Recent Restaurants & Hospitality Acquisitions
Acquisition Volume in Restaurants & Hospitality by Year
Last 5 years
This page highlights recent acquisitions across the Restaurants & Hospitality sector, spanning restaurants, franchised multi-unit portfolios, vacation rentals, RV resorts, luxury travel platforms and airport concessions. Transactions feature a mix of strategic restaurant operators, investor-backed platform builds and local multi-unit buyers.
Buyers range from strategic operators like Foodtastic and Wonder to private equity and investor groups such as Crestview Partners and Exclusive Investments, LLC. Examples on the page include platform roll-ups (e.g., Expedition:Earth acquiring EXPLORE, Inc.), portfolio lodging deals (e.g., Streamside Parks purchasing seven RV resorts), and franchise or multi-unit purchases by local owners (e.g., Jack Omer and OneRyan Global LLC).
What Stands Out
- Mix of buyer types: strategic restaurant groups, family offices and franchisees, investor-backed platforms, and private equity sponsors (recurring buyers listed include Clairvest Group Inc., Arcis Golf, Alterra Mountain Company, among others).
- Platform and roll-up activity: acquisitions used to build multi-brand or technology-enabled platforms (for example, Expedition:Earth’s purchase of EXPLORE, Inc. and StayTerra’s investment in Vacation Homes of Hilton Head).
- Scale and portfolio transactions: deals range from single-unit or small multi-unit franchise buys to larger portfolio purchases — notable examples are Streamside Parks’ $97 million purchase of seven RV resorts and Exclusive Investments, LLC’s ~ $59 million take-private of Inspirato Incorporated.
- Diverse subsectors: transactions cover casual and chef-driven restaurants, coffee roasters, vacation rental/property management, RV resorts and airport concessions (examples include Boomtown Coffee, Blue Ribbon Fried Chicken, Vacation Homes of Hilton Head, and Tailwind Hospitality, Inc.).
- Geographic spread: recent events are located across the United States (including Illinois, Colorado, New York, Texas, Indiana, Ohio, North Carolina and South Carolina) and Canada (Alberta).
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March 19, 2026
- Buyer
- Suchad Chiaranussati, SC Capital Partners, Hotel Management Japan (HMJ), Topotels Hotels & Resorts
- Target
- Fusion Hotel Group
- Industry
- Restaurants & Hospitality
- Location
- Vietnam
- Type
- Buyout
Fusion Hotel Group, a Vietnam-based wellness hospitality brand and management company, has been acquired by Suchad Chiaranussati, founder and chairman of SC Capital Partners. The acquisition is intended to help build a scaled pan-Asian hotel management platform by integrating Fusion with Chiaranussati’s other hospitality holdings, including Hotel Management Japan and Topotels Hotels & Resorts.
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February 26, 2026
- Buyer
- a21
- Target
- Two12
- Industry
- Restaurants & Hospitality
- Location
- Illinois, United States
- Type
- Growth capital
a21 has acquired an equity stake in Two12, the culinary-focused talent management company founded by Scott R. Feldman, forming a strategic partnership to integrate talent representation with a21’s event production, marketing, and brand partnership capabilities. Paradigm Talent Agency will continue to support Two12, and the alliance will immediately extend across a21’s portfolio of food- and wine-focused events and planned touring platforms to expand opportunities across food, beverage, hospitality, and media.
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February 19, 2026
- Buyer
- Foodtastic
- Target
- Central Social Hall
- Industry
- Restaurants & Hospitality
- Location
- Alberta, Canada
- Type
- Buyout
Foodtastic has acquired Central Social Hall, a premium casual dining and social hall brand founded in 2012 and operating two locations in Edmonton. The acquisition expands Foodtastic’s portfolio of Canadian restaurant banners and positions Central Social Hall for a staged roll-out across Alberta and other Canadian provinces.
