acquisitions

Financing

Investor behind Papa John’s comeback forms a SPAC

Starboard Value, which also overhauled the board at Darden Restaurants, has filed for a $300 million blank-check company, says RB’s The Bottom Line.

Financing

Bankrupt operator NPC to close up to 300 Pizza Hut locations

The franchisee is also selling its Pizza Hut units following an agreement with the franchisor.

The deal will add 325 locations to the fold of Fat Brands.

Tasty Restaurant Group has agreed to pay $1 for five Burger King locations in Iowa.

The struggling casual-dining brand says it could close units without more favorable leases and could be sold to one of its investors.

Sortis Holdings acquired Sustainable Restaurant Group and plans to implement its pre-pandemic growth strategy.

The private equity firm will pay $6.5 million for the Tex-Mex concept.

American Blue Ribbon Holdings, which declared bankruptcy in January, is selling the restaurants in a pair of deals, citing “liquidity constraints.”

The pizza chain is investing at least $40 million into its master franchisee there and has big hopes for its development in the fast-growing economy.

Special purpose acquisition companies, or SPACs, have been taking more companies like BurgerFi public. RB’s The Bottom Line examines the strategy and finds mixed results.

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