San Antonio-based Whataburger hires Morgan Stanley to ‘explore our options’

May 16, 2019 GMT

Whataburger confirmed it has hired investment banking firm Morgan Stanley as the San Antonio fast-food chain considers how to fuel its expansion.

It’s unclear whether the options under consideration include selling the company, finding large private investors or selling Whataburger shares on a stock exchange.

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“Our company is growing and is always attractive to investors, and we’ve brought in Morgan Stanley to help us explore our options,” a spokesperson for Whataburger Corporate Communications said in an email. “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.”


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The San Antonio Business Journal on Thursday first reported the Morgan Stanley hire. Earlier this month, Reuters reported that the company was looking at various options, including selling a minority stake to an investor or a private equity firm.

Whataburger, which was founded in 1950 in Corpus Christi, has more than 820 restaurants.