M&A

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 Julie Littman • Nov. 2, 2022

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

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 Julie Littman • Aug. 9, 2022

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 Aneurin Canham-Clyne • Aug. 9, 2022

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

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

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 Julie Littman • July 21, 2022

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 Julie Littman • July 6, 2022

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 Julie Littman • July 1, 2022

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 Julie Littman • Updated June 29, 2022

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 Julie Littman • June 22, 2022

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

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 Julie Littman • May 25, 2022

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 Julie Littman • May 25, 2022

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 Julie Littman • 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 Julie Littman • May 4, 2022

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 Julie Littman • April 20, 2022

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 Julie Littman • April 6, 2022

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 Emma Liem Beckett • Dec. 21, 2021

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

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 Julie Littman • Dec. 13, 2021

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 Aneurin Canham-Clyne • 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 Julie Littman • Updated Dec. 6, 2021