GROUPE BAGATELLE acquired by NEXTSTAGE / MI3

The transaction involves a strategic growth investment by TA Associates in Gong Cha Group, with participation from the founders of Gong Cha Korea. This move represents a significant platform investment in the global consumer beverage space, supported by a unitranche debt financing package from Partners Group that includes an equity kicker. The strategic rationale is underpinned by the desire to accelerate the brand’s expansion into new and existing international markets, leveraging the acquirer’s deep global resources and long history of building value in franchised retail models

This transaction represents a massive secondary leveraged buyout wherein Goldman Sachs acquires the entire share capital of B&B from its historical financial sponsor, PAI Partners. Following a highly successful holding period marked by explosive operational growth and a near-doubling of profitability, the exiting French private equity fund secures a highly lucrative exit. Executed through preemptive exclusive negotiations before a formal auction process, this new corporate partnership will provide B&B with the immense capital backing required to aggressively accelerate its global footprint expansion, specifically targeting rapid establishment rollouts across new international markets

MTY Food Group Inc., a leading Canadian multi-brand restaurant franchisor, announced on April 11, 2019, that it had entered into a definitive merger agreement to acquire Papa Murphy's Holdings, Inc., the largest U.S. take-'n'-bake pizza chain. The acquisition represented MTY's strategic entry into the massive U.S. pizza category, bringing the fifth-largest pizza chain by system size into its diversified portfolio. Papa Murphy's distinctive take-'n'-bake model—freshly handcrafted pizzas sold ready-to-bake at home—offered clear differentiation from traditional pizza delivery and dine-in competitors while capitalizing on growing consumer demand for convenient, high-quality home meal solutions

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

The acquisition of Belmond Ltd. by LVMH Louis Vuitton Moët Hennessy represents a strategic move by the luxury conglomerate to expand its presence in the hospitality industry. The deal brings together two leaders in the luxury sector, with Belmond's unique collection of hotels, trains, and river cruises complementing LVMH's existing portfolio of luxury brands. The acquisition is expected to enhance LVMH's ability to deliver exceptional experiences to its customers, while also providing Belmond with the resources and support to continue its growth and development

Inspire Brands completed the acquisition of Sonic Corp. on December 7, 2018. After closing, Sonic continued to operate as an independent brand under the Inspire umbrella, with Claudia San Pedro leading the brand and Cliff Hudson serving as senior advisor during the transition. The strategic rationale was straightforward: Sonic offered a highly distinctive and nationally recognized concept with a loyal customer base, strong systemwide sales and meaningful room for operational and geographic growth

In December 2018, Dentressangle Initiatives entered the capital of Big Mamma Group through a minority growth‑equity investment, as part of the group’s expansion phase. The deal is structured as a minority stake, with founders Tigrane Seydoux and Victor Lugger retaining control and management, and a plurality of earlier business angels and small funds remaining in the cap table. The proceeds are used to fund new restaurant openings in Paris, support the early international expansion (including the London launch of Gloria), and strengthen central functions such as supply chain, IT, and operational governance

Durational Capital Management LP and The Jordan Company, L.P. agreed to acquire Bojangles. The board approved the transaction after reviewing strategic alternatives, and the company was expected to remain an independent private business based in Charlotte, North Carolina following closing, which was targeted for the first quarter of 2019. The strategic rationale centered on Bojangles’ strong regional brand equity, its loyal Southern consumer base, and the opportunity to support a proven quick-service platform facing same-store sales pressure and competitive intensity

Lagardère Travel Retail has completed the acquisition of Hojeij Branded Foods (HBF) and its subsidiary Vino Volo, a leading player in North American airport dining. This move is part of the company's strategy to strengthen its presence in the airport foodservice segment in North America, a growing market driven by increasing passenger traffic and the rising demand for high-end concession dining experiences. The integration of HBF creates a premier airport dining operator in North America, combining Lagardère Travel Retail's existing operations with those of the acquired company

Focus Brands completed its acquisition of Jamba in September 2018 following a tender offer for all outstanding shares. The deal was initially announced in August 2018 and closed after a majority of Jamba shares were tendered, with the remaining shares acquired through merger under Delaware law. Jamba became a wholly owned subsidiary of Focus Brands and continued to operate as an independent brand within the group. The strategic logic was to add a premium beverage and lifestyle concept to Focus Brands' portfolio and strengthen its position across snack and restaurant occasions