M&A


  • Four different juices from Clean Juice
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    Permission granted by Clean Juice
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    Brix plots expansion for newly acquired Clean Juice

    The restaurant company plans to improve Clean Juice’s operations, update the menu and add as many as 25 new units by 2025.

    By May 22, 2024
  • An image of Red Loster sign on the outside of a restaurant
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    Justin Sullivan via Getty Images
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    Thai Union to fully divest from Red Lobster by the end of year

    The minority owner is engaging with potential buyers after determining Red Lobster’s financial requirements no longer align with its capital allocation plans.

    By May 10, 2024
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    John Hazard and Lisa Burdige
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    How McDonald’s and Burger King diverge on value-driven messaging

    Price-conscious consumers are forcing the QSR giants down different paths around how to advertise value and invest in their marketing.

    By Chris Kelly • May 1, 2024
  • A picture of a beige building with Tropical Smoothie Cafe branding
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    Permission granted by Tropical Smoothie Cafe
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    Tropical Smoothie Cafe sells to Blackstone

    Terms of the transaction were not disclosed, but The Wall Street Journal reports it is worth roughly $2 billion.

    By Updated April 24, 2024
  • An image of Tijuana Flats
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    Permission granted by Tijuana Flats
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    Tijuana Flats files for Chapter 11, gains new owners

    The fast casual chain also closed 11 restaurants after undergoing a unit-by-unit analysis of financial performance, occupancy costs and market conditions. 

    By April 19, 2024
  • An image of TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    4 things to know about TGI Fridays’ acquisition by Hostmore

    The chain’s biggest franchisee has been reducing expenses since 2022, which should help the combined company start on stronger financial footing in the U.K.’s public market.

    By April 18, 2024
  • An image of TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    TGI Fridays enters $220M agreement to combine with UK franchisee

    The deal with Hostmore, worth over $220 million, will lead to TGI Fridays trading on the London Stock Exchange under “TGIF” symbol. 

    By April 16, 2024
  • An image of Jersey Mike's sandwiches cut in half
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    Courtesy of Jersey Mike's
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    Jersey Mike’s reportedly considering a sale

    The sandwich chain could reap a sale worth $8 billion, but talks with Blackstone, a potential suitor, have cooled, reports The Wall Street Journal. 

    By April 5, 2024
  • Wendy's
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    Thai Phi Le/Restaurant Dive
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    Delight Restaurant Group acquires 65 Wendy’s restaurants

    The operator, which previously bought about 100 Wendy’s units in 2021, said it would continue to grow with new development and acquisitions. 

    By April 2, 2024
  • An image of Voicebox Karaoke, Sweet Tooth Hotel
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    Permission granted by Punch Bowl Social
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    Punch Bowl Social acquires 2 eatertainment concepts

    The company is buying Sweet Tooth Hotel and Voicebox Karaoke to diversify its portfolio of concepts and appeal to a wider range of consumers.

    By April 1, 2024
  • An image of Bob Evans Restaurant with cars parked out front
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    Bob Evans rumored to be up for sale

    The chain, which is owned by Golden Gate Capital, had over $800 million in systemwide sales in 2022 and reportedly mulled a sale that year, too. 

    By March 29, 2024
  • The exterior of a Benihana
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    Permission granted by Benihana/The One Group Hospitality
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    One Group Hospitality buys Benihana parent for $365M

    The transaction will add $514 million in trailing 12-month revenue for the group, which also owns STK and Kona Grill. 

    By Updated March 26, 2024
  • Sam Nazarian, C3 founder and CEO
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    Permission granted by C3
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    Sam Nazarian buys Kitchen United IP, forms new virtual brand platform

    Nazarian will combine these unspecified components with Nextbite and C3 to support the new concept, Everybody Eats, which has goals that echo the growth plans of failed ghost kitchen pioneers.

