M&A


  • A photograph of a co-branded Wetzel's Pretzels and Cold Stone Creamery inside a mall.
    Image attribution tooltip
    Permission granted by Wetzel's Pretzels/Cold Stone Creamery
    Image attribution tooltip

    MTY Food Group rebuffs Foodtastic’s $720M bid

    Following a strategic review of its business, Cold Stone’s parent declined a takeover offer from Foodtastic, prompting the latter to to accuse the company of “unrealistic expectations.”

    By • Nov. 4, 2026
  • An image of a Applebee's and IHOP dual-branded restaurant inside an airport
    Image attribution tooltip
    Courtesy of Dallas Love Field
    Image attribution tooltip

    Dine Brands fights acquisition attempt with poison pill

    Pizza Hut. Wendy’s. Now, Applebee’s and IHOP? Buyers want to take chains private to avoid market pressure — but Dine Brands isn’t ready yet. 

    By • Oct. 30, 2026
  • 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 photograph of a red sign with white lettering that says Wendy's. Above the sign is a log of a girl with red hair and freckles.
    Image attribution tooltip
    Bruce Bennett via Getty Images
    Image attribution tooltip

    Wendy’s evaluating $1.4B offer from investor group

    A committee of independent directors is evaluating the proposal, but the chain made no assurances over the unsolicited proposal or any other transaction.

    By • Oct. 29, 2026
  • The Instacart logo is displayed on a computer monitor.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    DoorDash to buy Instacart for $17B

    The deal marks the consolidation of two major players in the grocery e-commerce industry.

    By Catherine Douglas Moran • Updated Oct. 29, 2026
  • The Wendy's logo displayed near a Wendy's restaurant on June 18, 2024 in Austin, Texas.
    Image attribution tooltip
    Brandon Bell / Staff via Getty Images
    Image attribution tooltip

    Wendy’s activist investors propose $1.4B buyout

    Trian Fund, owned by former Wendy’s chair Nelson Peltz, alongside other private equity firms said a sale would help the chain focus on long-term profitability.

    By • Oct. 28, 2026
  • A view of a Wendy's restaurant on May 12, 2021 in Pinole, California.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Meritage to sell 42 Wendy’s restaurants for $18.6M

    The operator plans to divest units across Tennessee, Arkansas, Mississippi and Missouri to Divine Infinity Operations as part of its bankruptcy proceedings.

    By • Oct. 22, 2026
  • A car at a window picking up an order from a restaurant
    Image attribution tooltip
    Permission granted by Salad and Go
    Image attribution tooltip

    Salad and Go is coming back from the dead

    Roughly 100 former Salad and Go locations were approved for sale during bankruptcy, but the buyer of its intellectual property plans to reopen some units.

    By • Oct. 16, 2026
  • A Swig Dirty Soda location with a drive-thru.
    Image attribution tooltip
    Courtesy of Swig
    Image attribution tooltip

    Savory Fund raises over $200M to back emerging restaurant chains

    The private equity firm aided the early growth of Swig and Mo’ Bettahs, and its latest fund will support expanding concepts with strong brand identity.

    By • Oct. 14, 2026
  • It's a restaurant.
    Image attribution tooltip
    wdstock via Getty Images
    Image attribution tooltip

    Gen Restaurant Group sells 47 restaurants for $100M to Chubby Cattle Group

    The deal will strengthen Gen’s balance sheet while speeding up the growth of Chubby’s restaurant operations. 

    By • Oct. 14, 2026
  • A person in a suit stands on stage surrounded by a large crowd in the stands.
    Image attribution tooltip
    Courtesy of Starbucks
    Image attribution tooltip
    Analysis

    Was a Starbucks buyout of Chipotle even possible?

    The coffee giant denied it was buying the burrito chain, but analysts offered an interesting view of what a mega-merger would have meant to the restaurant industry.

    By • Oct. 12, 2026
  • An evening photograph of a True Food Kitchen restaurant.
    Image attribution tooltip
    Courtesy of True Food Kitchen
    Image attribution tooltip

    True Food Kitchen files for Chapter 11 bankruptcy

    The chain plans to sell itself to a long-term partner that shares a similar brand mindset that can set it up for long-term success.

    By • Oct. 6, 2026
  • An image of a bicyclist carrying a green backpack that says Uber Eats
    Image attribution tooltip
    Ceri Breeze via Getty Images
    Image attribution tooltip

    Uber Eats to buy ezCater for $2.3B

    The catering platform will expand Uber Eats' large order business, which has become a significant opportunity in recent quarters.

