FOODBOX acquired by BLUEGEM CAPITAL PARTNERS

Denny's Corporation acquired 100% of the assets of Keke's Breakfast Cafe. The transaction was funded through a combination of cash on hand and borrowings from Denny's existing revolving credit facility. Strategically, the acquisition allows Denny's to enter the fast-growing "A.M. eatery" segment with a proven, higher-price-point brand that complements its core diner business without cannibalizing its existing customer base. Keke's will operate as an independent subsidiary, maintaining its own leadership team, branding, and operational strategies to preserve its unique identity and millennial appeal

The acquisition of an 85% stake in MMV by Compagnie des Alpes represents a strategic growth initiative, enabling the company to bolster its presence in the European leisure and ski resort industry. By acquiring MMV, the second-largest operator of hotels and club residences in the French Alps, Compagnie des Alpes gains control of a portfolio comprising 20 establishments across 16 renowned ski resorts. This transaction facilitates vertical consolidation of the company's value chain, substantially expanding its mountain accommodation capabilities, with the acquired assets set to complement its existing operations, thereby enhancing its overall market position, and entering new markets, with potential for increased revenue streams, through the integration of MMV's establishments, resulting in a significant increase in the company's scale and scope

DeA Capital Alternative Funds, through its specialized food and beverage vehicle Taste of Italy 2, acquired a majority stake in the Spanish fast-casual restaurant chain, Pizzerías Carlos. This strategic investment is designed to provide the capital and support necessary to accelerate the company's ambitious expansion plans across the Iberian Peninsula, specifically targeting growth in Spain and Portugal. The transaction was reportedly initiated after the company's founders received multiple unsolicited offers, prompting them to engage financial advisors to explore strategic partnerships

Jack in the Box Inc. finalized its acquisition of Del Taco Restaurants, Inc. via a merger agreement, securing full ownership and delisting Del Taco from NASDAQ. Synergies stem from overlapping guest demographics, menu overlaps in variety-driven comfort foods, and aligned cultures prioritizing innovation and value—enabling shared investments in digital platforms, technology, and franchise development. Timing capitalized on post-pandemic recovery, with ambitions for unit expansion, remodels, and procurement savings projected at $15 million by fiscal 2023 end

PureGym has secured a £300 million equity investment from KKR, marking a significant milestone in the group’s international expansion and digital development strategy. KKR joins the capital structure as a significant minority investor alongside the majority owner, Leonard Green & Partners (LGP), and the company’s management team. The investment is structured as Convertible Cumulative Preference Shares, which rank junior to the existing Senior Secured Notes and feature accruing, non-paid dividends

Sun Communities has entered into a definitive agreement to acquire Park Holidays UK, the second-largest operator of holiday parks in the UK, marking the company's entry into the British market for leisure and vacation homes. The US-based group is acquiring a portfolio of holiday communities primarily located in popular coastal areas in southern England. The acquisition represents a natural extension of Sun Communities' business and is in line with its international expansion strategy. It provides a premier growth platform in a still-fragmented UK market, while further diversifying the company's geographic footprint

Restaurant Brands International Inc. agreed to acquire Firehouse Subs in an all-cash transaction, integrating the sandwich specialist into its QSR powerhouse portfolio. Structure encompasses full ownership of Firehouse Restaurant Group Inc., funded by cash and debt, pending regulatory nods. Strategic fit lies in complementary sandwich category exposure, mirroring RBI's playbook of high-quality, franchise-led growth with aligned guest profiles and innovation focus. Firehouse's purpose-driven model (rooted in firefighter heritage and public safety donations) enhances RBI's community ethos, while U.S...

PAI Partners acquired a majority stake in European Camping Group from a consortium including Carlyle, Montefiore Investment, and Ontario Teachers' Pension Plan (OTPP). The deal was backed by an Ares unitranche financing. PAI's entry is intended to support an aggressive consolidation strategy, targeting 5 to 10 campsite acquisitions per year to reinforce ECG's position as the dominant pan-European platform.

Bain Capital, in partnership with EBITDA Investments, has acquired a controlling stake in Bread Holdings from Risk Capital Partners (RCP) and other shareholders. The strategic rationale is to capitalize on GAIL’s post-pandemic sales rebound and its proven "neighborhood" model, which saw profitability hit record levels despite the UK’s lockdowns. Luke Johnson, the outgoing majority owner, rolled over a 15% stake to remain on the Board, ensuring leadership continuity alongside CEO Tom Molnar. The investment is intended to fund a rapid expansion plan to increase the bakery network from 73 to over 100 sites within three years

FAT Brands Inc. completed its largest-ever acquisition by purchasing Global Franchise Group from Serruya Private Equity and Lion Capital. The deal added Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzelmaker plus Atlanta manufacturing, doubling FAT's portfolio to 2,000+ units with $1.4 billion system-wide sales. Rationale emphasized diversification into pizza/desserts/snacks complementing FAT's burgers/chicken, leveraging GFG's resilience and synergies for $40 million EBITDA uplift to $55-60 million annually