Dealmakers: Dutch Bros IPO ‘Beyond My Wildest Dreams’ Plus More Bold Deals

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Dutch Bros Chairman On IPO: ‘Beyond My Wildest Dreams’

The Latest M&A Deals

• FAT Brands To Buy Native Grill & Wings

• MOD Pizza Announces IPO

• Large Taco Bell Franchisee Pacific Bells Acquired

• Roark Capital Acquires Mathnasium

• Jack in the Box CEO on 'Very Good' Del Taco Deal

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Burger King Parent Buys Firehouse Subs for $1 Billion as Founders Exit

Toronto-based Restaurant Brands International is buying Firehouse Subs for $1 billion in an all-cash deal the company said is expected to close in the coming months. With nearly 1,200 locations in 46 states, Canada and Puerto Rico, Firehouse grew systemwide sales 1.7 percent in 2020, to $869.3 million.

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New Buyer Sun Holdings a Fan of Applebee’s ‘Fancy Like’ Ads

A cheaper price tag and rising comp sales were the main reasons for Sun Holdings’ purchase of 131 Applebee’s restaurants from Acon Investments and RMH Franchise Corp. in November, said Guillermo Perales, Sun’s CEO.

TGA Premier Sports Acquired by Youth Athletes United

New York City-based Youth Athletes United acquired 59-unit TGA Premier Sports, the largest golf and tennis franchisor in the U.S., in a deal that took about a year. This brings Youth Athletes’ total footprint to 264 locations and comes on the heels of their Soccer Stars and Amazing Athletes acquisitions.

Home Franchise Concepts Acquires Aussie Pet Mobile Plus More Bold Deals

Home Franchise Concepts, a subsidiary of JM Family Enterprises, added Aussie Pet Mobile—with 74 franchises and 354 pet grooming vans—to its portfolio as its eighth brand.

Panera Brands announced plans on November 9 to go public, with backing when it does so from Danny Meyer’s special acquisition company known as Union Square Hospitality Group and also a personal investment from Meyer.

Los Angeles-based private equity firm Levine Leichtman Capital Partners sold Caring Brands International to Wellspring Capital.

Fieldtrip, a three-unit fast-casual rice bowl concept based in New York City, received a minority investment from Founders Table Restaurant Group, the parent of Chopt and Dos Toros, and Pendulum.

Starbird Chicken closed a $12 million capital raise led by KarpReilly, which plans to ignite the fast-food concept’s franchise offering and ghost kitchen expansion plans.

Investment firm Garnett Station Partners bought Mambo Seafood, which has 10 company-owned location and one franchise unit in Southern Texas.

Princeton Equity Group invested in 61-unit D1 Training, which is set to accelerate D1’s nationwide expansion with more than 125 locations in development.

Private equity firm TZP Group acquired Home Brands Group Holdings, the parent of bathroom remodeling franchise Re-Bath.

KBP Foods, led by Mike Kulp and Barry Dubin, bought 11 KFC restaurants and two KFC/Taco Bell restaurants in Virginia and North Carolina from Bacon Enterprises, who was advised by Unbridled Capital.

Management and development company S2K Hospitality bought the Hampton Roads, Virginia, Your Pie franchise, including two locations in the Hilltop area of Virginia Beach and Wards Corner in Norfolk.

Re/Max Results, the largest Re/Max franchise in the U.S., acquired five offices in the Brainerd Lakes region of Minnesota, bringing their total footprint to 47 offices with more than 1,300 agents serving Minnesota and Western Wisconsin.