M&A: Page 2


  • Ruth's Chris Steak House glass storefront
    Image attribution tooltip
    Thai Phi Le/Restaurant Dive
    Image attribution tooltip

    Darden to buy Ruth’s Hospitality Group for $715M

    This deal is likely the largest restaurant acquisition in the U.S. so far this year, as other transactions have involved small chains or companies that didn’t disclose financial terms. 

    By May 3, 2023
  • An image of a white and red restaurant with Krystal on the signage
    Image attribution tooltip
    Permission granted by Krystal
    Image attribution tooltip

    SPB Hospitality completes merger with Krystal Restaurants

    The QSR, which will continue to operate independently, will join SPB’s portfolio that includes J. Alexander’s and Logan’s Road House. 

    By April 27, 2023
  • An image of a white building with red stripes and KFC branding.
    Image attribution tooltip
    Moses Robinson via Getty Images
    Image attribution tooltip

    Yum completes exit of Russia with sale of KFC units

    The sale to local operator Smart Service includes all 1,112 Russian KFC units and the trademark for the Rostik’s brand, which KFC bought in 2011. 

    By April 18, 2023
  • A picture of the leadership of Port of Subs.
    Image attribution tooltip
    Courtesy of Port of Subs
    Image attribution tooltip

    Port of Subs acquired by private equity firm

    Area 15 Ventures looks to grow franchise sales in its portfolio, which includes Daddy’s Chicken Shack alongside Port of Subs, by 140% in 18 months.

    By April 4, 2023
  • An image of menu items from I Love Juice Bar
    Image attribution tooltip
    Retrieved from I Love Juice Bar on March 28, 2023
    Image attribution tooltip

    Main Squeeze Juice Co. acquires I Love Juice Bar

    The deal will almost double Main Squeeze’s unit count of 28 stores and give it a strong presence in Texas and Tennessee. 

    By March 28, 2023
  • A photograph of menu items from Firebirds Wood Fired Grill
    Image attribution tooltip
    Courtesy of Firebirds Wood Fired Grill
    Image attribution tooltip

    Firebirds Wood Fired Grill acquired by private equity firm

    Garnett Station Partners bought the polished-casual chain, which has 56 locations in 20 states, with plans to help it accelerate growth. 

    By March 27, 2023
  • drive thru painted on street for directions
    Image attribution tooltip
    booker5m via Getty Images
    Image attribution tooltip

    Toast buys Delphi Display Systems adding to QSR product suite

    Delphi offers digital display and drive-thru technology designed for QSRs and comes a year after Toast bought Sling to enhance employee scheduling. 

    By Feb. 16, 2023
  • Online business payments
    Image attribution tooltip
    Sitthiphong via Getty Images
    Image attribution tooltip

    How Chowly’s Koala buy will broaden online ordering access for SMBs

    With Koala’s enterprise-level digital ordering capabilities, Chowly will be able to offer a user-facing tool for its small and mid-size restaurant clients. 

    By Feb. 2, 2023
  • A person navigates Chowly's app on their cell phone
    Image attribution tooltip
    Permission granted by Chowly
    Image attribution tooltip

    Chowly makes first acquisition with Koala buy

    The purchase adds machine learning capabilities to Chowly’s platform, allowing it to give recommendations to restaurants to increase digital basket sizes.

    By Feb. 1, 2023
  • Subway's reimagined interiors put in place in 2021 as part of its Eat Fresh Refresh.
    Image attribution tooltip
    Permission granted by Subway
    Image attribution tooltip

    Subway reportedly mulling $10B sale

    This price tag would near Inspire’s mammoth $11.4 billion purchase of Dunkin’ in 2020, but it may be difficult to find a restaurant or private equity buyer in uncertain economic times. 

    By Updated Jan. 12, 2023
  • An image of a building with Fuzzy's Taco Shop logo.
    Image attribution tooltip
    Courtesy of Dine Brands
    Image attribution tooltip

    The 10 biggest restaurant deals of 2022

    Expensive capital and inflationary pressure slowed M&A last year, with both private equity firms and restaurant groups pausing their acquisition goals. 

    By Jan. 3, 2023
  • Main Event Entertainment location
    Image attribution tooltip
    Permission granted by Main Event
    Image attribution tooltip

    Distressed deals, QSR buys may drive 2023 restaurant M&A

    Buyers are attracted to models with strong off-premise sales that require lower building expenses and fewer employees, experts said.

    By Jan. 3, 2023
  • A picture of a Chipotle with a pickup lane.
    Image attribution tooltip
    Courtesy of Chipotle
    Image attribution tooltip

    Chipotle targets Gen Z with wellness Snapchat Lens, menu items

    To address how Gen Z and millennials approach wellness, the chain is focused on convenience and mobile gamification.

    By Aaron Baar • Jan. 3, 2023
  • Inspire Brands Alliance Kitchen
    Image attribution tooltip
    Permission granted by Inspire Brands
    Image attribution tooltip

    Inspire sells Rusty Taco to Gala Capital Partners

    The restaurant, which has grown its footprint 50% since Inspire acquired it in 2018, will retain its current management team. 

    By Updated Dec. 21, 2022
  • A promotional image for Freshii's coffee beverages.
    Image attribution tooltip
    Courtesy of Freshii
    Image attribution tooltip

    Freshii sells to Foodtastic for $54.5M

    Cash-strapped Freshii, which operates 37 U.S. locations out of 330-plus North American stores, marks Foodtastic’s second restaurant buy this month. 

    By Dec. 19, 2022
  • An image of a building with Fuzzy's Taco Shop logo.
    Image attribution tooltip
    Courtesy of Dine Brands
    Image attribution tooltip

    Dine Brands to buy Fuzzy’s Taco Shop for $80M

    The acquisition is the first for Dine Brands since it was founded in 2007, and adds a third restaurant to its portfolio. 

    By Dec. 5, 2022
  • An image of a Wetzel's Pretzels inside a Macy's.
    Image attribution tooltip
    Retrieved from Wetzel's Pretzels on November 02, 2022
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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
    Image attribution tooltip

    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