25 mergers and acquisitions in and around the restaurant industry in 2021

<p><a href="https://www.nrn.com/fast-casual/capriotti-s-sandwich-shop-acquires-wing-...’s Sandwich Shop acquired Wing Zone </a>in early January.</p>

<p>An affiliate of private investment firm <a href="https://www.nrn.com/quick-service/peak-rock-capital-buys-houston-based-d... Rock Capital purchased Shipley Franchise Company and Shipley Do-Nut Flour &amp; Supply Co.</a>, which together franchise and supply product for Shipley Do-Nuts, a chain of around 300 units based in Houston and specializing in doughnuts and kolaches, in early January.</p>

<p>In early January, NPC International, a major Wendy’s and Pizza Hut franchisee which declared bankruptcy in summer 2020, agreed to sell its restaurants and other assets to <a href="https://www.nrn.com/quick-service/flynn-restaurant-group-agrees-buy-all-... Restaurant Group and Wendy’s parent company</a> in two separate transactions. <a href="https://www.nrn.com/quick-service/bankruptcy-court-approves-sale-npc-int... sale was approved later that month</a> and <a href="https://www.nrn.com/quick-service/flynn-restaurant-group-finalizes-acqui... in March</a>; <a href="https://www.nrn.com/mergers-acquisitions/delight-restaurant-group-acquir... Restaurant Group also acquired 54 Wendy’s</a> in the deal.</p>

<p><a href="https://www.nrn.com/family-dining/amici-partners-group-finalizes-acquisi... Partners Group LLC finalized the acquisition of Friendly’s Restaurants</a> for an undisclosed amount in mid-January. Former Friendly’s Restaurants owners Sun Capital partners announced the bankruptcy asset sale in November 2020.</p>

<p><a href="https://www.nrn.com/mergers-acquisitions/freddy-s-frozen-custard-sold-th... Street Capital Partners acquired Freddy’s Frozen Custard &amp; Steakburgers</a> in early March.</p>

<p>Squarespace continued its mission to provide a full suite of services to its clients with <a href="https://www.nrn.com/news/ecommerce-platform-squarespace-buys-reservation... purchase in late March of Tock</a>, a reservation platform that allows for dynamic pricing as well as takeout and delivery orders.</p>

<p>Atlanta-based private equity firm <a href="https://www.nrn.com/mergers-acquisitions/roark-capital-acquires-nothing-... Capital announced in mid-May the acquisition of Addison, Texas-based, 390-unit bakery chain Nothing Bundt Cakes</a> from Levine Leichtman Capital partners.</p>

<p><a href="https://www.nrn.com/quick-service/lee-s-famous-recipe-chicken-sold-artem... Recipe Group LLC agreed to sell its 130-unit quick-service fried chicken chain Lee’s Famous Recipe Chicken</a> to a subsidiary of Artemis Lane Partners in late June.</p>

<p><a href="https://www.nrn.com/family-dining/famous-dave-s-parent-company-bbq-holdi... Holdings Inc., the parent company of Famous Dave’s and Granite City Brewers, agreed to buy VIBSQ Holdco LLC</a>, the parent of Village Inn and Bakers Square, for around $13.5 million in late June.</p>

<p>In late June, <a href="https://www.nrn.com/quick-service/fat-brands-acquire-hot-dog-stick-and-m... Brands announced the intention to acquire Global Franchise Group</a>, which franchises and operates quick-service brands Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery and Pretzelmaker, from Serruya Private Equity, Inc. and Lion Capital LLP for $442.5 million in cash and stock. It was the first of many acquisitions Fat Brands made this year.</p>

<p>Yum Brands and 7-Eleven franchisee <a href="https://www.nrn.com/quick-service/yum-brands-franchisee-ampex-brands-acq... Brands announced in late June the acquisition of bakery-café chain Au Bon Pain</a> from JAB Holding-owned Panera Bread.</p>

<p><a href="https://www.nrn.com/mergers-acquisitions/fiesta-restaurant-group-selling... Restaurant Group sold fast-casual Mexican restaurant Taco Cabana </a>to YTC Enterprisees, an affiliate of 400-unit, Jack in the Box, El Pollo Loco and Denny’s franchisee, Yadav Enterprises, Inc. for $85 million in early July.</p>

<p><a href="https://www.nrn.com/mergers-acquisitions/spb-hospitality-agrees-acquire-... Hospitality, parent to Logan’s Roadhouse and several brewery brands, acquired the 47-unit J. Alexander’s Holdings Inc.</a> in a $220 million deal, the companies said in early July.</p>

<p><a href="https://www.nrn.com/fast-casual/tender-greens-and-tocaya-merge-form-new-... California-based restaurant chains Tender Greens and Tocaya merged </a>and formed a new parent company called One Table Restaurant Brands, or OTRB, in early August.</p>

<p>Multiconcept operator <a href="https://www.nrn.com/fast-casual/jab-holding-forms-new-panera-brands-brin... Holding Co. in early August gathered some of its early daypart brands under one platform with the formation of Panera Brands</a>, a group including Panera Bread, Caribou Coffee and Einstein Bros. Bagels.</p>

<p><a href="https://www.nrn.com/fast-casual/sweetgreen-acquire-robot-powered-boston-... announced in late August the acquisition of Spyce</a>, a two-unit lunch bowls concept based out of Boston.</p>

<p><a href="https://www.nrn.com/casual-dining/fat-brands-acquire-twin-peaks-garnett-... Brands in early September agreed to acquire casual-dining chain Twin Peaks</a> from Garnett Station Partners for $300 million.</p>

<p><a href="https://www.nrn.com/fast-casual/burgerfi-acquire-anthony-s-coal-fired-pi... International in mid-October announced the intention to acquire Anthony’s Coal Fired Pizza &amp; Wings </a>for $161.3 million from growth investment firm L Catterton.</p>

<p><a href="https://www.nrn.com/mergers-acquisitions/rapid-fired-pizza-acquired-fran... Fired Pizza announced in late October that the company had been acquired </a>for an undisclosed amount by franchisees Mike Kern and Chip Hurst under the company name Pie Guys Restaurants LLC.</p>

<p><a href="http:// https://www.nrn.com/fast-casual/fat-brands-acquire-fazoli-s-130-million"... Brands announced in early November its intention to acquire fast-casual Italian chain Fazoli’s</a> for $130 million from Sentinel Capital Partners.</p>

<p><a href="https://www.nrn.com/finance/panera-brands-go-public-and-merge-danny-meye... Brands said in early November it would return to the public markets</a> in a transaction that would bring in as a cornerstone investor a special purpose acquisition company, or SPAC, led by New York restaurateur Danny Meyer.</p>

<p><a href="https://www.nrn.com/quick-service/restaurant-brands-international-acquir... Brands International announced in mid-November it would acquire quick-service chain Firehouse Subs</a> for $1 billion in an all-cash deal.</p>

<p><a href="https://www.nrn.com/mergers-acquisitions/fat-brands-acquire-native-grill... Brands announced in late November the intention to acquire 23-unit Phoenix-based Native Grill &amp; Wings</a> for $20 million from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC.</p>

<p>Fast-casual chin <a href="https://www.nrn.com/fast-casual/velvet-taco-sold-leonard-green-partners"... Taco was sold to private equity firm Leonard Green &amp; Partners L.P.</a>, from former majority owner L Catterton, another private equity firm, in late November.</p>

<p><a href="https://www.nrn.com/quick-service/jack-box-buy-del-taco-575-million">Jack in the Box said in early December it would acquire fellow quick-service chain Del Taco </a>for $12.51 per share, or around $575 million.</p>