M&A
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How Tropical Smoothie's new owner will accelerate growth
Levine Leichtman Capital Partners talks about what drew the firm to the smoothie chain, which has a pipeline of over 500 units, and how its financial resources will support nationwide expansion.
By Julie Littman • Sept. 09, 2020 -
Golden Gate Capital sells remaining stake in Red Lobster
The sale could help the chain recoup some capital as it looks to improve its balance sheet and pay a looming $180 million loan that is due July 2021.
By Julie Littman • Aug. 31, 2020 -
Courtesy of Seated
Seated acquires events booking platform VenueBook
The reservation app, which also raised $30 million in funding, estimates that private events generate 10% to 15% of a restaurant's revenue and up to 20% of its profit.
By Alicia Kelso • Aug. 19, 2020 -
Johnny Rockets will grow via ghost kitchens, Fat Brands CEO says
Andy Wiederhorn said that Johnny Rockets gives franchisees diversified burger options and the chance to scale a new brand through virtual kitchens out of other Fat Brands restaurants.
By Emma Liem Beckett • Aug. 18, 2020 -
Uber buys Postmates in $2.65B deal
Uber Eats gains the fourth largest food delivery company in the U.S. just weeks after its failed merger with Grubhub. The deal gives Uber Eats the largest market share in Los Angeles and builds on its lead in Miami.
By Julie Littman , Emma Liem Beckett • July 06, 2020 -
Uber reportedly bids $2.6B for Postmates
Postmates is also considering going public either through an IPO or a special purpose acquisition company.
By Julie Littman • June 30, 2020 -
WSJ: Chuck E. Cheese parent fielding potential buyers
New York grocery owner John Catsimatidis and a group of bondholders are among the eatertainment chain's latest suitors.
By Julie Littman • June 22, 2020 -
Just Eat Takeaway acquires Grubhub in all-stock deal
Grubhub shares jumped more than 7% during after hours trading on news of the deal, which will also give Amsterdam-based Just Eat Takeaway a strong foothold in the U.S.
By Julie Littman • June 10, 2020 -
BurgerFi to go public in $100M deal with blank-check investor
The burger chain entered into a definitive agreement with Opes Acquisition Corp. to combine on Tuesday. Its anticipated initial enterprise value is $143 million.
By Julie Littman • UPDATED: June 30, 2020 at 10:16 a.m. -
Courtesy of Just Eat Takeaway
Grubhub reportedly gains two new suitors: Just Eat Takeaway, Delivery Hero
The two European food delivery companies have emerged as potential buyers of Grubhub, following growing antitrust concerns if the U.S. aggregator combined with Uber.
By Julie Littman • June 08, 2020 -
Luby's seeks sale of all assets to clear debt
The operator is open to being acquired in its entirety but would sell its holdings, including Luby's, Fuddruckers and a contract management company called Culinary Contract Services, separately if needed.
By Emma Liem Beckett • June 04, 2020 -
Le Pain Quotidien's US arm files for bankruptcy, sold for $3M
The cafe chain, which already temporarily closed its 98 units and fired 2,000 employees due to COVID-19, said it would have faced liquidation if not for the sale to Aurify Brands.
By Julie Littman • May 27, 2020 -
Potential Uber/Grubhub merger points to inevitable consolidation in delivery market
While acquisitions have been speculated for 18 months, the latest rumors signal a shift in the segment — one that might lead to steeper fees and reduced visibility for restaurants.
By Julie Littman , Emma Liem Beckett • May 18, 2020 -
Cculber007. (2005). "Krystal" [Photograph]. Retrieved from Wikimedia Commons.
Bankrupt Krystal sold to Fortess Investment Group for $48M
With healthy M&A all but paused during the pandemic, distressed company sales are likely to be among the handful of deals to occur this year.
By Julie Littman • May 15, 2020 -
Uber bids to acquire Grubhub, reports say
While Grubhub wouldn't comment specifically on a Bloomberg report, it released a statement that said "consolidation could make sense in our industry, and like any responsible company, we are always looking at value-enhancing opportunities."
By Julie Littman • UPDATED: May 12, 2020 at 2:31 p.m. -
Sun Capital Partners sells Boston Market
Engage Brands, one of Rohan Group of Companies, becomes the private owner of the long-troubled brand, which has grappled with store closures and stagnant sales for years.
By Julie Littman • April 29, 2020 -
Dine Brands investor wants to spin off IHOP
Dine Brands' board of directors says that forcing the company into creating a separately traded entity would not be in the best interests of its shareholders.
By Julie Littman • April 03, 2020 -
Yum acquires leadership development program
The parent company of Pizza Hut and Taco Bell plans to offer Heartstyles, which provides hands-on training, to 98% of its restaurants.
By Julie Littman • March 04, 2020 -
Julie Littman/Restaurant Dive
BBQ Holdings lands 1st acquisition with Granite City Food
This deal is unlikely to be the last for Famous Dave's parent company as it pushes to become a multi-branded concept, mirroring recent moves by Inspire Brands, FAT Brands and Cracker Barrel.
By Julie Littman • Feb. 14, 2020 -
Bloomin' Brands closer to divesting Outback Brazil
The company has selected three bidders for its Outback operation in Brazil.
By Alicia Kelso • Feb. 04, 2020 -
DoorDash
Uber Eats, DoorDash reportedly considered merger in 2019
The two largest delivery providers in the U.S. discussed combining operations around six months ago, following pressure from mutual investor SoftBank, but talks fell apart, according to the Financial Times.
By Julie Littman • Jan. 31, 2020 -
British regulators investigate Just Eat, Takeaway.com merger
The British Competition and Markets Authority is determining whether the $8 billion deal could stifle competition in the U.K. market.
By Lauren Stine • Jan. 27, 2020 -
Chopt
Chopt buys Dos Toros, forms new holding company
The brands will operate independently under newly formed Founders Table Restaurant Group, and will launch a shared loyalty program.
By Emma Liem Beckett • Jan. 24, 2020 -
Uber sells India food delivery business to local competitor
The company sold Uber Eats India to Zomato as part of its strategy to leave regions where management doesn't think it can be a top player in the space.
By Julie Littman • Jan. 21, 2020 -
Macaroni Grill eyes 2nd acquisition
The once-struggling company hopes to close on another purchase in Q1, one that could bring it halfway to its goal of becoming a $1 billion business, said CEO Nishant Machado.
By Julie Littman • Jan. 15, 2020
