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acquisitions

Financing

Quaker Steak & Lube sold for $5M

Seller Travel Centers of America said its nonfuel revenues were being dragged down because of full-service restaurant closings.

Financing

A much smaller Ruby Tuesday emerges from bankruptcy

The venerable casual-dining chain is less than half the size it was two years ago and is putting its hopes behind delivery-only brands.

Investors are increasingly using “loan-to-own” strategies to take control of restaurant chains, says RB’s The Bottom Line.

The burger chain, which was considering bankruptcy, has paid off its loan and then sued Fortress Investment Group for allegedly trying to take the company over.

The lender, which has controlled the eatertainment chain since last year, was named the stalking horse bidder for the chain, but other potential buyers are lurking.

The company and its lender have made peace and the company is attracting interest from potential buyers.

The private-equity firm, one of the most aggressive investors in the restaurant space, has established a big, new fund.

The CEO of Union Square Hospitality Group and founder of Shake Shack has started a $250 million blank-check company targeting acquisitions in any industry, says RB’s The Bottom Line.

The owner of Landry’s and Golden Nugget, which built a $6.7 billion business through a series of acquisitions, now hopes a public offering will yield even more growth.

The restaurant conglomerate, along with the gaming company Golden Nugget, will be valued at $6.6 billion after the deal is complete.

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