The giant multi-brand franchisee Sizzling Platter has been acquired by private-equity firm Bain Capital in a $1 billion deal, according to a Bloomberg report on Thursday.
The Salt Lake City-based group notified bondholders on Wednesday, according to sources that were not identified in the report. Sizzling Platter and Bain Capital did not immediately respond to requests for more information.
Sizzling Platter is the operator of more than 750 restaurants across eight brands, including Little Caesars, Jamba, Wingstop, Dunkin’, Jersey Mike’s, Cinnabon, Red Robin and Sizzler. Little Caesars is the largest of the brands the group operates, with about 450 units in the U.S. and Mexico.
The group was owned by CapitalSpring, which has been working with investment bankers at UBS and Deutsche Bank on a sale process for several months. The Bloomberg report said Jefferies Group Inc. and UBS Group AG were providing financing for the transaction.
Bain Capital has a long history in the restaurant world. The firm bought Fogo De Chao in 2023, and has had holdings in Bloomin’ Brands, Dunkin’ and Domino’s.
Earlier this year, Bain agreed to acquire the Japanese supermarket and specialty store business Seven & i for about $5.5 billion. The Japanese company is also a Denny’s franchisee in the region.
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