M&A

  • 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
  • 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 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
  • American Express promotional signage
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    Bryan Bedder / Stringer via Getty Images
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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
  • Person using a point of sale software system at a restaurant
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    Moyo Studio via Getty Images
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    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
  • Voice recognition with smart phone
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    metamorworks via Getty Images
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    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 • June 20, 2024
  • 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
  • An image of a building with Tropical Smoothie Cafe signage
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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