Denny’s Restaurant Chain Goes Private in $620 Million Deal
Denny’s, the popular restaurant chain, has announced its acquisition by a consortium led by TriArtisan Capital Advisors, the owner of TGI Fridays. This deal, valued at $620 million, includes debt and reflects a rapidly changing landscape in the food service industry.
Denny’s Acquisition Details
The acquisition group consists of TriArtisan Capital Advisors, Treville Capital, and Yadav Enterprises. They will pay Denny’s stockholders $6.25 per share in cash. This share price represents a significant premium of 52.1% over Denny’s final stock price prior to the announcement.
Market Reaction
- Denny’s shares surged nearly 48% following the announcement.
- The acquisition aligns with a growing trend of private equity investments in the restaurant sector.
Industry Context
This acquisition is part of a broader trend involving private equity firms buying restaurant chains. Notable recent purchases include Subway and Dave’s Hot Chicken. Furthermore, reports indicate that Apollo Global Management is also pursuing a bid to take Papa John’s private.
Timeline and Future Implications
The Denny’s acquisition is expected to close in the first quarter of 2026. Following this, Denny’s common stock will be delisted from the Nasdaq, marking a new chapter for the company.
