Golden chain chain store chain chain Golden Eagle Inc. has a $1.5 million coupon deal for its chicken wings and is also getting a cut of the $2.3 million dollar sales that were already made at stores in California, Texas, New York, Ohio, Georgia and Indiana, the company said Thursday.
Golden Eagle, the third-largest chicken chain in the United States, is the biggest chain of restaurants and fast-food restaurants in the world and has more than 6,300 restaurants in 41 states and Washington, D.C. The coupons were announced on Thursday, a day after the chain’s first quarterly earnings.
The chain had already announced a $5 million bonus for 2016, but the bonus is only expected to cover about 5% of the value of the sale.
In a blog post, the chain said it has a 10-year lease on a site on the campus of Indiana University that will be sold to another company in 2023.
Golden chain’s chief executive said the deal includes a “significant cash and stock appreciation” and that the company’s earnings will be a key factor in the decision.
“It’s really the bottom line,” said Scott B. Haggerty, Golden Eagle’s CEO.
“This is really the most meaningful investment I’ve ever made.”
Golden chain stores will benefit from the sales, which include the sale of about 4,000 wings to another chain that is building a new restaurant in the Indiana city of Indianapolis.
That company, Chick-fil-A, has been shopping the wings at Golden Eagle stores, which Haggerity said will be profitable.
The company’s chicken wings have been a staple at the chain for years and are a popular item among consumers who buy chicken wings at restaurants and other stores.
But the company is not yet sure how much profit it will make from the deal.
Golden eagle, which has been around since 1896, is owned by Haggery’s son, Scott, who took over the chain in 2016.
Scott Hagger, the chairman and CEO of Golden Eagle has had a tumultuous year.
He was suspended by the company last month for three months after the company disclosed he had used company stock to fund personal expenses and other expenses.
Haganty was not available for comment Thursday.
He resigned on April 23.
He has also been embroiled in an ongoing legal dispute with his son.
On April 27, Hagancy resigned after a judge ruled that his son was not a person in good standing with the company and that his resignation violated the company policy against making political contributions.
Haggys son was also fired from his job as a manager at a New York City restaurant chain after a New Jersey grand jury indicted him on charges that he and his son, Robert, had used business influence to get employees to sign nondisclosure agreements.
Robert Haganys lawyer, Richard Schlosser, said Thursday that the charges against Robert Haggies son, who is a New Hampshire resident, are politically motivated.
“He is a person who is making a mockery of this entire investigation,” Schlossers attorney, Andrew Stowe, said in a statement.
“His family has a lot of assets, including property, and these charges are a political witch hunt against him.”
Hagan, who started Golden Eagle in 1996, also has faced allegations of financial impropriety and tax evasion, and has been under scrutiny in recent months for the company he oversees.
A lawsuit filed in 2017 alleged that Hagan’s company was mismanaging its finances, misusing its brand and paying itself bonuses to employees without the company having a full accounting of its revenues.