Kerry Pipes | Featured in: Multi-Unit Franchisee Magazine: Issue 3, 2021
Luis Ibarguengoytia embraces bold moves. The 46-year-old president of Chaac Foods is fresh off the signing of a new mega deal with Bojangles, finalizing an agreement in early May to open 40 new Bojangles over the next 7 years, including 20 in Georgia, 5 in Tennessee, and 15 in the Orlando area. But that was just part of the deal. The company also acquired 40 existing corporate-owned Bojangles locations in Georgia, South Carolina, and Tennessee.
The result is a multi-brand company with more than 160 locations: 118 Pizza Huts, 40 Bojangles, and 8 airport locations in Dallas.
Born and raised in Mexico, Ibarguengoytia learned the ropes of franchising during his time at Sun Holdings, one of the largest franchisees in the U.S. Starting his career as manager of a Golden Corral restaurant in 1998, he quickly worked his way up to COO at Sun Holdings. He spent the next two decades guiding Sun Holdings through dozens of restaurant builds and acquisitions. As COO at Sun Holdings, he oversaw more 950 stores with more than 14,000 employees.
In 2006, Ibarguengoytia founded Four Leaf Ventures and began operating restaurants in the two main airports in Dallas. He opened a Bennigan’s, then followed with Ling & Louie’s, CRU Wine Bar, Salt Lick, Bruegger’s Bagels, GNC, Twisted Root, Cafe Izmir, Panda Express, Applebee’s, Rodeo Bar, and Cantina Laredo.
Since 2019 Ibarguengoytia has headed up Irving, Texas-based Chaac Foods and its growing portfolio of QSR and casual dining brands. Chaac Foods (named after the Mayan rain deity) has teamed up with private equity firm Gauge Capital to create a management team with experience, expertise, and a proven track record for success.
What’s next for Ibarguengoytia and Chaac Foods? “I have a 200/200 goal for 2021,” he says. “That’s 200 stores and $200 million.
