Strategic, tech-savvy firm to scale Wingstop over next decade
Wingstop executed an agreement with JPK Capital to add 100 locations in Canada, starting with a store opening in Toronto next year. The new deal will grow the chicken-wing chain’s presence throughout Canada. JPK and its founder, Joe Poulin, will help bring long-term capital, strategy and tech expertise to scale Wingstop over the next decade.
Wingstop’s made-to-order wings, fries and sides proved to be a solid combination as consumers moved restaurant food consumption off-premises amid pandemic scares and lockdowns last year.
This deal with JPK Capital comes on the heels of the Wingstop brand’s 17th consecutive year of positive comparable sales. 2020 was a stellar year for Wingstop, with the QSR chain growing domestic comparable sales by 21.4% and opening 153 net new units (after closures).
Nicolas Boudet, president of International at Wingstop, commented, “We currently see Wingstop addressing a need in the Canadian market with our unique brand positioning and product offering and believe this is a market where we can replicate the success we’ve experienced in the US based on Canadians’ appreciation and craving for bold flavor and high-quality product.
The 100-store agreement will provide great exposure to the brand in a market with similar consumer preferences for to-go ordering and digital engagement, according to a statement. Poulin of JPK Capital founded Luxury Retreats, which was later sold to Airbnb.
“As technology entrepreneurs and investors, we have been impressed with Wingstop’s investment in innovation and look forward to capitalizing on its proprietary tech stack to offer a best-in-class digital and in-restaurant experience to Canadians,” said Poulin.
The Toronto, Ontario restaurant will open in 2022, barring any further border closures or restrictions, announced Wingstop.
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