M&A
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Justin Sullivan via Getty Images
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 Julie Littman • July 22, 2024 -
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 Julie Littman • Updated July 17, 2024 -
Permission granted by MOD Pizza
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 Julie Littman • July 10, 2024 -
Bryan Bedder / Stringer via Getty Images
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 -
Moyo Studio via Getty Images
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 -
metamorworks via Getty Images
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 Aneurin Canham-Clyne • June 20, 2024 -
Permission granted by Clean Juice
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 Julie Littman • May 22, 2024 -
Justin Sullivan via Getty Images
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 Julie Littman • May 10, 2024 -
John Hazard and Lisa Burdige
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 -
Permission granted by Tropical Smoothie Cafe
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 Julie Littman • Updated April 24, 2024 -
Permission granted by Tijuana Flats
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 Julie Littman • April 19, 2024 -
Bruce Bennett via Getty Images
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 Julie Littman • April 18, 2024 -
Bruce Bennett via Getty Images
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 Julie Littman • April 16, 2024 -
Courtesy of Jersey Mike's
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 Julie Littman • April 5, 2024 -
Thai Phi Le/Restaurant Dive
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 Julie Littman • April 2, 2024 -
Permission granted by Punch Bowl Social
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 Julie Littman • April 1, 2024 -
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 Julie Littman • March 29, 2024 -
Permission granted by Benihana/The One Group Hospitality
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 Julie Littman • Updated March 26, 2024 -
Permission granted by C3
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 Aneurin Canham-Clyne • March 14, 2024 -
Permission granted by Inspire Brands
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 Emma Liem Beckett • Feb. 13, 2024 -
Courtesy of Taco Bell
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 Julie Littman • Feb. 12, 2024 -
Courtesy of Craveworthy Brands
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 Emma Liem Beckett • Jan. 24, 2024 -
Justin Sullivan via Getty Images
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 Julie Littman • Jan. 17, 2024 -
Justin Sullivan via Getty Images
RBI to acquire Carrols Restaurant Group for $1B
The transaction, which is expected to close in Q2, will accelerate the pace of the franchisee’s Burger King remodels from 45 to 120 annually.
By Julie Littman • Jan. 16, 2024 -
Courtesy of Chowly
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 Julie Littman • Jan. 4, 2024
