M&A: Page 2
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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 Julie Littman • April 5, 2024 -
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 Julie Littman • April 2, 2024 -
Trendline
Restaurant Financing
With ongoing macroeconomic pressures facing restaurants, operators are entering into alternative financing, mergers and acquisitions and even bankruptcy to sustain their businesses.
By Restaurant Dive staff -
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 Julie Littman • April 1, 2024 -
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 Julie Littman • March 29, 2024 -
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 Julie Littman • Updated March 26, 2024 -
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 Aneurin Canham-Clyne • March 14, 2024 -
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 Emma Liem Beckett • Feb. 13, 2024 -
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 Julie Littman • Feb. 12, 2024 -
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 Emma Liem Beckett • Jan. 24, 2024 -
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 Julie Littman • Jan. 17, 2024 -
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 Julie Littman • Jan. 16, 2024 -
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 Julie Littman • Jan. 4, 2024 -
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 Julie Littman • Dec. 21, 2023 -
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 Julie Littman • Dec. 19, 2023 -
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 Julie Littman • Dec. 15, 2023 -
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 Julie Littman • Nov. 22, 2023 -
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 Aneurin Canham-Clyne • Nov. 2, 2023 -
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 Julie Littman • Sept. 26, 2023 -
What Roark deal means for Subway franchisees
Under its new owner, the sandwich chain could see more rapid expansion, but operators may still be challenged by low store-level profitability.
By Julie Littman • Aug. 31, 2023 -
Subway to be acquired by Roark Capital
After a monthslong sales process, Roark emerged as the winning bidder with a reported purchase price over $9 billion.
By Julie Littman • Aug. 24, 2023 -
Fogo de Chão to be acquired by Bain Capital
Rhône Capital is selling the full-service chain after it bought it in 2018 for $560 million. Under new ownership, Fogo de Chão plans to aggressively expand.
By Julie Littman • Updated Aug. 15, 2023 -
Fiesta Restaurant Group will sell to Authentic Restaurant Brands
Fiesta will go private as part of the roughly $220 million deal, and its leadership team will continue to operate fast casual chain Pollo Tropical as an independent brand.
By Emma Liem Beckett • Aug. 7, 2023 -
Top restaurant M&A deals of H1 2023
From industry consolidation to Subway looking to sell itself, the first half of the year saw healthy transaction activity across multiple restaurant segments.
By Julie Littman • July 5, 2023 -
Pinstripes partners with SPAC to go public
The 13-unit eatertainment concept could go public in a deal with Banyan Acquisition Corp., with the combined companies worth $520 million.
By Julie Littman • June 23, 2023 -
C3 founder Sam Nazarian buys Nextbite
Nextbite’s delivery-only brands, and its partnerships with restaurants like IHOP and Nathan’s Famous, will continue under SBE Hospitality’s umbrella.
By Julie Littman • Updated June 14, 2023