    By March 14, 2024
  • Inspire Brands Alliance Kitchen
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    Permission granted by Inspire Brands
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    Inspire Brands buys delivery tech firm Vromo

    The parent company of Dunkin’ and Buffalo Wild Wings bought the firm for an undisclosed sum, marking its first deal since its $11.3 billion Dunkin’ buy. 

    By Feb. 13, 2024
  • An image of a Taco Bell store.
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    Courtesy of Taco Bell
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    Flynn Group reportedly seeking $5B majority stake sale

    The country’s largest franchisee has about $4.5 billion in annual sales and grew much of its portfolio in recent years through various acquisitions. 

    By Feb. 12, 2024
  • An image of the interior of a Dirty Dough location.
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    Courtesy of Craveworthy Brands
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    Craveworthy Brands buys major stake in Dirty Dough Cookies

    This deal marks Craveworthy’s first investment in a snack brand, and reflects growing restaurant interest in concepts and menus that target diner spending between traditional dayparts. 

    By Jan. 24, 2024
  • A black sign that says Red Lobster that is outside of a building that also says Red Lobster
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    Justin Sullivan via Getty Images
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    Thai Union Group looks to sell stake in Red Lobster

    The seafood group, which been a minority stakeholder in Red Lobster since 2016, said it decided to divest after ongoing financial troubles at the chain.

    By Jan. 17, 2024
  • A picture of Burger King signs.
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    Justin Sullivan via Getty Images
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    RBI to acquire Carrols Restaurant Group for $1B

    The transaction, which is expected to close in Q2, will accelerate the pace of the franchisee’s Burger King remodels from 45 to 120 annually.

    By Jan. 16, 2024
  • An image that says Chowly has acquired Targetable
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    Courtesy of Chowly
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    Chowly buys digital marketing platform Targetable

    The addition of the marketing technology will allow Chowly to help its restaurant clients boost their online ordering traffic.  

    By Jan. 4, 2024
  • A picture of a beige building with Tropical Smoothie Cafe branding
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    Permission granted by Tropical Smoothie Cafe
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    Tropical Smoothie Cafe reportedly seeking $2B sale

    This marks the second possible restaurant acquisition in progress this month, with Reuters reporting that Chuck E. Cheese’s parent company is seeking a $1 billion sale.

    By Dec. 21, 2023
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    Justin Sullivan via Getty Images
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    Chuck E. Cheese’s parent company reportedly seeking sale

    CEC Entertainment is preparing for an auction with a target valuation of $1 billion, per Reuters.

    By Dec. 19, 2023
  • An image of a Subway restaurant in Texas
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    Courtesy of Subway
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    The 5 biggest restaurant M&A deals of 2023

    M&A has been slow since the end of 2022, but a handful of large deals were struck, including Darden’s buyout of Ruth’s Hospitality and Subway’s proposed sale to Roark.

    By Dec. 15, 2023
  • An image of a refreshed Subway.
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    Courtesy of Subway
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    FTC reportedly investigating Roark’s Subway purchase

    The agency began an investigation this month, Politico reports. The FTC is concerned the deal could create a monopoly in the sandwich segment, as Roark Capital also owns Arby’s, Jimmy John’s and related chains. 

    By Nov. 22, 2023
  • Melissa Jernigan, Founder and CEO of Piece of Cake with Scott Deviney, President and CEO of Chicken Salad Chick
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    Courtesy of Chicken Salad Chick
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    Chicken Salad Chick buys Piece of Cake to expand dessert menu

    The acquisition of the Georgia-based cake chain will likely help Chicken Salad Chick compete with the broader menus of fast casual rivals.

    By Nov. 2, 2023
  • A picture of ribs on a cutting board
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    Permission granted by Smokey Bones
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    Fat Brands buys Smokey Bones for $30M

    Smokey Bones is Fat Brands’ first barbecue chain and could benefit from Fat’s aggressive franchising strategy.

    By Sept. 26, 2023