Reviewed by: Pat Byington
Why this local investor bought 43 Burger Kings in Alabama
Earlier this year, local investment group Starboard Investments acquired 43 Burger King restaurants across Alabama.
We spoke with President and CEO Brandon Stewart to learn why and what he has planned for these Burger Kings in Alabama.
About Brandon Stewart and Starboard Investments
Headquartered in the Forbes Building in downtown Birmingham, Starboard Investments is a local investment group that specializes in operating fast-casual franchises throughout the Southeast.
The company is led by Brandon Stewart, a Georgia native who made the move to Birmingham in 2010.
“I studied finance in college, then moved to Charlotte, NC to do investment banking and then private equity in Boston. My wife had fond memories of Birmingham from her childhood, so it seemed like a good place to move and to raise a family. We love it here.”
Brandon Stewart, President and CEO, Starboard Investments
While working in private equity, Brandon discovered that his true passion lay in operating the businesses he had worked with.
“I knew that I wanted to operate a business, but I couldn’t find any existing businesses that I could afford, so I settled on franchising.
The previous company that I worked for had an investment in Jimmy John’s as a portfolio company, and I fell in love with the brand, so I decided to invest.”
Brandon Stewart, President and CEO, Starboard Investments
Brandon opened the first Jimmy John’s in the Birmingham area in 2011 and operated the restaurant as general manager. After two and a half years, Starboard Investments opened a second Jimmy John’s at the Shops of the Colonnade and expanded from there, building nine units in Alabama.
In 2016, Starboard Investments partnered with another equity group to add more Jimmy John’s to their portfolio, operating 62 units at their peak.
From Jimmy John’s to Burger King
In 2022, Brandon received a LinkedIn message from Burger King asking if he had any interest in joining the brand.
“Burger King is an established brand that’s been around for a long time, so I was very interested. They spent a ton of time vetting me; several interviews and they sent people to my stores to check company culture and the like.”
Brandon Stewart, President and CEO, Starboard Investments
Once Burger King approved Brandon, they brought him into the loop: a large Montgomery-based portfolio of Burger King franchises was anticipated to hit the market soon.
“I sold my Jimmy John’s later that summer, and the banker representing the deal called to ask if I was still interested. It was really the right place, right time and right opportunity for me.”
Brandon Stewart, President and CEO, Starboard Investments
The portfolio consists of 43 Burger King restaurants in Birmingham and South Alabama.
Starboard Investments’ plans for these restaurants
“First and foremost, our goal is to improve operations and customer service in each of our restaurants. In addition, we plan to completely remodel over half of our 43 units over the next five years”
Brandon Stewart, President and CEO, Starboard Investments
So far, Starboard Investments has invested over a million dollars to replace equipment in its Burger Kings and is planning to spend more than a million per unit to remodel its new restaurants.
Excited to see what’s next for these Burger Kings in Alabama? Tag us @bhamnow to let us know.
