M&A: Page 3

  • 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
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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
  • 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 closed 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
  • An image of a woman making an online order for a restaurant.
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    Weedezign via Getty Images
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    Nextbite sells Ordermark US business to Indian software firm UrbanPiper

    The transaction comes just a few weeks after Nextbite laid off an undisclosed number of employees, with some workers reporting the company would restructure. 

    By • June 10, 2023
  • An image of a Taco Bell restaurant.
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    Ethan Miller via Getty Images
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    Southpaw acquires 40 Taco bell units in Atlanta

    The franchisee, which operates 180 restaurants, said this transaction will add geographic diversity and grow its Taco Bell network.

    By • June 9, 2023
  • Corner Bakery storefront
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    Thai Phi Le/Restaurant Dive
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    Corner Bakery accepts $15M bid from SSCP Restaurant Investors

    SSCP, which bought the company’s debt earlier this year, outbid stalking horse bidder Wexford Capital during an auction held last week. 

    By • June 5, 2023
  • Employees of the online review site Yelp watch as former New York City Mayor Michael Bloomberg speaks at the East Coast headquarters of the tech company on October 26, 2011 in New York City.
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    Spencer Platt via Getty Images
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    Activist investor may pressure Yelp to sell, reports say

    TCS Capital Management wants Yelp to explore strategic alternatives, such as selling itself, as a way to boost shareholder value, per The Wall Street Journal. 

    By • May 23, 2023
  • Corner Bakery storefront
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    Thai Phi Le/Restaurant Dive
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    Private investor seeks $12M buyout of bankrupt Corner Bakery

    The stalking horse bidder, an affiliate of Wexford Capital, has proposed to buy the company during an auction expected to occur next week. 

    By • May 23, 2023
  • A picture of someone scanning a QR code at a restaurant.
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    Retrieved from ChatFood on May 10, 2023
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    Deliverect acquires ChatFood, offers dine-in ordering

    Deliverect will roll out new products in the coming months so restaurants can offer ordering via social media and QR codes for dine-in guests.

    By • May 10, 2023
  • Ruth's Chris Steak House glass storefront
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    Thai Phi Le/Restaurant Dive
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    Darden to buy Ruth’s Hospitality Group for $715M

    This deal is likely the largest restaurant acquisition in the U.S. so far this year, as other transactions have involved small chains or companies that didn’t disclose financial terms. 

    By • May 3, 2023
  • An image of a white and red restaurant with Krystal on the signage
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    Permission granted by Krystal
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    SPB Hospitality completes merger with Krystal Restaurants

    The QSR, which will continue to operate independently, will join SPB’s portfolio that includes J. Alexander’s and Logan’s Road House. 

    By • April 27, 2023