Virtual Dining Concepts Acquires Man Vs. Fries

Virtual Dining Concepts Acquires Empanadas United

April 30, 2025

Restaurants & Hospitality

Florida-based Virtual Dining Concepts (VDC) has acquired Empanadas United, an empanada-focused virtual restaurant brand founded by Victor Tejada. VDC will manage external market development and strategic partnerships while Tejada remains involved in daily operations as the brand scales its virtual footprint and aims for national expansion.

Value Foodservice Acquires 11 KFC Restaurants

December 11, 2024

Restaurants & Hospitality

Value Foodservice LLC (VFS), backed by BlackBern Partners LLC, has acquired 11 Kentucky Fried Chicken restaurants in Kentucky and Tennessee—mostly in the greater Nashville area—bringing VFS's total KFC count to 59 locations nationwide. The deal is an add-on acquisition for the PE-backed VFS platform as it continues geographic expansion and consolidation in the quick-service restaurant market.

Rhône Acquires Freddy's Frozen Custard & Steakburgers from Thompson Street Capital Partners

September 4, 2025

Restaurants & Hospitality

Investment funds affiliated with Rhône have acquired Freddy's Frozen Custard & Steakburgers from Thompson Street Capital Partners. Freddy's— a fast-casual franchise with more than 550 locations and over $1 billion in system-wide sales—will keep its existing leadership as Rhône supports continued market expansion and guest-experience improvements.

ICV Partners Acquires Diversified Restaurant Holdings

March 12, 2020

Restaurants & Hospitality

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.

Boathouse Capital and Green Shoot Partners Acquire Fresh Dining Concepts

December 4, 2019

Restaurants & Hospitality

Boathouse Capital partnered with independent sponsor Green Shoot Partners to acquire Fresh Dining Concepts, a Coral Gables‑based multi‑unit franchise operator that runs over 50 Auntie Anne's, Cinnabon and Carvel locations along the U.S. East Coast. Boathouse provided participating preferred equity while affiliates of Green Shoot Partners and FDC management invested common equity; debt financing was provided by Bridge Funding Group (a BankUnited subsidiary).

Lunchbox Acquires NovaDine

June 7, 2022

Cloud & SaaS

Lunchbox, a restaurant technology platform, has entered into a definitive agreement to acquire NovaDine, an enterprise digital ordering provider for multi-unit restaurant chains. The deal will combine NovaDine's POS-integrated online and mobile ordering, catering and delivery capabilities with Lunchbox's broader ordering, loyalty and marketing suite to expand Lunchbox's enterprise offerings and accelerate geographic growth.