Dennys to be acquired and taken private in a deal valued at $620 million
3 minute readPublished: Tuesday, November 4, 2025 at 1:11 am
Denny's to Be Acquired in $620 Million Deal, Going Private
Breakfast chain Denny's is set to be acquired by a group of investors in a deal that will take the company private. The announcement, made on Monday, follows unanimous approval from Denny's board of directors. The transaction values the company at $620 million, including debt.
The acquiring group comprises private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital, and Yadav Enterprises, one of Denny's largest franchisees. Under the terms of the agreement, Denny's shareholders will receive $6.25 per share in cash, totaling $322 million. This represents a significant 52% premium over the company's closing stock price on Monday, which led to a 47% jump in after-hours trading.
The company, originally founded in 1953, has a long history, including its listing on the New York Stock Exchange in 1969. However, like many casual dining chains, Denny's faced challenges during the COVID-19 pandemic, experiencing a decline in sales. The company has also navigated evolving consumer preferences, including the rise of delivery services and competition from newer chains offering healthier breakfast options. Last fall, Denny's announced plans to close 150 underperforming locations. As of the second quarter, the company operated 1,558 restaurants globally, including 1,422 Denny's locations and 74 Kekes restaurants, a brand acquired in 2022.
Denny's CEO Kelli Valade stated that the company engaged with over 40 potential buyers and received multiple offers. Valade emphasized the board's belief that the announced deal is in the best interest of shareholders and the company's future. TriArtisan Co-Founder and Managing Director Rhohit Manocha highlighted Denny's as an "iconic piece of the American dream" with a strong franchise base. The deal is expected to close in the first quarter of 2026, pending shareholder approval.
BNN's Perspective:
The acquisition of Denny's reflects the ongoing shifts in the restaurant industry. While the move to take the company private may allow for strategic restructuring and investment, it also underscores the challenges faced by established brands in adapting to changing consumer habits and market competition. The success of this deal will depend on the ability of the new ownership to revitalize the brand and navigate the evolving landscape of the casual dining sector.
Keywords: Denny's, acquisition, private equity, shareholders, restaurant, breakfast, TriArtisan Capital Advisors, Treville Capital, Yadav Enterprises, stock price, deal, closing, shares, CEO, board of directors, casual dining, pandemic, Kekes.