At what enterprise value was DENNY'S acquired in 2026?

During the acquisition of DENNY'S by TRIARTISAN CAPITAL ADVISORS / TREVILLE CAPITAL GROUP / YADAV ENTERPRISES in 2026, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b USD.

What was the EV/EBITDA of DENNY'S when it was acquired by TRIARTISAN CAPITAL ADVISORS / TREVILLE CAPITAL GROUP / YADAV ENTERPRISES?

The estimated EV/EBITDA multiple for DENNY'S is in the range of 10x - 18x.

What was the revenue of DENNY'S at the time of the deal?

The revenue of DENNY'S at the time of the deal is estimated to be in the range of 250M - 500M USD.

What was the EBITDA of DENNY'S during the acquisition?

DENNY'S's EBITDA is estimated to be in the range of 50M - 100M USD.

How is the data for the DENNY'S acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the DENNY'S deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.globenewswire.com/news-release/2026/01/16/3220519/23968/en/denny-s-corporation-announces-completion-of-acquisition-by-triartisan-capital-advisors-treville-capital-group-and-yadav-enterprises.html

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Home Database Retail & ConsumerDENNY'S

01/2026

DENNY'S acquired by TRIARTISAN CAPITAL ADVISORS / TREVILLE CAPITAL GROUP / YADAV ENTERPRISES

UNITED STATES Hospitality & Leisure / Hospitality / Restaurants / Chains EV 500M - 1.5b USD

Context

TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises completed their acquisition of Denny's Corporation. The all-cash transaction closed on January 16, 2026, following shareholder approval and regulatory clearances, with Denny's common stock ceasing Nasdaq trading. The consortium sought Denny's iconic brand, strong franchise base, and loyal customers as a platform for growth. TriArtisan's restaurant experience, Treville's capital solutions, and Yadav's operational scale align with accelerating Denny's and Keke's initiatives while supporting franchisees. Key terms delivered a premium to shareholders, with Denny's management, led by CEO Kelli Valade, retaining leadership. Advisors included Truist Securities, Morgan Lewis, Sidley Austin, and Joele Frank for Denny's; Global Leisure Partners and Ropes & Gray for TriArtisan; and Choate Hall for Treville.

Previously, Denny'S had completed the acquisition of Keke'S Breakfast Cafe in 2022 as part of its consolidation strategy.

DENNY'S, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.0x).

-> Deep-dive in Retail & Consumer market trends

Target

Denny's Corporation is an American full-service restaurant company headquartered in Spartanburg, South Carolina, United States. The company operates and franchises Denny's Inc., a classic diner chain known for its 24-hour breakfast menu featuring items like Grand Slams, pancakes, burgers, and coffee. It also owns Keke's Inc., a breakfast and lunch café concept. As of September 24, 2025, Denny's brand included 1,459 global restaurants (1,397 franchised/licensed, 62 company-operated), while Keke's had 78 restaurants (55 franchised, 23 company-operated), totaling 1,537 locations. Denny's holds a prominent position in the family dining segment, leveraging its iconic brand and extensive franchise network to serve value-conscious consumers seeking reliable all-day dining options. The franchise-heavy model drives revenue through royalties, fees, and company store sales, providing scalable growth with low capital intensity.

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Other operations with DENNY'S

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
07/2022	DENNY'S	KEKE'S BREAKFAST CAFE	UNITED STATES	Restaurants / Chains

REFERENCES

Valuation range: EV 500M - 1.5b USD

Revenue range: 250M - 500M USD

EBITDA range: 50M - 100M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DENNY'S by TRIARTISAN CAPITAL ADVISORS / TREVILLE CAPITAL GROUP / YADAV ENTERPRISES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: denny's

Acquirer: treville capital group / triartisan capital advisors