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February 19, 2026
- Buyer
- Streamside Parks
- Target
- Verde River RV Resort & Cottages, Indian Waters RV Resort, Fayetteville RV Resort and Cottages, Raleigh Oaks RV Resort and Cottages, Twin Grove RV Resort & Cottages, Americamps RV Resort & Cottages, VA North Landing Beach RV Resort & Cottages
- Industry
- Restaurants & Hospitality
- Location
- United States
- Type
- Addon
Nashville-based Streamside Parks acquired a $97 million portfolio of seven premium RV resorts across five states, adding 1,562 RV sites to its platform. The deal expands Streamside's footprint into new markets and brings the company's portfolio to 37 resorts and campgrounds (more than 4,200 RV sites) across 16 states.
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February 12, 2026
- Buyer
- Expedition:Earth, Providence Investment Partners
- Target
- EXPLORE, Inc.
- Industry
- Restaurants & Hospitality
- Location
- Colorado, United States
- Type
- Buyout
Expedition:Earth, a new Texas-based multi-brand operator, announced a strategic investment to acquire EXPLORE, Inc., a Steamboat Springs, Colorado-based luxury tour operator specializing in custom travel throughout Africa and select global destinations. Providence Investment Partners provided debt and equity financing to support the transaction, which serves as Expedition:Earth's inaugural platform acquisition under its buy-and-build growth strategy to expand capabilities, distribution and technology while preserving EXPLORE's founder-led culture.
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February 10, 2026
- Buyer
- Wonder
- Target
- Blue Ribbon Fried Chicken
- Seller
- Blue Ribbon Restaurants
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
Wonder has acquired the Blue Ribbon Fried Chicken brand and its East Village restaurant from Blue Ribbon Restaurants, taking ownership of the concept, its physical Manhattan location and current employees. Wonder plans to keep the East Village location operating as usual while leveraging its mealtime platform to scale the chef-driven fast-casual concept to additional Wonder locations and channels over time.
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February 10, 2026
- Buyer
- Different Hospitality
- Target
- Boomtown Coffee
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Different Hospitality, a newly formed Houston hospitality group founded by Charlie McIntyre, has acquired local specialty roaster Boomtown Coffee. The deal, brokered by Transworld Business Advisors of South & West Texas, was described as values-aligned with terms undisclosed and aims to preserve Boomtown's brand, leadership and existing cafes while providing operational support and long-term stability.
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- Buyer
- Jack Omer
- Target
- Lee's Famous Recipe Chicken (five Indiana franchise units - Connersville, Muncie, Richmond, New Castle and one additional Indiana unit)
- Industry
- Restaurants & Hospitality
- Location
- Indiana, United States
- Type
- Addon
Jack Omer, grandson of Lee's co-founder Harold Omer, has acquired five existing Lee's Famous Recipe Chicken franchise restaurants across Indiana, including units in Connersville, Muncie and Richmond (and an earlier purchase in New Castle). The acquisitions are part of a multi-unit growth strategy that includes remodels to update locations to current brand standards and expand the franchisee's footprint in central Indiana.
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February 2, 2026
- Buyer
- Crestview Partners, AltitudeX Aviation Group, Members of Tailwind's existing management team
- Target
- Tailwind Hospitality, Inc.
- Seller
- Palladin Consumer Retail Partners
- Industry
- Restaurants & Hospitality
- Location
- North Carolina, United States
- Type
- Buyout
Crestview Partners has acquired Tailwind Hospitality, an airport concessions operator, from Palladin Consumer Retail Partners. Crestview is investing alongside AltitudeX Aviation Group and members of Tailwind’s management; Tailwind will remain led by CEO Jeff Switzer and will pursue further organic and acquisition-driven expansion across U.S. airports.
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January 21, 2026
- Buyer
- StayTerra, Garnett Station Partners, Bessemer Venture Partners
- Target
- Vacation Homes of Hilton Head
- Industry
- Restaurants & Hospitality
- Location
- South Carolina, United States
- Type
- Addon
StayTerra, a vacation rental platform backed by Garnett Station Partners and Bessemer Venture Partners, announced an investment in Vacation Homes of Hilton Head (VHHH), a luxury property management and vacation rental operator on Hilton Head Island, South Carolina. The deal expands StayTerra's portfolio into the southeastern Atlantic coast and positions VHHH for growth leveraging StayTerra's technology, customer service capabilities and growth capital.
