M&A

  • A man in an orange sweatshirt next to a corner of a building that has a circle sign with the words "insomnia cookies."
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    Justin Sullivan via Getty Images
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    Krispy Kreme sells remaining stake in Insomnia Cookies Holdings for $75M

    The doughnut chain will use the cash net proceeds to pay down debt following the transaction.

    By • Updated June 11, 2025
  • A photogrpah of a beige building with an orange sign that says Hooters.
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    Joe Raedle via Getty Images
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    Hooters of America closes dozens more restaurants

    The closures, which occurred a few months after the chain filed for bankruptcy, won’t impact the sale of 100 company restaurants to two existing franchisees. 

    By • June 5, 2025
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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 Dave's Hot Chicken fast casual restaurant in Chicago viewed from above.
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    Courtesy of Dave's Hot Chicken
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    Dave’s Hot Chicken sells majority stake to Roark

    The long-rumored deal will help the chain hit its ambitious unit growth targets as it looks to become the leading fast casual chicken brand.

    By • June 2, 2025
  • An image of a restaurant with a logo that says "on the border mexican grill & cantina."
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    The image by Dwight Burdette is licensed under CC BY 3.0
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    Pappas Restaurants to buy On The Border out of bankruptcy

    Pappas Restaurants, which previously provided $10 million in debtor-in-posession financing through an affiliate, plans to improve On The Border’s menu operations and guest experience.

    By • May 8, 2025
  • A man in Deliveroo livery loads a Joe and the Juice bag into a delivery bag.
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    Courtesy of Deliveroo
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    DoorDash to acquire Deliveroo for $3.9B

    Four years after entering Europe through its $8 billion Wolt acquisition, DoorDash will add nine additional countries to its footprint with this deal.

    By • May 6, 2025
  • Front-of-end restaurant staff uses SevenRooms' customer relationship management software.
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    Courtesy of SevenRooms
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    DoorDash to buy SevenRooms for $1.2B

    The deal comes on the heels of DoorDash’s $3.9 billion Deliveroo acquisition and will add tools like reservations, waitlist and table management to its merchant products. 

    By • May 6, 2025
  • A man in Deliveroo livery loads a Joe and the Juice bag into a delivery bag.
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    Courtesy of Deliveroo
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    DoorDash offers $3.6B for Deliveroo

    Deliveroo indicated in filings it was inclined to accept the deal, which would bring DoorDash into major markets including the U.K., France and Italy.

    By • April 28, 2025
  • Jack in the Box restaurant location
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    Justin Sullivan via Getty Images
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    Jack in the Box will shutter up to 200 stores, mulls Del Taco sale

    The brand will also scale back its company-owned development starting next year and sell off real estate to pay down debt.

    By • April 24, 2025
  • El Pollo Loco's first LA Mex restaurants, which emphasize off-premise, opened in 2021.
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    Courtesy of El Pollo Loco
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    El Pollo Loco faces acquisition bid by Sardar Biglari

    The activist investor has already bought up almost 15% of the chicken chain and is now making a play for the whole company.

    By • April 8, 2025
  • An image of a light blue building with a sign that says "The original Hooters"
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    Courtesy of Hooters Inc.
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    Hooters of America sells itself, files Chapter 11

    The chain will sell over 100 company-owned locations to two major franchisees, which will also take over franchise support and corporate functions.

    By • April 1, 2025
  • An exterior image of a Pizza Hut with bricks and red signage
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    Courtesy of Yum Brands/Pizza Hut
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    Flynn Group surpasses 1K Pizza Hut units with latest acquisition

    The franchisee bought 45 Pizza Huts in Alabama, Georgia and Tennessee and operates almost 20% of the franchisor’s U.S. business.

    By • March 12, 2025
  • An image of a building with glass front and orange logo that says Big Chicken
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    Courtesy of Craveworthy Brands
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    Craveworthy Brands becomes managing partner in Shaquille O’Neal’s Big Chicken

    The partnership will further the chicken chain’s aggressive growth strategy, which has 40 units open and a pipeline of 350 restaurants.

