Whataburger hires Morgan Stanley to explore possible sale

Orange-and-white beacon and Texas chain Whataburger has hired financial services company Morgan Stanley to explore expansion and a possible sale, the San Antonio Business Journal reports.   

The possibility of a sale was first reported by Reuters earlier this month. According to the news organization, the chain, which boasts more than 800 locations nationwide, could be valued at more than $6 billion. 

“Our company is growing and is always attractive to investors, we constantly get inquiries,” Whataburger said in a statement issued to Reuters. “We have always evaluated the opportunities that can accelerate growth and maintain the success of our brand, and we will continue to do so in the future.”

Whataburger was ranked as the seventh largest burger chain in the country by QSR in 2017.