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January 21, 2026
- Buyer
- OneRyan Global LLC
- Target
- Mr Gatti's Pizza
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Dallas-based OneRyan Global LLC, the family office of G. Brint Ryan, has acquired a controlling interest in Mr Gatti's Pizza. The transaction builds on OneRyan’s prior purchases of corporate locations and positions the company to continue franchising and brand growth while retaining the existing senior management team; terms were not disclosed.
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January 20, 2026
- Buyer
- Northland Properties
- Target
- Denny's Canada (Canadian trademarks, intellectual property and exclusive rights)
- Seller
- Denny's Inc.
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Northland Properties has acquired the trademarks, intellectual property and exclusive rights to the Denny's brand in Canada, consolidating full control of the chain after more than three decades as its master franchisor. The transaction also includes an equity stake in Denny's Inc., positioning Northland to align with the global brand while pursuing Canadian-specific growth and operational strategies for the network of ~85 restaurants employing over 3,500 people.
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January 16, 2026
- Buyer
- TriArtisan Capital Advisors LLC, Treville Capital Group LLC, Yadav Enterprises, Inc.
- Target
- Denny's Corporation
- Industry
- Restaurants & Hospitality
- Location
- United States
- Type
- Buyout
Denny’s Corporation completed its previously announced acquisition by a consortium led by TriArtisan Capital Advisors, along with Treville Capital Group and franchisee Yadav Enterprises. The $620 million all-cash transaction took Denny’s private and resulted in Denny’s common stock ceasing to trade on Nasdaq as of January 16, 2026.
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January 15, 2026
- Buyer
- Kasa, Silver Lake Waterman
- Target
- Mint House
- Seller
- Mint House shareholders (including Mohari Hospitality and Revolution Ventures)
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
Kasa has acquired Mint House in an all-equity transaction, integrating Mint House's portfolio (roughly 22 properties / nearly 1,000 residential hospitality units) into Kasa's platform to create the largest U.S. operator of apartment-style and traditional hotels. The deal follows a $40 million investment from Silver Lake Waterman backing Kasa and is intended to drive scale, cost efficiencies and improved commercial performance across distribution, revenue management and guest engagement.
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January 14, 2026
- Buyer
- Resident
- Target
- BLACE
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Buyout
Resident, a New York–based culinary and experiential hospitality platform, has acquired BLACE, a venue and vendor booking platform operating in New York City and Los Angeles. The acquisition expands Resident’s asset-light hospitality capabilities and enterprise product offering, enabling the company to offer large-format venues and launch culinary experiences in Los Angeles through BLACE’s network.
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January 12, 2026
- Buyer
- Arrivia
- Target
- Bon Voyage Travel
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Arrivia, a global travel loyalty and technology company, has acquired Bon Voyage Travel, a luxury-focused, advisor-led travel agency. The deal preserves Bon Voyage Travel's brand and leadership (President Ryan Hansen remains in place; founder Peter Evans will serve in an advisory role) and is intended to strengthen Arrivia's presence in the premium and luxury cruise market; financial terms were not disclosed.
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December 23, 2025
- Buyer
- Carlyle Asia Partners
- Target
- KFC Korea
- Industry
- Restaurants & Hospitality
- Location
- South Korea
- Type
- Buyout
Carlyle Asia Partners, through an affiliated entity, has entered into a definitive agreement to acquire a 100% stake in KFC Korea. The deal aims to support KFC Korea’s next phase of growth in South Korea by partnering with management to accelerate new store openings, strengthen marketing, and drive menu innovation.
