M&A: Page 3

  • 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
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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
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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
  • 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
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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
  • An image of a white building with red stripes and KFC branding.
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    Moses Robinson via Getty Images
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    Yum completes exit of Russia with sale of KFC units

    The sale to local operator Smart Service includes all 1,112 Russian KFC units and the trademark for the Rostik’s brand, which KFC bought in 2011. 

    By • April 18, 2023
  • A picture of the leadership of Port of Subs.
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    Courtesy of Port of Subs
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    Port of Subs acquired by private equity firm

    Area 15 Ventures looks to grow franchise sales in its portfolio, which includes Daddy’s Chicken Shack alongside Port of Subs, by 140% in 18 months.

    By • April 4, 2023
  • An image of menu items from I Love Juice Bar
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    Retrieved from I Love Juice Bar on March 28, 2023
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    Main Squeeze Juice Co. acquires I Love Juice Bar

    The deal will almost double Main Squeeze’s unit count of 28 stores and give it a strong presence in Texas and Tennessee. 

    By • March 28, 2023
  • A photograph of menu items from Firebirds Wood Fired Grill
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    Courtesy of Firebirds Wood Fired Grill
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    Firebirds Wood Fired Grill acquired by private equity firm

    Garnett Station Partners bought the polished-casual chain, which has 56 locations in 20 states, with plans to help it accelerate growth. 

    By • March 27, 2023
  • drive thru painted on street for directions
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    booker5m via Getty Images
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    Toast buys Delphi Display Systems adding to QSR product suite

    Delphi offers digital display and drive-thru technology designed for QSRs and comes a year after Toast bought Sling to enhance employee scheduling. 

    By • Feb. 16, 2023
  • Online business payments
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    Sitthiphong via Getty Images
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    How Chowly’s Koala buy will broaden online ordering access for SMBs

    With Koala’s enterprise-level digital ordering capabilities, Chowly will be able to offer a user-facing tool for its small and mid-size restaurant clients. 

    By • Feb. 2, 2023
  • A person navigates Chowly's app on their cell phone
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    Permission granted by Chowly
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    Chowly makes first acquisition with Koala buy

    The purchase adds machine learning capabilities to Chowly’s platform, allowing it to give recommendations to restaurants to increase digital basket sizes.

    By • Feb. 1, 2023
  • Subway's reimagined interiors put in place in 2021 as part of its Eat Fresh Refresh.
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    Permission granted by Subway
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    Subway reportedly mulling $10B sale

    This price tag would near Inspire’s mammoth $11.4 billion purchase of Dunkin’ in 2020, but it may be difficult to find a restaurant or private equity buyer in uncertain economic times. 

    By • Updated Jan. 12, 2023
  • An image of a building with Fuzzy's Taco Shop logo.
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    Courtesy of Dine Brands
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    The 10 biggest restaurant deals of 2022

    Expensive capital and inflationary pressure slowed M&A last year, with both private equity firms and restaurant groups pausing their acquisition goals. 

    By • Jan. 3, 2023
  • Main Event Entertainment location
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    Permission granted by Main Event
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    Distressed deals, QSR buys may drive 2023 restaurant M&A

    Buyers are attracted to models with strong off-premise sales that require lower building expenses and fewer employees, experts said.

    By • Jan. 3, 2023