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Restaurant chain Denny’s (NASDAQ: DENN) has agreed to be acquired by a consortium led by TriArtisan Capital Advisors, the owner of TGI Fridays, in a $620 million transaction including debt. The buyer group also includes Treville Capital and Yadav Enterprises, a major restaurant operator.
Under the terms, Denny’s shareholders will receive $6.25 per share in cash, representing a 52% premium over the stock’s last closing price. Shares of Denny’s surged nearly 48% in after-hours trading following the announcement. The acquisition adds to a recent wave of private equity takeovers in the restaurant industry, following similar deals involving Subway and Dave’s Hot Chicken.
The deal, which is expected to close in the first quarter of 2026, will result in Denny’s common stock being delisted from the Nasdaq.
Source: Reuters
