M&A

  • An image of a building with Tropical Smoothie Cafe signage
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    Permission granted by Tropical Smoothie Cafe
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    The 10 biggest M&A restaurant deals of 2024

    While transactions slowed this year, there were still some transformative deals, like Blackstone’s $2 billion buyout of Tropical Smoothie Cafe and Darden’s $600 million Chuy’s acquisition.

    By • Dec. 12, 2024
  • An image of six different beers on a table with a menu below describing each brew.
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    The image by James Cridland is licensed under CC BY 2.0
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    SPB Hospitality sells brewery, specialty brands

    The transaction will allow SPB to focus on growing its flagship brands like Krystal, Logan’s Roadhouse and J. Alexander’s.

    By • Dec. 11, 2024
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    Violeta Stoimenova 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 TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    Former TGI Fridays CEO Ray Blanchette offers $30.5M for 9 company restaurants

    The bid for the restaurants shows some potential buyers still have confidence in the brand’s value, despite its recent closures.

    By • Dec. 9, 2024
  • Paytronix
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    Retrieved from Paytronix website.
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    Paytronix upgrades its software weeks after being acquired

    Additions include an AI tool that answers operators’ questions and a group of features meant to help manage and process online orders.

    By Brett Dworski • Nov. 20, 2024
  • An image inside a restaurant crowded with people. The wall says Fresh Brothers."
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    Retrieved from Fresh Brothers on November 18, 2024
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    Craveworthy buys emerging pizza brand

    The multi-brand platform has been on an acquisition spree in 2024, buying Sigri Indian BBQ and Untamed Brands, among others.

    By • Nov. 19, 2024
  • A sign that says "Since 1956 Jersey Miek's Subs"
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    Justin Sullivan via Getty Images
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    Jersey Mike’s sells majority stake to Blackstone

    The transaction, which is expected to close early next year, will allow the sandwich chain to accelerate its growth and invest further in technology.

    By • Nov. 19, 2024
  • A man carrying orange bags with the word Grubhub on the side.
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    Courtesy of Grubhub
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    Wonder to acquire Grubhub for $650M

    Just Eat Takeaway originally purchased Grubhub for $7 billion in 2020 and has been trying to sell the company since 2022.

    By • Updated Nov. 13, 2024
  • A worker takes a bowl of processed avocados from a prototype of Vebu's Autocado.
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    Courtesy of Chipotle
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    Serve Robotics buys Autocado maker Vebu

    The acquisition of the Chipotle-backed equipment developer signals Serve’s interests are growing from the sidewalk to the kitchen.

    By • Nov. 7, 2024
  • An image of a beige brick building with a large sign that says "Buca di Beppo."
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    Clayton Chase via Getty Images
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    Buca di Beppo to be sold to stalking horse bidder for $27M

    Main Street Capital Corporation originally provided the chain a loan of $47 million in 2015 and will buy it out of bankruptcy. 

    By • Nov. 6, 2024
  • A photo of a phone showing a Paytronix app.
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    Courtesy of Paytronix
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    Paytronix acquired by The Access Group

    The deal will expand the offerings available through Paytronix’s platform and help accelerate its growth, executives said.

    By Jessica Loder • Nov. 1, 2024
  • An image of a pink building with a Chuy's sign on the side.
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    The image by Michael Rivera is licensed under CC BY-SA 4.0
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    Darden wraps up Chuy’s acquisition

    The Tex-Mex chain brings strong unit volumes — about $4.5 million — to Darden, but its same-store sales fell last quarter, like many casual dining brands.

    By • Oct. 14, 2024
  • An exterior image of a Pizza Hut with bricks and red signage
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    Courtesy of Yum Brands/Pizza Hut
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    EYM Pizza to sell 127 Pizza Hut units

    The operator, which declared bankruptcy in June, previously closed over a dozen locations in Indiana, which Pizza Hut said it would transfer to new owners.

    By • Sept. 26, 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 acquisition falls through, bondholders seize assets

    Hostmore still wants to sell its restaurants after the U.K. franchisee’s acquisition plan was torpedoed by the casual dining brand's manager termination event.