    By • Oct. 6, 2026
  • A daytime photograph of a small gray and orange building with "Salad and Go" signage.
    Image attribution tooltip
    The image by Salad and Go is licensed under CC BY-SA 4.0
    Image attribution tooltip

    7 Brew’s $123M bid for at least 60 Salad and Go units is approved

    The drive-thru locations will be converted to 7 Brews over time, allowing the chain to accelerate its growth toward 1,000 units.

    By • Updated Sept. 29, 2026
  • A zoomed in image of a smartphone with a on orange app square that says "Grubhub" in white.
    Image attribution tooltip
    Scott Olson via Getty Images
    Image attribution tooltip

    DoorDash buys Grubhub campus unit for $300M

    DoorDash will continue to expand Grubhub’s former campus dining operations, and Wonder will use money from the deal and an investment to sustain growth.

    By • Sept. 15, 2026
  • A daytime photograph of a small gray and orange building with "Salad and Go" signage.
    Image attribution tooltip
    The image by Salad and Go is licensed under CC BY-SA 4.0
    Image attribution tooltip

    7 Brew outbids Dutch Bros in $143M offer for Salad and Go units

    The drive-thru coffee chain proposed to take over half of the bankrupt fast casual’s closed locations. 

    By • Updated Sept. 2, 2026
  • pizza hut
    Image attribution tooltip
    Retrieved from Pizza Hut.
    Image attribution tooltip

    It’s official: Yum has sold Pizza Hut for $1.5B

    Taco Bell’s parent will focus on its other brands, while Pizza Hut can begin a turnaround sheltered from the immediate pressures of public markets.

    By • Sept. 1, 2026
  • A Papa John's sign.
    Image attribution tooltip
    Joe Raedle / Staff via Getty Images
    Image attribution tooltip

    Papa Johns sells 28 Florida units

    The refranchising deal in Orlando is part of the chain’s initiative to reduce the number of company-owned restaurants in North America.

    By • Aug. 26, 2026
  • A photograph of the outside of a Bonchon restaurant.
    Image attribution tooltip
    Permission granted by Bonchon
    Image attribution tooltip

    Bonchon’s American division sold to PE firm

    The deal with Serruya Private Equity could help speed up the brand’s U.S. development and follows a busy period for restaurant M&A.

    By • Aug. 14, 2026
  • A daytime photograph of a small gray and orange building with "Salad and Go" signage.
    Image attribution tooltip
    The image by Salad and Go is licensed under CC BY-SA 4.0
    Image attribution tooltip

    7 Brew vies for piece of Salad and Go portfolio

    7 Brew said it is a competing bidder for the salad chain’s closed stores, and its lawyers are crying foul over Dutch Bros’ exclusive agreement for 64 sites.

    By • Aug. 12, 2026
  • It's a restaurant.
    Image attribution tooltip
    wdstock via Getty Images
    Image attribution tooltip

    Gen Restaurant Group mulls $100M offer for its BBQ chain

    Selling its restaurant business would allow Gen to pivot to CPG, where it can grow with lower development expenditure. 

    By • Aug. 10, 2026
  • A car at a window picking up an order from a restaurant
    Image attribution tooltip
    Permission granted by Salad and Go
    Image attribution tooltip

    Dutch Bros buys 65 former Salad and Go units

    The coffee chain will convert units in Arizona, Nevada, Oklahoma and Texas as part of its strategy to reach 2,029 units in 2029.

    By • Aug. 6, 2026
  • A Gong cha store with the open sign and drink menu displayed on the storefront's windows.
    Image attribution tooltip
    Kelly Stroh/Restaurant Dive
    Image attribution tooltip

    Bain Capital buys Gong cha bubble tea chain

    The private equity firm will assume control of a 2,200-unit global chain, with at least 240 stores in the U.S.  

    By • Updated Aug. 5, 2026
  • A rendering of a KFC next-generation restaurant that includes pink neon lights and black facade.
    Image attribution tooltip
    Permission granted by KFC
    Image attribution tooltip

    Yum bids Pizza Hut farewell, overhauls KFC

    Yum Brands is ushering in a new era for KFC through a global brand transformation, while Pizza Hut is shifting to new ownership.

    By • July 31, 2026
  • An image of a beige building wiht both Fatburger and Round Table Pizza signage
    Image attribution tooltip
    Permission granted by Fat Brands
    Image attribution tooltip

    Judge approves Fat Brands liquidation

    After a complicated bankruptcy process that included a CEO ouster effort, Fat’s liquidation can proceed with court approval.

    By • July 28, 2026
  • A photograph of a rectanguler sign with a Cracker Barrel logo and its Uncle Herschel mascot
    Image attribution tooltip
    marcnorman via Getty Images
    Image attribution tooltip

    Cracker Barrel sells Maple Street Biscuit Company

    The chain will close 16 of its subsidiary biscuit brand locations after selling 35 to Biscuit Belly as part of a move to improve profitability. 

    By • July 21, 2026