Tully Friedman Talks Chicken, Chinese, and the Future of PE
Toward the end of the last decade, private equity firms were hungry for chicken. Really, really hungry for chicken. Falfurrias Capital Partners snapped up fried chicken & biscuits champ Bojangles. Sun Capital went out for Boston Market. And, Friedman, Fleischer & Lowe took home Church’s Chicken. At a time when the U.S. economy was pushing consumers downmarket - from Wal-Marts to the Dollar Store - PE firms wanted to be downstream. Thing is, says Tully Friedman, co-founder of Friedman Fleischer & Lowe, the same consumer that was increasingly likely to bring home more biscuits and birds is now likely to be doing more cooking at home and going out less frequently for dinner. “They were the last to get hit,” Friedman said of the ...
18 November 2011•2 mins read