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December 18, 2025
- Buyer
- Jack Omer
- Target
- Lee's Famous Recipe Chicken (New Castle, Indiana franchise location), Five Lee's Famous Recipe Chicken franchise locations in Indiana (multi‑unit acquisition)
- Seller
- Mike Fort
- Industry
- Restaurants & Hospitality
- Location
- Indiana, United States
- Type
- Buyout
Jack Omer, a third‑generation member of the Lee's Famous Recipe Chicken family, acquired the New Castle, Indiana Lee's franchise location from longtime franchisee Mike Fort and signed a development agreement to open multiple new locations in the greater Indianapolis area. Subsequent reporting indicates Omer completed a multi‑unit acquisition of five Lee's franchise locations in Indiana as part of a broader multi‑unit growth and geographic expansion plan.
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December 17, 2025
- Buyer
- White Rhino Coffee
- Target
- Emporium Pies
- Seller
- Landon Perdue, Jen Abohosh, Addie Roberts
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Dallas-based White Rhino Coffee has acquired Emporium Pies, with Emporium Pies continuing to operate under its own brand and core baking staff remaining in place. White Rhino plans to explore expanding Emporium Pies across the Dallas–Fort Worth area and roll out integrated menu collaborations such as coffee-and-pie pairings.
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December 17, 2025
- Buyer
- Wedgewood Weddings & Events
- Target
- Primrose Cottage, Flint Hill, The Atrium, Vinewood Stables, Natalie House, A Divine Event
- Seller
- Magic Moments
- Industry
- Restaurants & Hospitality
- Location
- Georgia, United States
- Type
- Addon
Wedgewood Weddings & Events has acquired five Atlanta-area venues — Primrose Cottage (Roswell), Flint Hill (Norcross), The Atrium (Norcross), Vinewood Stables (Newnan) and Natalie House (Lawrenceville) — from Magic Moments and is integrating the A Divine Event design studio into its model. The deal expands Wedgewood’s portfolio to more than 80 venues across nine states and brings local design and catering capabilities into its all-inclusive wedding venue offering.
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December 16, 2025
- Buyer
- Pickleball Kingdom
- Target
- The Pickle Jar
- Industry
- Restaurants & Hospitality
- Location
- New Jersey, United States
- Type
- Buyout
Pickleball Kingdom, the premier indoor pickleball franchisor, has acquired The Pickle Jar, an eight-court indoor pickleball club at 315 Roycefield Rd in Hillsborough Township, New Jersey. The location will be converted into Pickleball Kingdom Hillsborough and operated by franchisees Yashraj Kurani and Dip Jadawala as part of the brand's ongoing New Jersey expansion.
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December 16, 2025
- Buyer
- H.I.G. Capital
- Target
- Shore Excursions Group, LLC
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Type
- Buyout
H.I.G. Capital, through an affiliate, has completed the acquisition of Shore Excursions Group, the world's largest independent provider of onshore tours and excursions for cruise passengers. Founded in 2008 and headquartered near Fort Lauderdale, Shore Excursions Group coordinates over 4,000 tours across roughly 350 ports and has delivered more than five million tours via travel-agency and direct channels. Marathon Asset Management and Webster Bank arranged a senior-secured credit facility to support H.I.G.'s acquisition and future growth plans.
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December 3, 2025
- Buyer
- Proof of the Pudding
- Target
- RS3 Strategic Hospitality
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Atlanta-based Proof of the Pudding has acquired RS3 Strategic Hospitality, a Round Rock, Texas–based provider of food and beverage services for sports, entertainment and event venues. The deal expands Proof of the Pudding's national sports and entertainment footprint, strengthens its partnerships in Texas and other key markets, and preserves RS3's brand and leadership team.
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December 2, 2025
- Buyer
- Areas USA
- Target
- Travel Hospitality Services (THS)
- Seller
- Delaware North
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Divestiture
Areas has completed the acquisition of Delaware North’s Travel Hospitality Services (THS), adding 237 outlets across 22 U.S. airports and more than 4,000 team members. The deal (a divestiture of a Delaware North business unit to Areas USA) expands Areas’ U.S. footprint and scale in travel food & retail, with THS generating over $500 million in annual revenue and significantly increasing Areas USA’s locations and workforce.
