M&A: Page 2
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Amex banks on spending at high-end restaurants
Analysts say American Express wants to cash in on the restaurant industry’s success and give customers admission to premium experiences.
By Patrick Cooley • June 27, 2024 -
Amex to buy Tock for $400M
American Express said it will buy the reservation platform from website builder Squarespace to buttress its dining digital services.
By Patrick Cooley • June 24, 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 -
SoundHound AI acquires ordering platform Allset
Allset, a platform designed specifically for pickup orders, will help SoundHound speed up its goal of developing a multi-channel, voice-ordering system.
By Aneurin Canham-Clyne • June 20, 2024 -
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 Julie Littman • May 22, 2024 -
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 Julie Littman • May 10, 2024 -
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 -
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 Julie Littman • April 24, 2024 -
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 Julie Littman • April 19, 2024 -
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 Julie Littman • April 18, 2024 -
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 Julie Littman • April 16, 2024 -
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 -
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 closed 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