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acquisitions

Financing

This has been the biggest restaurant IPO market in 25 years

 By Jonathan Maze on Nov. 29, 2021

The Bottom Line: With five companies having gone, and three more planning to go public, chains are finding a more receptive environment. But volatility could change that.

Financing

A Subway sale, even if one was coming, would not be easy

 By Jonathan Maze on Nov. 29, 2021

The Bottom Line: The company says it is not for sale. But valuation concerns and a lack of obvious buyers make a deal especially complicated.

Financing

Fat Brands is buying Native Grill & Wings for $20M

By Jonathan Maze on Nov. 22, 2021

The owner of Johnny Rockets and Twin Peaks is making its fourth deal this year with the acquisition of its third chicken wing chain.

Financing

Private equity cedes the market to IPOs

By Jonathan Maze on Nov. 17, 2021

The Bottom Line: Yet another initial public offering, this one from Fogo, shows that the market has shifted considerably toward the public markets.

Financing

A mutual history helps fuel the RBI-Firehouse deal

By Jonathan Maze on Nov. 15, 2021

The CEOs of Restaurant Brands International and Firehouse Subs bonded over their early years at Burger King. The result was a $1 billion acquisition and more international growth for the sandwich concept.

Financing

Restaurant Brands International is buying Firehouse Subs for $1B

By Jonathan Maze on Nov. 15, 2021

The owner of Burger King and Popeyes is adding the rapidly growing sandwich chain, citing its “long-term growth opportunity.”

Financing

The restaurant industry is doing great, or maybe it isn’t

By Jonathan Maze on Nov. 12, 2021

The Bottom Line: Cash flow is at record levels for many operators, valuations are strong, but the operating environment remains brutal.

Financing

Pacific Bells, one of Taco Bell’s largest operators, to be sold to Orangewood Partners

By Jonathan Maze on Nov. 11, 2021

The private equity firm has acquired the 250-unit franchisee from Partners Group. Tom Cook, the company’s founder, retains a significant stake.

Financing

How Andy Wiederhorn plans to pay for all his new chains

By Jonathan Maze on Nov. 10, 2021

A Deeper Dive: The CEO of Fat Brands, fresh off its latest announced deal, explains how his company is integrating $900 million worth of acquisitions in 14 months.

Financing

After an objection, Casa Bonita goes to ‘South Park’s’ creators

By Heather Lalley on Nov. 08, 2021

A bankruptcy judge signed off on Trey Parker and Matt Stone’s plans to buy the legendary roadside attraction and Mexican restaurant for $3.1 million.

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