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December 1, 2025
- Buyer
- Waterford Hotel Group, Maverick Hotels & Restaurants
- Target
- Waterford Hotel Group, Maverick Hotels & Restaurants
- Industry
- Restaurants & Hospitality
- Location
- United States
- Type
- Buyout
Waterford Hotel Group and Maverick Hotels & Restaurants have merged to create a combined hospitality management platform with a portfolio of more than 50 properties. The strategic merger expands geographic reach (adding strength in the Midwest and Chicago market), broadens brand mix across Marriott and Hilton properties and boutique inns, and positions the combined company for accelerated growth and development activity.
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November 17, 2025
- Buyer
- Bain Capital
- Target
- Concert Golf Partners
- Seller
- Clearlake Capital Group
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Type
- Buyout
Bain Capital has invested in Concert Golf Partners as Clearlake Capital completes its exit; terms were not disclosed. Concert Golf, an owner-operator of 39 private golf and country clubs headquartered in Lake Mary, Florida, will be supported by Bain's Private Equity and Real Estate teams to continue platform growth and investment in club amenities.
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November 13, 2025
- Buyer
- TSG Consumer (TSG Consumer Partners)
- Target
- Pura Vida Miami
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Type
- Growth capital
TSG Consumer (TSG Consumer Partners) has made a strategic minority growth investment in Pura Vida Miami to accelerate the premium health-and-wellness café's nationwide expansion. Co‑founders Omer and Jennifer Horev retain majority ownership and will continue to lead the business as it scales from more than 40 locations across Florida, New York City and Southern California.
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- Buyer
- CPE
- Target
- Burger King China (newly formed Burger King China entity)
- Industry
- Restaurants & Hospitality
- Location
- China
- Type
- Growth capital
Restaurant Brands International (RBI) announced a joint venture with Chinese investment firm CPE in which CPE will invest $350 million to expand Burger King China from about 1,250 restaurants to more than 4,000 by 2035. After closing (expected in Q1 2026 subject to regulatory approvals), CPE will hold 83% of the newly formed Burger King China entity, while RBI will retain about 17% and a board seat.
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October 30, 2025
- Buyer
- Petroglyph Development Group (PDG), Snuneymuxw First Nation
- Target
- River Rock Casino Resort, Chances Maple Ridge
- Seller
- Great Canadian Entertainment
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Petroglyph Development Group (PDG), wholly owned by Snuneymuxw First Nation, and Great Canadian Entertainment entered into definitive agreements for PDG to purchase two casino businesses: River Rock Casino Resort and Chances Maple Ridge. Closing is subject to regulatory and other approvals, after which PDG expects to become one of the largest casino operators by revenue in British Columbia and the largest Canadian Indigenous-owned gaming operator by revenue in Canada.
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October 29, 2025
- Buyer
- Uncommon Equity LLC, Saxonwold Capital
- Target
- Project BarFly, LLC (d/b/a HopCat), HopCat
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
Chicago-based private investment firm Uncommon Equity LLC has acquired Grand Rapids-based Project BarFly, LLC, which does business as HopCat, a regional casual dining and craft-beer restaurant group operating 12 Michigan locations and one in Lincoln, Nebraska. Financial terms were not disclosed; senior debt was provided by OakNorth Bank PLC and Rob Selati will participate as a strategic investor through Saxonwold Capital as part of the new ownership group.
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October 15, 2025
- Buyer
- Strategic Gaming Management, LLC, Gaming and Leisure Properties, Inc. (GLPI)
- Target
- Sunland Park Racetrack & Casino
- Industry
- Restaurants & Hospitality
- Location
- New Mexico, United States
- Type
- Buyout
Strategic Gaming Management, LLC (SGM) has completed the acquisition of Sunland Park Racetrack & Casino for $301 million. Immediately following closing, SGM sold the real property to Gaming and Leisure Properties, Inc. (GLPI) in a sale‑leaseback; the deal expands SGM's portfolio of regional gaming assets and adds a leading New Mexico racetrack and casino.
