Sun Holdings, an operator of numerous restaurant and hotel brands, has acquired Bar Louie out of bankruptcy.
The 39-unit gastropub chain joins a portfolio that includes Burger King, Papa Johns, Popeyes and Arby’s restaurants, as well as full-service concepts such as Applebee’s, IHOP and Golden Corral.
And it becomes one of four concepts that Sun owns outright, including Taco Bueno, Freebirds World Burrito and Uncle Julio’s.
Sun said the addition of Bar Louie would strengthen its presence in casual dining and allow it to diversify its offerings.
Bar Louie filed for Chapter 11 bankruptcy in March for the second time in five years, days after closing more than a dozen underperforming locations in the Midwest and New Jersey.
It said rising costs and macroeconomic pressure had weakened its performance, leading to a nearly 39% decline in earnings before interest, taxes, depreciation and amortization (EBITDA) in November 2024 compared to the year prior.
The Dallas-based chain was also deep in debt, with liabilities of $50 million to $100 million, compared to assets of $1 million to $10 million.
Bar Louie was founded in 1991 in Chicago and is known for its beer and cocktails and pub food. As of the bankruptcy filing, about two-thirds of its restaurants were company-operated and the rest were franchised.
Dallas-based Sun Holdings has been active in the M&A market in recent years. In 2024, it acquired the struggling Freebirds and Uncle Julio’s chains.
Founded in 1997, it now operates more than 1,800 restaurant locations nationwide.
“This acquisition marks an exciting step forward in our growth strategy,” said CEO and President Guillermo Perales in a statement. “Bar Louie is renowned for its signature martinis and innovative, craveable food. Its unique brand identity makes it an ideal addition to our casual dining portfolio and highlights our strategy of pairing operational expertise with growth opportunities to drive value for both customers and stakeholders.”
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