acquisitions

Technology

Restaurant tech M&A is heating up again

Technology firms are consolidating as they look to offer restaurants more features in one box. Here are six deals from Q1.

Emerging Brands

Punch Bowl Social plans growth with two acquired concepts

Chicago-based eatertainment chain Punch Bowl Social has acquired two new brands that it plans to grow. One is karaoke-concept Voicebox and the other is an immersive art experience called Sweet Tooth Hotel. Both have cocktail bars.

The family dining restaurant chain has hired an investment bank to look for a buyer, after having considered a sale in 2022.

The online ordering provider for independent restaurants is also laying off a reported 30 people as it absorbs the Cuboh team.

The Bottom Line: The venerable Japanese steakhouse chain fetched a modest multiple in its sale to The One Group. But that’s where values have fallen these days.

Jordan Qsar, Grant Witherspoon, Chase Lambert and Austin Bernard were accused of trading stocks after learning that the Mexican restaurant chain would be sold to Jack in the Box.

Acquiring the 86-unit teppanyaki chain will make the owner of STK and Kona Grill a $1 billion company. And it's just the beginning of an ambitious long-term growth plan.

The deal for Safflower Holdings, which also includes the RA Sushi brand, will nearly triple One’s footprint to 168 locations worldwide.

Industry veteran Jonathan Tibus will take the reins as owner Thai Union Group prepares to sell the seafood chain. He replaces Horace Dawson, who is retiring.

The properties will become part of a new digital restaurant company called Everybody Eats that will include C3 and Nextbite.

  • Page 4