Restaurants & Hospitality Buyout Acquisitions in 2020
Acquisition Volume in Restaurants & Hospitality Buyout in 2020 by Year
Last 5 years
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December 31, 2020
- Buyer
- Century Golf Partners, HKI (Hankuk Industry partnership)
- Target
- Las Posas Country Club
- Seller
- Members of Las Posas Country Club
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Type
- Buyout
Century Golf Partners and an HKI (Hankuk Industry) partnership acquired the member-owned Las Posas Country Club in Camarillo, California, with the sale finalized on December 31, 2020 after an overwhelming member vote. Century Golf will operate the club under its Arnold Palmer Golf Management brand and the buyers plan capital improvements while providing members reciprocal access to Century Golf's Palmer Advantage network.
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December 30, 2020
- Buyer
- Sonesta International Hotels Corporation
- Target
- RLH Corporation
- Industry
- Restaurants & Hospitality
- Location
- Colorado, United States
- Type
- Buyout
Sonesta International Hotels Corporation announced a definitive agreement to acquire RLH Corporation (NYSE: RLH), a franchisor with more than 900 hotels. The deal will expand Sonesta's scale and franchising capabilities, creating a combined company with roughly 1,200 hotels across multiple brands; the transaction is expected to close in the first half of 2021 and will be funded with cash-on-hand and/or capital contributions from Sonesta's shareholders.
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October 30, 2020
- Buyer
- Rising Stars (TriSpan), TriSpan LLP
- Target
- Naya Group LLC
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
TriSpan’s restaurant platform Rising Stars acquired a majority investment in Naya Group, a fast-casual Middle Eastern/Mediterranean restaurant chain headquartered in New York. The investment will support Naya’s growth plans to scale its footprint across New York and into additional markets; financial terms were not disclosed.
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September 23, 2020
- Buyer
- Urban Tea Inc.
- Target
- Guokui Management Inc.
- Seller
- Guokui shareholders
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
Urban Tea Inc. entered into a share purchase agreement to acquire 80% of Guokui Management Inc. for $400,000 in cash. The acquisition gives Urban Tea ownership of the CROP CIRCLE trademark and operations in New York City as part of the company's U.S. expansion plans into casual food and beverage.
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September 9, 2020
- Buyer
- Natural Retreats
- Target
- 360 Blue
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Type
- Buyout
Natural Retreats, a national luxury vacation rental management company based in Charlottesville, Virginia, has acquired 360 Blue, a Santa Rosa Beach, Florida–based luxury vacation rental manager that operates over 700 properties across the Emerald Coast and select ski markets. The transaction expands Natural Retreats' footprint in high-end vacation destinations and adds 360 Blue's local operational capabilities and homeowner relationships to Natural Retreats' portfolio.
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- Buyer
- Levine Leichtman Capital Partners, Tropical Smoothie Cafe management team
- Target
- Tropical Smoothie Cafe, LLC
- Industry
- Restaurants & Hospitality
- Location
- Georgia, United States
- Type
- Buyout
Levine Leichtman Capital Partners (LLCP) partnered with Tropical Smoothie Cafe's management team to acquire Tropical Smoothie Cafe, a leading franchisor of fast-casual cafes with over 870 units across 44 states. The company will continue to be led by CEO Charles Watson and the existing executive team as LLCP works with management to grow unit count, improve franchisee unit economics and expand system-wide sales; debt financing was provided by Golub Capital.
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- Buyer
- Sortis Holdings, Sortis Rescue Fund, LLC, Bain Capital Double Impact, Kitchen Fund
- Target
- Sustainable Restaurant Group (SRG), Bamboo Sushi
- Industry
- Restaurants & Hospitality
- Location
- Oregon, United States
- Type
- Buyout
Portland-based Sortis Holdings, through its Sortis Rescue Fund, has acquired Sustainable Restaurant Group (SRG), owner of the Bamboo Sushi restaurant chain, out of bankruptcy and will assume operational control. Existing investors Bain Capital Double Impact and Kitchen Fund have reinvested in the business; Sortis plans to reopen locations, rehire staff, and pursue a resumed growth strategy after pandemic disruptions.
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July 17, 2020
- Buyer
- TowerBrook Capital Partners
- Target
- Azzurri Group
- Industry
- Restaurants & Hospitality
- Location
- England, United Kingdom
- Type
- Buyout
TowerBrook Capital Partners has acquired UK restaurant operator Azzurri Group through a pre-pack administration, providing over £70 million to restructure the business and its balance sheet. The deal preserves roughly 225 restaurants and protects about 5,000 jobs while enabling the group to reopen sites and pursue recovery following COVID-19 disruption.
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- Buyer
- Vacation Innovations, Tritium Partners
- Target
- Holiday Systems International
- Seller
- Craig Morganson
- Industry
- Restaurants & Hospitality
- Location
- Nevada, United States
- Type
- Buyout
Vacation Innovations (VI), backed by investment partner Tritium Partners, has acquired Holiday Systems International (HSI), a travel-technology and membership platform with nearly 400,000 members. The deal adds 12 brands and HSI's suite of booking, loyalty and membership software to VI's portfolio as VI expands its timeshare and broader travel offerings and scales HSI's team and products.
