REPORT: Whataburger Exploring Options, Including Selling

SAN ANTONIO, TX -- Texas' most popular fast food chain is looking to grow according to a report released on Thursday.

The San Antonio Express-News reports the San Antonio-based chain has hired Wall Street-based financial firm Morgan Stanley to explore possible opportunities for growth. The report says the move is to figure out "how to best fuel (Whataburger's) expansion."

Although the company was scarce on details for the future, the Express-News detailed possible options for Whataburger which range from selling all or part of the company to selling stock as an initial public offer on the stock market.

“Our company is growing and is always attractive to investors, and we’ve brought in Morgan Stanley to help us explore our options,” a Whataburger spokesperson told the Express-News. “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.”

With over 800 total stores from Arizona to Florida and more than 670 in Texas, Whataburger has been a staple in the southern fast food landscape. QSR, a publication known for ranking restaurant chains, had Whataburger at no. 22 on their 2018 top 50 restaurants in America. That's 21 spots higher than rival In-N-Out, who's slowly creeped into Texas over the last few years.

The same publication also ranked Whataburger seventh in total sales in 2017 with over $2.2 billion that year.

Whataburger was founded in Corpus Christi in 1950 by Harmon Dobson and is still owned by the Dobson family.