M&A

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

Fat Brands acquires Native Grill & Wings for $20M

In its fourth acquisition of the year, the company adds a 23-unit restaurant chain to bulk up its existing chicken wing platform.

By Julie Littman • Nov. 22, 2021

How Presto's public debut could help restaurants improve labor productivity

Raising millions of dollars in capital will help the restaurant technology company invest in improving its labor saving and guest experience products.

By Julie Littman • Nov. 15, 2021

Restaurant Brands International to acquire Firehouse Subs for $1B

Burger King's parent company will make the largest restaurant transaction of the year and its first acquisition since it bought Popeyes in 2017 for $1.8 billion.

By Julie Littman • Updated Nov. 15, 2021

Private investment firm to buy one of Taco Bell's largest franchisees

Orangewood Partners' purchase of Pacific Bells, which operates over 250 Taco Bells in nine states, comes amid a broader restaurant M&A spike.

By Alicia Kelso • Nov. 12, 2021

DoorDash makes major expansion into Europe with $8B acquisition

By acquiring Finland-based Wolt, which operates in 23 countries, DoorDash will be able to build out an international presence without losing focus on the U.S. 

By Julie Littman • Nov. 10, 2021

Sun Holdings adds Applebee's units to its growing portfolio

The third-largest franchisee in the U.S. acquired 131 Applebee's restaurants in 14 states from RMH Franchise Holdings.

By Alicia Kelso • Nov. 8, 2021

Fat Brands buys Fazoli's for $130M

The multi-branded restaurant platform has made its fourth acquisition in the last 15 months with the addition of the 200-unit QSR chain, which has a pipeline of another 100 units. 

By Julie Littman • Nov. 2, 2021

Fuzzy's Taco Shop parent forms new restaurant group Experiential Brands

The company aims to double the Mexican brand's footprint in five years, while also looking for other food and beverage concepts to add to its portfolio.

By Alicia Kelso • Oct. 27, 2021

McDonald's will sell McD Tech Labs to IBM

The sale of the platform reflects the chain's evolving approach to insourcing versus outsourcing technology, CEO Chris Kempczinski said.

By Emma Liem Beckett • Oct. 27, 2021

Olo buys Wisely for $187M, its first acquisition as a public company

The transaction will allow Olo to expand its capabilities, which have largely been focused on online ordering, to include customer intelligence and engagement tools. 

By Julie Littman • Oct. 22, 2021

Fiserv expands restaurant reach with BentoBox purchase

The global payments processor said it would buy BentoBox to expand the reach of its Clover unit in servicing restaurants.

By Lynne Marek • Oct. 19, 2021

BurgerFi acquires pizza chain for $161.3M

Just over a year after it went public, the fast casual burger chain landed its first purchase, making Anthony's Coal Fired Pizza & Wings part of its strategy to become a multibrand platform.

By Emma Liem Beckett • Oct. 11, 2021

Reef Technology acquires logistics partner Bond

The acquisition strengthens Reef's distribution capacity, which will now include Bond's last-mile delivery nano-warehouses.

By Emma Liem Beckett , Aneurin Canham-Clyne • Oct. 7, 2021

BBQ Holdings will buy Tahoe Joe's Famous Steakhouses

This acquisition comes just a few months after the restaurant group bought Village Inn and Bakers Square for $13.5 million.

By Emma Liem Beckett • Oct. 7, 2021

Kitchen United buys Zuul, entering New York City market

After announcing one of the first acquisitions in the ghost kitchen segment, the company's chief business officer said there's potential for more deals as it looks to expand geographically.

By Aneurin Canham-Clyne • Oct. 4, 2021

Fat Brands to acquire Twin Peaks for $300M

The deal marks Fat's entry into "polished casual dining," a departure from its rosters of QSR, fast causal and casual restaurant brands, and is the company's second major purchase this summer. 

By Emma Liem Beckett • Sept. 1, 2021

Sweetgreen acquires automated restaurant company Spyce

The salad chain plans to use the Boston-based firm's robot-powered technology in its restaurants to improve the guest and employee experience.

By Julie Littman • Aug. 24, 2021

Tocaya and Tender Greens merge, form new parent company

The Los Angeles-based fast casuals boast a combined 45 locations in California and Arizona and are looking to drive rapid growth through traditional and potentially nontraditional channels. 

By Julie Littman • Aug. 4, 2021

High Bluff Capital buys Church's Chicken

Under High Bluff's Rego Restaurant Group, which recently partnered with Ghost Kitchen Brands, the chain could access new paths to innovation. 

By Julie Littman • Updated Aug. 2, 2021