Chicken Chain Zaxby's to Open First NYC Location
The chicken restaurant chain Zaxby's will debut its first New York City location on the Upper East Side. The new restaurant will be located at 1267 First Avenue, marking the brand's entry into the city's competitive fast-casual food market.
- Founded in a Georgia college town in 1990 by childhood friends Zach McLeroy and Tony Townley, Zaxby's has grown to over 900 locations, primarily concentrated in the Southeastern U.S. - Investment firm Goldman Sachs acquired a majority stake in the company in late 2020; the deal valued the company at approximately $2 billion and turned its two founders into billionaires. - The chain is in the midst of a national expansion beyond its Southern base, with recent openings and development deals in markets like Las Vegas, Philadelphia, and New Jersey. - To facilitate growth in dense urban areas, the company has developed a smaller, more flexible "Modern Farmhouse" restaurant prototype that can reduce buildout costs and fit into non-traditional spaces. - Zaxby's operates primarily on a franchise model, with the average unit volume for its measured franchised restaurants reaching $2.782 million. - In 2022, Bernard Acoca, former CEO of El Pollo Loco, was appointed as Zaxby's chief executive, marking the first time a non-founder has led the company. - As of 2021, the chain was ranked the fifth-largest chicken concept in the U.S. by QSR magazine, placing it behind competitors like Chick-fil-A, KFC, and Popeyes Louisiana Kitchen.
