Wonder Acquires Blue Ribbon Fried Chicken

"The sale is Wonder's latest move in an aggressive expansion strategy, with the company on track to open 1000 locations by 2029 and an IPO launch in 2028. Unlike Wonder's other restaurant brands - which were either created in-house or are existing brands licensed to Wonder - this acquisition represents full ownership. Blue Ribbon is Wonder's seventh acquisition and second this year following its purchase of rewards app, Claim, according to Restaurant Business."

"The sale represents a notable shift for the Brombergs, whose fried chicken helped define Blue Ribbon Brasserie when it opened in Soho in 1992. For over a decade following, the restaurants were thought of as going against the grain. Frank Bruni of the New York Times called the brothers "rebels" when they opened their first sushi bar and grill a half block from Columbus Circle in 2008."

"Today, Blue Ribbon Fried Chicken operates one restaurant in the East Village. When the restaurant opened as a Blue Ribbon spinoff in 2013, then-Eater critic Robert Sietsema predicted it would lead to some sort of scaling up. "The Bromberg Brothers realize that building a healthy coefficient into their operation will pay off handsomely in the future," he wrote. Fast-forward to the present, and the Brombergs have expanded their restaurant empire well beyond Manhattan, opening restaurants in Vegas, Miami, Boston, Nashville, and Philadelphia."

Wonder acquired Blue Ribbon Fried Chicken, gaining full ownership of the brand and its single Manhattan location in the East Village. Financial terms were not disclosed. The acquisition is Wonder's seventh and the company's second purchase this year, following its acquisition of rewards app Claim. Wonder plans to open 1000 locations by 2029 and pursue an IPO in 2028, signaling rapid national expansion. Unlike other Wonder brands that were created in-house or licensed, Blue Ribbon represents full ownership. Blue Ribbon's fried chicken dates to the Brasserie in 1992, and the Bromberg brothers have expanded beyond Manhattan to several major cities.

Read at Eater NY