acquisitions

Financing

Struggling Pinstripes to be delisted from the New York Stock Exchange

The bowling-and-bocce restaurant chain has seen sales plummet and recently said it was not meeting its loan covenants. The company just received a $7.5 million loan to fund operations.

Financing

Big Chicken joins Craveworthy Brands portfolio

The fast-casual chicken chain founded by basketball legend Shaquille O'Neal is partnering with Gregg Majewski in a deal that has also brought in pro football star Ndamukong Suh as an investor.

Authentic Restaurant Brands also named Alex Macedo CEO and Jon Howie CFO as its holdings reach $1 billion in annual revenue.

Company officials declined to comment on the roughly $1 billion reported deal, but it would add to the investment firm's already restaurant-rich portfolio.

BroadPeak Capital, launched by Tariq Farid and BlackRock veteran Aseem Khatri, has bought the fast-casual chain out of bankruptcy for $4.6 million.

The Canadian brand collector spent most of 2024 digesting its previous acquisitions and restructuring its business. The company wants to find something else, but only at the right price.

Restaurant Brands International is acquiring Burger King China from TFI Asia Holdings but plans to find a new local operator.

The Week in Restaurants: This week’s podcast features a discussion on In-N-Out’s move to Tennessee, the potential sale of Dave’s Hot Chicken, low-income consumers and a big restaurant technology blind spot.

A media report said an investment fund backed by the Qatar royal family is considering a bid for the pizza chain. The stock is up 30% this week.

The Bottom Line: Crumbl, and now Dave’s Hot Chicken, are both reportedly on the market, which will test the ability for fast-growth concepts to get massive valuations.

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