M&A


  • An image of a Wetzel's Pretzels inside a Macy's.
    Image attribution tooltip
    Retrieved from Wetzel's Pretzels on November 02, 2022

    MTY Food Group buys Wetzel’s Pretzels for $207M

    The purchase of the pretzel chain, which aims to reach 400 units by 2023, follows MTY’s acquisition of BBQ Holdings in September.

    By Nov. 2, 2022
  • First Watch restaurant
    Image attribution tooltip
    Permission granted by First Watch

    First Watch launches a secondary IPO

    The move comes weeks after Portillo’s announced a secondary offering, and may signal increasing confidence in the market after a slow IPO year.

    By Alicia Kelso • Sept. 14, 2022
  • Famous Dave's in Chantilly, Virgnia taken by Julie Littman of Restaurant Dive
    Image attribution tooltip
    Julie Littman/Restaurant Dive

    BBQ Holdings to be acquired by MTY Food Group for $200M

    The transaction will add nine brands to the Canada-based company and allow it to further expand its U.S. portfolio, which also includes Papa Murphy’s. 

    By Aug. 9, 2022
  • QDOBA Burrito
    Image attribution tooltip
    Courtesy of QDOBA

    Butterfly Equity to buy Qdoba, fold it into Modern Restaurant Concepts

    With the addition of the Mexican fast casual chain, Modern Restaurant Concepts expects growth potential to reach 3,000 units across brands. 

    By Aug. 9, 2022
  • 7-Eleven launches 7Now Gold Pass.
    Image attribution tooltip
    Courtesy of 7-Eleven

    7-Eleven reportedly acquires delivery startup, intends to compete with DoorDash

    The c-store giant bought Skipcart, which provides same-day and on-demand delivery, according to The Information. 

    By Brett Dworski • Aug. 8, 2022
  • Bellagreen
    Image attribution tooltip
    Courtesy of Ampex Brands

    Ampex Brands acquires American bistro concept Bellagreen

    The franchise group plans to introduce the eight-unit chain in every major metro area, Ampex CEO Tabbassum Mumtaz said.

    By Alicia Kelso • July 25, 2022
  • An image of a roundabout with a fountain outside a beige building with a sign that says Keke's Breakfast Cafe
    Image attribution tooltip
    Permission granted by Denny's

    Denny's completes $82.5M acquisition of Keke's Breakfast Cafe

    The breakfast chain, which has 52 locations in Florida, is expected to provide expansion opportunities as a complementary concept for Denny’s.

    By July 21, 2022
  • Image attribution tooltip
    Permission granted by Grubhub

    Grubhub, Amazon partner to expand Grubhub+ membership

    Amazon will be given warrants worth 2% in Grubhub shares, and access to additional shares if it brings more customers to Grubhub.

    By July 6, 2022
  • Panera Bread storefront
    Image attribution tooltip
    Permission granted by Panera Bread

    Panera terminates agreement with Danny Meyer's SPAC

    Due to unfavorable capital market conditions, Panera Brands and USHG Acquisition Corp. ended their relationship Friday. Panera said it will continue to explore a public listing if conditions improve.

    By July 1, 2022
  • Image attribution tooltip
    The image by Elvert Barnes is licensed under CC BY-SA 2.0

    Grubhub CEO: A strong partnership is preferred as company mulls future

    Just Eat Takeaway is focused on improving its U.S. business, but a sale isn’t off the table, Grubhub CEO Adam DeWitt said at the Wall Street Journal’s Global Food Forum.

    By Updated June 29, 2022
  • Image attribution tooltip
    Chicken Salad Chick

    Chicken Salad Chick inks franchise deals as it targets 500 units by 2025

    The fast casual chain signed two agreements that will bring 16 more locations to Texas, with plans to open about 50 restaurants nationwide this year. 

    By June 22, 2022
  • An image of a donut and other food items with a smartphone in the foreground
    Image attribution tooltip
    Courtesy of Lunchbox

    Lunchbox acquires NovaDine to improve offerings for enterprise chains

    The transaction will enable restaurants to manage digital guest experiences from a single operating system and increase Lunchbox’s scale.  

