Lafayette-based Kergan Bros. Sonic has sold its 56 franchise restaurants to a Los Angeles-based investment firm.
Financial details of the sale to Guernsey Holdings LLC were not disclosed in court filings.
“When my brother and I founded Kergan Bros. Sonic in 1977, we only dreamed of what it could become,” said Kergan Bros. CEO Ted Kergan. “While it’s bittersweet, I’m proud to have honored my brother’s legacy. It’s been a privilege to work alongside my Sonic family, who are the best in the business, and I’m grateful for the support of our loyal customers and devoted community partners.”
Kergan Bros. was the state's largest Sonic franchise, with locations in South and Central Louisiana.
With the deal, Guernsey said it now has 84 Sonic locations in Louisiana, Texas and Illinois, making it the fifth largest franchise operator in the company.
Mike James, Guernsey founder and chief executive officer, called Kergan Bros. "one of the most prestigious Sonic businesses in the entire country" in a statement. Kergan shares similar core values, such as focusing on his employees and the community.
"We will build on that legacy and continue Sonic’s positive impact throughout Louisiana,” James said.