M&A: Page 2

  • 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
  • Shot of three business persons filling in paperwork in an office. Explore the Trendline➔
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    VioletaStoimenova via Getty Images
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    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
  • 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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    The image by Michael Rivera is licensed under CC BY-SA 4.0
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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
  • An image of a refreshed Subway.
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    Courtesy of Subway
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    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 • Aug. 31, 2023
  • An image of a refreshed Subway.
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    Courtesy of Subway
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    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 • Aug. 24, 2023
  • Fogo de Chão in Reston, Virgnia
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    Courtesy of Fogo de Chão
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    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 • Updated Aug. 15, 2023
  • An image of a sky blue Pollo Tropical restaurant
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    Courtesy of Fiesta Restaurant Group
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    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 • Aug. 7, 2023
  • Ruth's Chris Steak House glass storefront
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    Thai Phi Le/Restaurant Dive
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    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 • July 5, 2023
  • An image of Pinstripes
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    Courtesy of Pinstripes
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    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 • June 23, 2023
  • A photograph of chicken sliders from IHOP's virtual brand TenderFix
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    Permission granted by Nextbite
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    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 • Updated June 14, 2023