M&A


  • A daytime photograph of a small gray and orange building with "Salad and Go" signage.
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    The image by Salad and Go is licensed under CC BY-SA 4.0
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    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
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    Retrieved from Pizza Hut.
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    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
  • 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 Papa John's sign.
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    Joe Raedle / Staff via Getty Images
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    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.
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    Permission granted by Bonchon
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    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.
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    The image by Salad and Go is licensed under CC BY-SA 4.0
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    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
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    wdstock via Getty Images
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    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
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    Permission granted by Salad and Go
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    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.
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    Kelly Stroh/Restaurant Dive
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    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.
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    Permission granted by KFC
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    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
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    Permission granted by Fat Brands
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    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
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    marcnorman via Getty Images
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    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
  • A daytime photograph of a building with a stone facade and a large red sign that says "Red Robin." The parking lot in front of the building is empty.
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    Brett_Hondow via Getty Images
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    5 of the biggest restaurant franchisee deals in H1

    From Red Robin selling company-owned stores to Mas Restaurant Group offloading 87 Taco Bell locations, operators had big opportunities to buy up restaurants and expand their portfolios.

    By July 2, 2026
  • Taco Bell drive-through
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    Courtesy of Yum Brands
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    Taco Bell operator sells 43 restaurants

    Mas Restaurant Group divested all of its Ohio restaurants to Southpaw just weeks after it sold 44 of its Texas units to Ghai Restaurant Group.

    By Updated June 29, 2026
  • 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’s future is uncertain despite $2.7B sale

    Private ownership may enable a more drastic brand intervention for the struggling pizza chain.

    By June 22, 2026
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    Retrieved from Pizza Hut.
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    Yum Brands sells Pizza Hut for $2.7B

    The company will sell the chain to LongRange Capital and Yum China Holdings in two separate transactions following a review of strategic alternatives.

    By Updated June 16, 2026
  • A sign is posted in front of a Taco Bell restaurant on May 01, 2024 in Richmond, California.
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    Justin Sullivan via Getty Images
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    Major Taco Bell franchisee sells 44 restaurants

    Ghai Restaurants bought the Houston-area stores from Mas Restaurant Group for an undisclosed sum, more than doubling its Taco Bell footprint. 

    By June 1, 2026
  • A photogrpah of a multi-colored building with a sign in red that says "Red Robin."
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    CRobertson via Getty Images
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    Red Robin sells 30 company-owned units for $23.5M

    Evergreen Dining purchased the restaurants in Washington and Western Idaho and will continue to operate them under the Red Robin brand.

    By May 29, 2026
  • An image of a Twin Peaks restaurant in the daytime.
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    Permission granted by Twin Peaks
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    Fat Brands to be sold to multiple buyers for nearly $1B

    Elevation Burger and Hot Dog on the Stick will go to different owners in cash transactions, while Twin Peaks and the remaining Fat restaurant concepts will be sold in debt sales to two entities. 

    By May 21, 2026
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    Bruce Bennett via Getty Images
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    Dunkin’ owner Inspire Brands files for an IPO

    The company’s sprawling brand portfolio, ranging from sports bars to breakfast QSRs, could help insulate it from downturns within restaurant subsectors.

    By May 11, 2026
  • Bags of Blue Bottle coffee are on a store shelf
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    Justin Sullivan via Getty Images
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    Nestlé sells Blue Bottle Coffee to Centurium Capital

    The deal with the Chinese coffee giant includes the brand's cafes and the majority of its CPG business, a spokesperson confirmed.

    By Laurel Deppen • April 23, 2026
  • 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 could go public

    Rapid store growth and strong unit volumes have made the sandwich chain a restaurant sector success story. Will that track record yield a successful IPO?

    By April 20, 2026
  • An image of a front counter with bundt cakes in the display case
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    Permission granted by Nothing Bundt Cakes
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    Roark reportedly sells Nothing Bundt Cakes to KKR for $2B

    The brand’s fast growth and four-wall EBITDA likely made the 700-unit chain an appealing acquisition target. 

    By March 26, 2026
  • An evening photograph of a corner of an Applebee's restaurant
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    M. Suhail via Getty Images
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    53-unit Applebee’s franchisee files for bankruptcy

    Neighborhood Restaurant Partners Florida has faced financial pressures since sales began to soften in 2015 and will now sell its restaurants to Applebee’s.

    By March 26, 2026
  • An image of a beige building with a green sign that says "Krispy Kreme" in red and then "doughnuts" in white typeface.
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    Brandon Bell via Getty Images
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    Krispy Kreme closes $90M refranchising transaction with joint venture

    The deal with WKS Restaurant Group, which included the sale of 23 company-owned units, is part of the chain’s shift to a capital-light portfolio.

    By March 25, 2026
  • An image of a beige building wiht both Fatburger and Round Table Pizza signage
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    Permission granted by Fat Brands
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    Fat Brands could sell its assets

    If approved by the court, Fatburger’s owner, which is undergoing Chapter 11, will seek bids for all or some of its assets beginning in April.

    By March 17, 2026