crew from Bangin’ Buns a year ago and realized they had a shared appreciation for menu innovation and “respect for maintaining a fun and irreverent culture in our brands,” Shehadeh said in a statement.
Ike’s has aggressive growth plans for the new concept, with a roadmap to open 15 new units by the end of next year.
Starting in 2023, the company intends to grow both concepts through franchising.
As business begins to normalize coming out of the pandemic, there’s been renewed investment interest in emerging chains. Fast-casual concept Pincho received a $20 million boost from the Savory Fund this week, the same amount single-unit Dirty Bird received from Wags Capital a couple of weeks ago. Last month, Playa Bowls received an investment from two private firms.
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