Hopdoddy is being sold to the owner of Chopt and Dos Toros
Founders Table acquires Hopdoddy, expanding its fast-casual portfolio to over 200 locations.
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Founders Table Restaurant Group is acquiring the fast-casual burger chain Hopdoddy, which has 47 locations and generated $138 million in system sales. The deal aims to leverage Founders Table's operational infrastructure to accelerate Hopdoddy's growth. With this acquisition, Founders Table now operates more than 200 locations and almost $500 million in annual revenue.
Why It Matters
This acquisition may provide opportunities for greater scalability and enhanced unit economics for franchisees under the Founders Table umbrella. Additionally, it may compress available territories in the fast-casual segment as Founders Table continues to expand its brand portfolio.
Founders Table Restaurant Group has announced its acquisition of Hopdoddy, a fast-casual burger chain based in Austin, Texas. While the financial terms of the deal were not disclosed, this acquisition expands Founders Table’s portfolio, which already includes brands such as Chopt, Dos Toros, Field Trip, and Protein Bar. Collectively, these brands operate over 200 locations and generate nearly $500 million in annual revenue.
Hopdoddy currently operates 47 locations across the United States, with 30 situated in Texas. The chain has reported system sales of $138 million, with an average unit volume of approximately $2.9 million per location. Known for its “better burger” offerings, Hopdoddy also features a bar menu serving boozy shakes, margaritas, and local craft beers.
Nick Marsh, CEO of Founders Table, remarked that Hopdoddy is “a standout brand with all the ingredients we look for: a differentiated concept, passionate guest loyalty, and a commitment to quality that resonates across markets.” He emphasized that his company’s operational platform would help Hopdoddy accelerate its growth by providing shared resources across its brands, including operations, technology, real estate, and supply chain.
As part of the transition, Jeff Chandler, who has led Hopdoddy for a decade, will transition to a board advisory position, while Kenny Jett, the chain’s current VP of operations, will assume the role of president. This leadership change is expected to maintain continuity within the brand as it integrates into Founders Table’s structure.
There are no immediate antitrust or regulatory concerns reported regarding the deal. Franchise investors and operators should note that while the acquisition indicates a commitment to expanding the Hopdoddy brand, it may also bring about shifts in support systems and royalty structures that could affect franchisees in the long term.
Moving forward, industry watchers may be interested in how well the brand utilizes Founders Table’s shared resources to enhance growth and maintain customer loyalty.
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