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June 18, 2020
- Buyer
- KKR
- Target
- Roompot Group
- Seller
- PAI Partners
- Industry
- Restaurants & Hospitality
- Location
- Zeeland, Netherlands
- Type
- Buyout
Global investment firm KKR has agreed to acquire Roompot Group, a leading European holiday parks operator and the #1 operator in the Netherlands, from PAI Partners. The deal, subject to customary closing conditions, will support Roompot's further development into a pan-European operator and build on its recent growth under PAI's ownership; financial terms were not disclosed.
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April 27, 2020
- Buyer
- Parks! America, Inc., Aggieland-Parks, Inc. (newly formed subsidiary of Parks! America, Inc.)
- Target
- Aggieland Safari
- Seller
- Aggieland Safari, LLC, Ferrill Creek Ranch, LLC, Vernell Investments, LLC
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Parks! America, Inc. acquired substantially all assets of Aggieland Safari (Aggieland Safari Adventure Zoo and Safari Park) effective April 27, 2020 for $7.125 million, financed with bank debt, a seller note and cash. The deal, completed through newly formed subsidiary Aggieland-Parks, Inc., provides geographic diversification for Parks! America's portfolio of wild animal safari parks.
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March 12, 2020
- Buyer
- ICV Partners, Inspire Brands
- Target
- Diversified Restaurant Holdings, Inc.
- Seller
- DRH common stockholders, JK&T Wings
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
ICV Partners completed a cash acquisition of Diversified Restaurant Holdings, Inc. for approximately $130 million, including assumption of debt and transaction expenses. Concurrently, JK&T executed a 15-store area development agreement and sold certain Buffalo Wild Wings restaurants in Florida and Massachusetts to Inspire Brands; ICV will combine the remaining DRH and JK&T locations to create the largest Buffalo Wild Wings franchisee with over 80 restaurants across five states.
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February 24, 2020
- Buyer
- Cordia Corporation (OTCM: CORG)
- Target
- The Blind Pig LLC (Blind Pig Restaurant)
- Seller
- The Blind Pig LLC, Peter Klamka (owner/controller of The Blind Pig LLC)
- Industry
- Restaurants & Hospitality
- Location
- Nevada, United States
- Type
- Buyout
Cordia Corporation (OTCM: CORG) entered into a letter of intent to acquire The Blind Pig LLC, owner of the Blind Pig Restaurant in Las Vegas, Nevada. Cordia intends to integrate the location into its Las Vegas presence as a dine-in flagship and as the foundation for branded virtual restaurants and delivery operations; the seller is a limited liability company controlled by Cordia CEO Peter Klamka.
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January 27, 2020
- Buyer
- Zuul Kitchens
- Target
- Ontray
- Seller
- Ontray
- Industry
- Restaurants & Hospitality
- Location
- Pennsylvania, United States
- Type
- Buyout
Zuul Kitchens acquired key technology assets from online food-ordering platform Ontray and appointed Ontray co-founder Tyler Wiest as Chief Technology Officer. The deal integrates Ontray’s ordering tools into Zuul’s ghost-kitchen offerings to give restaurant members affordable online ordering and improved delivery operations.
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January 23, 2020
- Buyer
- Chopt Creative Salad Company, L Catterton, Founders Table Restaurant Group
- Target
- Dos Toros Taqueria
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
Fast-casual salad chain Chopt has purchased burrito chain Dos Toros Taqueria in a deal funded by private equity firm L Catterton. The two brands will sit under a new parent, Founders Table Restaurant Group (led by Chopt CEO Nick Marsh), remain separate customer-facing concepts and will roll out a shared loyalty program; financial terms were not disclosed.
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January 6, 2020
- Buyer
- Yum! Brands, Inc.
- Target
- The Habit Restaurants, Inc. (The Habit Burger Grill)
- Seller
- Public shareholders of The Habit Restaurants, Inc.
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Type
- Buyout
Yum! Brands agreed to acquire all outstanding common shares of The Habit Restaurants, Inc. (The Habit Burger Grill) for $14.00 per share in cash, a transaction valued at approximately $375 million. The acquisition adds a fast-casual, chargrill-focused restaurant concept headquartered in Irvine, California to Yum!'s portfolio and is expected to close by the end of Q2 2020, with The Habit remaining based in Irvine and reporting into Yum!'s management.
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January 6, 2020
- Buyer
- Sykes Holiday Cottages
- Target
- Pure Cottages Group
- Seller
- LDC
- Industry
- Restaurants & Hospitality
- Location
- Cumbria, United Kingdom
- Type
- Buyout
Chester-based Sykes Holiday Cottages has acquired Pure Cottages Group from private equity investor LDC for an undisclosed sum. The deal brings the Pure Cottages portfolio — a collection of five luxury regional holiday rental brands managing more than 1,500 holiday homes across Cumbria, Cornwall and the Cotswolds — into Sykes' wider network to bolster its premium offering and support further UK and international expansion.
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