    By • Sept. 9, 2024
  • An image of various dishes from Modern Market's menu.
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    Permission granted by Modern Market Eatery
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    Thrive Restaurant Group buys Modern Market Eatery

    Thrive previously committed to opening 41 units as Modern Market’s largest franchisee, but felt that buying the brand was a natural next step in its growth.

    By • Sept. 6, 2024
  • An image of a white and red building with Red Lobster signage on the front.
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    Brandon Bell via Getty Images
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    Court approves Red Lobster’s restructuring, buyout plan

    The seafood chain will emerge from bankruptcy with P.F. Chang’s former CEO at the helm and $60 million in new funding.

    By • Sept. 6, 2024
  • A sign hangs on the side of a Sonic restaurant in 2018.
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    Scott Olson / Staff via Getty Images
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    KBP Brands buys 85 Sonic units

    KBP first bought into the Inspire Brands system in 2021, when it purchased a number of Arby’s stores.

    By • Sept. 4, 2024
  • An image of a Playa Bowls with a table and stools. There is a ping pong table in the background and a wall with an anchor that says East Brunswick.
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    The image by SeichanGant is licensed under CC BY-SA 4.0
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    Playa Bowls acquired by Sycamore Partners

    Under previous owner Tamarix, the fruit bowl chain added over 150 locations. It expects to speed up growth under its new owner.

    By • Sept. 4, 2024
  • An image of a black building with a red sign that says "Newk's."
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    Permission granted by Newk's
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    How Newk’s will help FSC Franchise Co. become a billion-dollar platform

    After acquiring Newk’s, the platform owned by Capital Spring aims to add another brand to its portfolio as it tries to double its business.

    By • Aug. 21, 2024
  • Corner Bakery storefront
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    Thai Phi Le/Restaurant Dive
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    Suit alleges Boston Market owner Jay Pandya looted Corner Bakery Cafe

    Corner Bakery’s new owner, SSCP Restaurant Investors, say Pandya bled the brand dry through cash transfers to his management firm. 

    By • Aug. 21, 2024
  • Freebird World Burrito's brisket-based menu items.
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    Courtesy of Freebird World Burrito
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    Sun Holdings buys 64-unit Freebirds World Burrito

    The Texas-based burrito brand is Sun Holdings’ second purchase of a brand, and proof of its ability to grow as a brand owner, CEO Guillermo Perales said.

    By • Aug. 20, 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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    Hostmore, TGI Fridays deal delayed

    Management says not to expect a Q3 2024 closure, after the companies revised their combined business plan to a full-franchised model.

    By • Aug. 9, 2024
  • An image of a building with "Rubio's Coastal Grill" on the outside.
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    Permission granted by Rubio's Coastal Grill
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    Rubio’s accepts $40M sale bid

    TREW Capital Management, which is owned by former BBQ Holdings CEO Jeff Crivello, will buy the brand months after acquiring its secured debt.

    By • Aug. 1, 2024
  • A man in an orange sweatshirt next to a corner of a building that has a circle sign with the words "insomnia cookies."
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    Justin Sullivan via Getty Images
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    Krispy Kreme sells majority stake in Insomnia Cookies for $127M

    The doughnut chain, which bought the cookie company in 2018, will use the proceeds of the sale to focus on its core business, expand availability of its products and pay down debt. 

    By • July 22, 2024
  • An image of a pink building with a Chuy's sign on the side.
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    The image by Michael Rivera is licensed under CC BY-SA 4.0
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    Darden to buy Chuy’s for more than $600M

    The all-cash transaction will add a Tex-Mex chain to Darden’s portfolio of restaurants, which includes Olive Garden and Ruth’s Chris Steak House.

    By • Updated July 17, 2024
  • MOD Pizza
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    Permission granted by MOD Pizza
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    Mod Pizza acquired by Elite Restaurant Group

    The transaction comes several months after the chain closed underperforming locations and will help it avoid bankruptcy, which it was reportedly considering.

    By • July 10, 2024