    By • March 4, 2025
  • The side view of a Pizza Hut restaurant can be seen, with promotional posters and banners on the windows and walls.
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    Brandon Bell via Getty Images
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    Pizza Hut buys 18 stores from bankrupt EYM

    The chain paid $720,000 for the units, with five other bidders securing the remaining 77 stores in an auction.

    By • Feb. 3, 2025
  • An evening photo of Uncle Julio's restaurant with dim lighting
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    Courtesy of Uncle Julio's
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    Sun Holdings acquires Uncle Julio’s

    The multi-brand franchisee is building up its Mexican cuisine portfolio and already owns Taco Bueno and Freebirds World Burritos.

    By • Jan. 28, 2025
  • An image of a brick building with a red and white striped sign that says "Rita's Ice, Custard, Happiness"
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    The image by Ser Amantio di Nicolao is licensed under CC BY-SA 4.0
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    Private equity firm buys majority stake in Rita’s Italian Ice

    The investment from Maple Park Capital Partners will support the 575-unit chain’s ongoing expansion into new regions, including Texas and Michigan.

    By • Jan. 9, 2025
  • An image of several people eating hamburgers and french fries from a generic fast food restaurant.
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    Diamond Dogs via Getty Images
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    Deep Dive

    8 restaurant trends to watch in 2025

    Analysts forecast a slightly rosier year, predicting that consumer demand will rise, bankruptcies will slow and increased valuations will spark M&A.

    By , • Jan. 7, 2025
  • An image of a building with Tropical Smoothie Cafe signage
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    Permission granted by Tropical Smoothie Cafe
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    The 10 biggest M&A restaurant deals of 2024

    While transactions slowed this year, there were still some transformative deals, like Blackstone’s $2 billion buyout of Tropical Smoothie Cafe and Darden’s $600 million Chuy’s acquisition.

    By • Dec. 12, 2024
  • An image of six different beers on a table with a menu below describing each brew.
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    The image by James Cridland is licensed under CC BY 2.0
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    SPB Hospitality sells brewery, specialty brands

    The transaction will allow SPB to focus on growing its flagship brands like Krystal, Logan’s Roadhouse and J. Alexander’s.

    By • Dec. 11, 2024
  • An image of TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    Former TGI Fridays CEO Ray Blanchette offers $30.5M for 9 company restaurants

    The bid for the restaurants shows some potential buyers still have confidence in the brand’s value, despite its recent closures.

    By • Dec. 9, 2024
  • Paytronix
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    Retrieved from Paytronix website.
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    Paytronix upgrades its software weeks after being acquired

    Additions include an AI tool that answers operators’ questions and a group of features meant to help manage and process online orders.

    By Brett Dworski • Nov. 20, 2024
  • An image inside a restaurant crowded with people. The wall says Fresh Brothers."
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    Retrieved from Fresh Brothers on November 18, 2024
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    Craveworthy buys emerging pizza brand

    The multi-brand platform has been on an acquisition spree in 2024, buying Sigri Indian BBQ and Untamed Brands, among others.

    By • Nov. 19, 2024
  • A sign that says "Since 1956 Jersey Miek's Subs"
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    Justin Sullivan via Getty Images
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    Jersey Mike’s sells majority stake to Blackstone

    The transaction, which is expected to close early next year, will allow the sandwich chain to accelerate its growth and invest further in technology.

    By • Nov. 19, 2024
  • A man carrying orange bags with the word Grubhub on the side.
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    Courtesy of Grubhub
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    Wonder to acquire Grubhub for $650M

    Just Eat Takeaway originally purchased Grubhub for $7 billion in 2020 and has been trying to sell the company since 2022.

    By • Updated Nov. 13, 2024
  • A worker takes a bowl of processed avocados from a prototype of Vebu's Autocado.
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    Courtesy of Chipotle
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    Serve Robotics buys Autocado maker Vebu

    The acquisition of the Chipotle-backed equipment developer signals Serve’s interests are growing from the sidewalk to the kitchen.

    By • Nov. 7, 2024
  • An image of a beige brick building with a large sign that says "Buca di Beppo."
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    Clayton Chase via Getty Images
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    Buca di Beppo to be sold to stalking horse bidder for $27M

    Main Street Capital Corporation originally provided the chain a loan of $47 million in 2015 and will buy it out of bankruptcy. 

    By • Nov. 6, 2024