Global Franchise Group acquired by Serruya Private Equity / Lion Capital

UNITED STATES Hospitality & Leisure / Hospitality / Restaurants / Chains EV $300–700M

Context

Serruya Private Equity partnered with Lion Capital to acquire Global Franchise Group from Levine Leichtman Capital Partners, gaining control of the multi-brand QSR franchisor operating Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzelmaker across 1,400+ locations in 16 countries. The acquisition represented a classic franchise platform rotation where Serruya and Lion—experienced in consumer brands—succeeded Levine Leichtman after building scale from prior ownership. Strategic logic emphasized Global Franchise Group's diversified portfolio spanning pizza, cookies, corn dogs, ice cream, and pretzels, offering resilience through multiple dayparts and channels amid QSR fragmentation. Partners valued the company's franchise dominance (primarily franchised units) and international footprint, positioning it for accelerated unit growth via marketing synergies and operational improvements.

As a reminder, Global Franchise Group had previously acquired Round Table Pizza in 2017 as part of its expansion strategy.

Global Franchise Group, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

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Target

Global Franchise Group is a strategic brand management company headquartered in Atlanta, Georgia, United States, that franchises and operates five quick-service restaurant concepts: Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzelmaker. The company supports more than 1,400 franchised and corporate stores across 16 countries. Round Table Pizza specializes in dine-in pizza with California-style crusts and fresh ingredients. Great American Cookies offers gourmet cookies, cookie cakes, and cinnamon rolls. Hot Dog on a Stick features corn dogs and hand-stamped lemonade. Marble Slab Creamery provides premium ice cream mixed on frozen marble slabs with mix-ins. Pretzelmaker serves fresh-baked pretzels and gourmet dips.

Ent. Value

$300–700M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2017

2016

Other operations with Global Franchise Group

Other operations with Global Franchise Group
Date	Acquirer	Target	Country	Sector
07/2021	FAT BRANDS	GLOBAL FRANCHISE GROUP	UNITED STATES	Restaurants / Chains
09/2017	GLOBAL FRANCHISE GROUP	ROUND TABLE PIZZA	UNITED STATES	Restaurants / Chains

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REFERENCES

Valuation range: EV $300–700M

Revenue range: $1–10bn

EBITDA range: $25–50M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Global Franchise Group by Serruya Private Equity / Lion Capital 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: global franchise group

FAQ

What transaction does this page cover?

This page covers the acquisition of 100% of Global Franchise Group, an American company specialised in Hospitality, by Serruya Private Equity and Lion Capital in 2018, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Fat Brands in July 2021 (see the dedicated deal page for details).

How was the acquisition of Global Franchise Group by Serruya Private Equity valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $300–700M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Global Franchise Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Global Franchise Group generated annual revenue estimated in the $1–10bn range and EBITDA in the $25–50M bracket (FY 2017). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

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