Wingstop UK has generated more than 2,500 jobs and has become the fastest expanding restaurant brand in the UK. Credit: Sixth Street.

US private equity company Sixth Street has agreed to acquire a majority stake in Lemon Pepper Holdings, the master franchisee for Wingstop in the UK and Ireland.

The transaction is valued at more than £400m ($503m), Bloomberg reported citing sources familiar with the matter.

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Founded in 2018, Wingstop UK has established itself through collaborations, partnerships, and events, fostering a connection with the British demographic.

The brand is known for offering cooked-to-order products with its “signature” flavours.

Wingstop UK CEO Chris Sherriff said: “This is a major step in our journey as we build the pre-eminent fast-casual restaurant brand in the UK and Ireland. 2025 is shaping up to be another landmark year and our focus remains on growing sustainably with the agility to seize the right opportunities as they arise.

“The partnership with Sixth Street represents an excellent strategic and cultural fit for Wingstop UK. Together we are excited by the expansion opportunities ahead while retaining our unwavering focus on youth culture and the communities we serve.”

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By the close of this year, Wingstop UK is set to operate 57 sites across the country and has set a target of expanding to 200 locations within the next five years.

The company’s revenue by year’s end is projected to surpass £150m ($188m.)

Sixth Street Consumer co-head Kayvan Heravi said: “We are incredibly excited to partner with Chris, Paddy and the rest of the team to continue to grow the Wingstop brand in the UK and Ireland and to deepen our partnership with Wingstop Inc. globally.

“We believe that the opportunity for the brand globally, and in the UK and Ireland specifically, is only just beginning.”

In May, real estate developer Sovereign Centros, a division of CBRE, announced the opening of a new Wingstop UK outlet at Merry Hill shopping centre in Brierley Hill, West Midlands.