    By Alicia Kelso • June 8, 2022
  • Nestle Toll House Cafe cookies
    Image attribution tooltip
    Retrieved from Nestle Toll House Cafe by Chip on May 25, 2022

    Fat Brands to buy Nestle Toll House Cafe, bolstering its dessert category

    Fat plans to turn Nestle Toll House Cafe's 85 units into Great American Cookies locations after the acquisition closes. Terms of the deal weren't disclosed.

    By May 25, 2022
  • Wendy's
    Image attribution tooltip
    Thai Phi Le/Restaurant Dive

    Wendy's largest shareholder proposes to buy company

    Trian Partners and billionaire owner Nelson Peltz told the chain's board of directors Tuesday that Trian would explore an acquisition, merger or other transaction in which it would own the company.

    By May 25, 2022
  • Image attribution tooltip
    Courtesy of Woworks

    Woworks acquires fast casual chains Barberitos, Zoup

    The parent company of Saladworks will grow to six brands and over 400 locations with these two purchases. 

    By May 13, 2022
  • Denny's preps for growth as it hires Kelli Valade as CEO

    Red Lobster's former CEO will oversee several initiatives, including an $82.5 million acquisition of a Florida breakfast concept, tech upgrades and expansion of ghost kitchens. 

    By May 4, 2022
  • Image attribution tooltip
    Cindy Ord via Getty Images

    Just Eat Takeaway considering sale of Grubhub

    JET CEO Jitse Groen confirmed Wednesday the company is in active discussions for a strategic partnership and/or a partial or full sale of its U.S. subsidiary, which it bought in 2020.

    By April 20, 2022
  • Main Event Entertainment location
    Image attribution tooltip
    Permission granted by Main Event

    Dave & Buster's to buy Main Event for $835M

    Following the close of the all-cash transaction, which is expected to occur later this year, Main Event CEO Chris Morris will become Dave & Buster's CEO.

    By April 6, 2022
  • Image attribution tooltip
    Permission granted by DoorDash

    DoorDash buys Bbot to bolster in-store digital ordering capabilities

    The deal may grow DoorDash's partner business footprint, since Bbot services restaurants, hotels, bars, food halls, ghost kitchens and bowling alleys.

    By Alicia Kelso • March 1, 2022
  • McDonald's sells AI tech firm Dynamic Yield to Mastercard

    Franchisees complained Dynamic Yield hadn't delivered the sales boosts they expected at the drive-thru. The deal reflects McDonald's pivot toward outsourcing its technology.

    By Dec. 21, 2021
  • Image attribution tooltip
    Permission granted by Waitr

    Waitr plans to acquire a cannabis dispensary POS company for $90M

    The delivery company expects transactions on Cova's platform to reach approximately $2.3 billion. 

    By Alicia Kelso • Dec. 20, 2021
  • Image attribution tooltip
    TennesseePhotographer via Getty Images

    10 most impactful restaurant M&A deals of 2021

    Plentiful capital, concerns over changing tax laws and a decent recovery among QSRs helped drive transaction activity in 2021, but 2022 could slow dealmaking and spark more interest in full-service chains. 

    Dec. 15, 2021
  • Fertitta Entertainment may pay $33M to kill merger with Fast Acquisition Corp.

    The deal would have taken Fertitta public, but owner Tilman Fertitta ultimately decided to keep the company private. Fast will continue to look for another operating company to combine with.

    By Dec. 13, 2021
  • Reef Kitchens prides itself on an innovative mix of off-premise offerings.
    Image attribution tooltip
    Courtesy of REEF Technology
    Reef Technology's expansion

    Reef acquires hospitality startup 2nd Kitchen

    The purchase strengthens Reef's position in the virtual kitchen space, and comes two months after it bought logistics partner Bond. 

    By Dec. 7, 2021
  • Jack in the Box to buy Del Taco for $575M

    The transaction, which is expected to close during the first quarter of 2022, will result in a combined unit count of 2,800 across 25 states. 

    By Updated Dec. 6, 2021