M&A: Page 2

  • 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
  • Shot of three business persons filling in paperwork in an office. Explore the Trendline➔
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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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    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 • 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
  • 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
  • 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