Tropical Smoothie Cafe reportedly seeking $2B sale

This marks the second possible restaurant acquisition in progress this month, with Reuters reporting that Chuck E. Cheese’s parent company is seeking a $1 billion sale.

By Julie Littman • Dec. 21, 2023

Chuck E. Cheese’s parent company reportedly seeking sale

CEC Entertainment is preparing for an auction with a target valuation of $1 billion, per Reuters.

By Julie Littman • Dec. 19, 2023

The 5 biggest restaurant M&A deals of 2023

M&A has been slow since the end of 2022, but a handful of large deals were struck, including Darden’s buyout of Ruth’s Hospitality and Subway’s proposed sale to Roark.

By Julie Littman • Dec. 15, 2023

FTC reportedly investigating Roark’s Subway purchase

The agency began an investigation this month, Politico reports. The FTC is concerned the deal could create a monopoly in the sandwich segment, as Roark Capital also owns Arby’s, Jimmy John’s and related chains. 

By Julie Littman • Nov. 22, 2023

Chicken Salad Chick buys Piece of Cake to expand dessert menu

The acquisition of the Georgia-based cake chain will likely help Chicken Salad Chick compete with the broader menus of fast casual rivals.

By Aneurin Canham-Clyne • Nov. 2, 2023

Fat Brands buys Smokey Bones for $30M

Smokey Bones is Fat Brands’ first barbecue chain and could benefit from Fat’s aggressive franchising strategy.

By Julie Littman • Sept. 26, 2023

What Roark deal means for Subway franchisees

Under its new owner, the sandwich chain could see more rapid expansion, but operators may still be challenged by low store-level profitability.

By Julie Littman • Aug. 31, 2023

Subway to be acquired by Roark Capital

After a monthslong sales process, Roark emerged as the winning bidder with a reported purchase price over $9 billion. 

By Julie Littman • Aug. 24, 2023

Fogo de Chão to be acquired by Bain Capital

Rhône Capital is selling the full-service chain after it bought it in 2018 for $560 million. Under new ownership, Fogo de Chão plans to aggressively expand. 

By Julie Littman • Updated Aug. 15, 2023

Fiesta Restaurant Group will sell to Authentic Restaurant Brands

Fiesta will go private as part of the roughly $220 million deal, and its leadership team will continue to operate fast casual chain Pollo Tropical as an independent brand.

By Emma Liem Beckett • Aug. 7, 2023

Top restaurant M&A deals of H1 2023

From industry consolidation to Subway looking to sell itself, the first half of the year saw healthy transaction activity across multiple restaurant segments.

By Julie Littman • July 5, 2023

Pinstripes partners with SPAC to go public

The 13-unit eatertainment concept could go public in a deal with Banyan Acquisition Corp., with the combined companies worth $520 million.

By Julie Littman • June 23, 2023

C3 founder Sam Nazarian buys Nextbite

Nextbite’s delivery-only brands, and its partnerships with restaurants like IHOP and Nathan’s Famous, will continue under SBE Hospitality’s umbrella.

By Julie Littman • Updated June 14, 2023

Nextbite sells Ordermark US business to Indian software firm UrbanPiper

The transaction comes just a few weeks after Nextbite laid off an undisclosed number of employees, with some workers reporting the company would restructure. 

By Julie Littman • June 10, 2023

Southpaw acquires 40 Taco bell units in Atlanta

The franchisee, which operates 180 restaurants, said this transaction will add geographic diversity and grow its Taco Bell network.

By Julie Littman • June 9, 2023

Corner Bakery accepts $15M bid from SSCP Restaurant Investors

SSCP, which bought the company’s debt earlier this year, outbid stalking horse bidder Wexford Capital during an auction held last week. 

By Julie Littman • June 5, 2023

Activist investor may pressure Yelp to sell, reports say

TCS Capital Management wants Yelp to explore strategic alternatives, such as selling itself, as a way to boost shareholder value, per The Wall Street Journal. 

By Julie Littman • May 23, 2023

Private investor seeks $12M buyout of bankrupt Corner Bakery

The stalking horse bidder, an affiliate of Wexford Capital, has proposed to buy the company during an auction expected to occur next week. 

By Julie Littman • May 23, 2023

Deliverect acquires ChatFood, offers dine-in ordering

Deliverect will roll out new products in the coming months so restaurants can offer ordering via social media and QR codes for dine-in guests.

By Julie Littman • May 10, 2023

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 Aneurin Canham-Clyne • May 3, 2023

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 Julie Littman • April 27, 2023

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 Julie Littman • April 18, 2023

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 Aneurin Canham-Clyne • April 4, 2023

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 Julie Littman • March 28, 2023

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 Julie Littman • March 27, 2023