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Free Fenix Co-Founders Become A Part Of First Few Black Men With Board Seats At Duck Donuts Franchise

These Black men in business are going the extra mile to create opportunities for their community, all while creating a seat at the table for themselves. André Walters and Derrick Brown — co-founders of Charlotte-based hybrid investment firm Free Fenix — have announced their latest move in the franchise space. The two are partnering with investment firm New Spring Capital to close a deal that makes them part-owners of Duck Donuts — a Mechanicsburg, PA -based chain of donut franchises. As part-owners of the franchise, Walters and Brown also hold board seats at the company, which makes them the one of the first Black men to hold such positions at Duck Donuts. “We believe the world is just getting to know Duck Donuts and when they do, they will notice what we noticed,” they tell AfroTech. “It took many long hours, conversations, compromises and perseverance to get this deal done, but in the end we accomplished the objective we established over a year ago and we think this is a win for...

Njera Perkins

May 6, 2021