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October 14, 2025
- Buyer
- CP Wolf Ventures, LLC
- Target
- Boardroom (three corporate salon locations in Tulsa and Oklahoma City)
- Seller
- Boardroom
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Divestiture
Boardroom has closed an area development agreement with CP Wolf Ventures, LLC under which CP Wolf acquires three corporate Boardroom salon locations in Tulsa and Oklahoma City and will develop five additional locations (three in Texas and two in Oklahoma). The CP Wolf franchise group, led by Paul and Caren Wolf of Southlake, Texas, will expand from one to nine locations and deepen Boardroom's franchise footprint as the brand continues franchising growth across the United States.
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October 8, 2025
- Buyer
- Wonder Franchises, Tucker's Farm Corporation
- Target
- Soccer 5
- Seller
- Alan Georgeson, Scott Georgeson
- Industry
- Restaurants & Hospitality
- Location
- Florida, United States
- Type
- Addon
Wonder Franchises, the franchisor platform of Tucker's Farm Corporation, has acquired Soccer 5, a small-sided soccer facility brand founded by Alan and Scott Georgeson. The Georgesons retain meaningful ownership and will remain in leadership while Wonder aims to expand Soccer 5's corporate-unit footprint and franchise system across the U.S., with a focus on municipal expansion and Southeast growth.
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October 6, 2025
- Buyer
- Proof of the Pudding
- Target
- Gil's Elegant Catering
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Addon
Proof of the Pudding, an Atlanta-based premium catering and hospitality operator, has expanded into the Dallas market by acquiring Gil's Elegant Catering. The deal brings Gil's off‑premise corporate and social event catering capabilities into Proof of the Pudding's national platform as the company continues geographic expansion following prior investments and acquisitions.
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October 2, 2025
- Buyer
- The Bay Club Company
- Target
- Griffin Club Los Angeles
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Type
- Buyout
The Bay Club Company has acquired Griffin Club Los Angeles, adding the historic racquet, athletic, aquatic, and social club to its Los Angeles Campus. The purchase expands Bay Club's West Coast portfolio and strengthens its member-focused fitness, wellness, and hospitality offerings in the Los Angeles market.
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September 24, 2025
- Buyer
- NEXUS Luxury Collection
- Target
- Purple Dragon
- Industry
- Restaurants & Hospitality
- Location
- England, United Kingdom
- Type
- Buyout
NEXUS Luxury Collection has acquired a majority stake in Purple Dragon, the family-focused private members club, to expand Purple Dragon’s footprint into NEXUS venues and launch new clubs in London, New York, Saint-Tropez and The Bahamas. The deal creates a global membership passport and will debut The Outpost at NEXUS Club London plus new Purple Dragon locations including Studio Club Tribeca and a Super Club at ALBANY in The Bahamas.
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September 22, 2025
- Buyer
- OneRyan Global LLC
- Target
- Mr Gatti's Pizza
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Growth capital
OneRyan Global LLC, the family office of G. Brint Ryan, has taken a minority stake in Mr Gatti's Pizza, continuing its investment and operational involvement with the brand that began in 2022. Mr Gatti's Pizza, headquartered in Fort Worth, Texas, operates more than 230 restaurants and the investment is intended to support the brand's growth and deepen OneRyan's operational role.
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September 22, 2025
- Buyer
- Eyas Capital
- Target
- BOJ of WNC LLC
- Seller
- Jeff Rigsby
- Industry
- Restaurants & Hospitality
- Location
- North Carolina, United States
- Type
- Buyout
Eyas Capital has acquired BOJ of WNC LLC, the largest Bojangles franchisee group led by Jeff Rigsby, in a deal that includes a portfolio of 120 locations across six states. Eyas plans to expand the Bojangles footprint in the Cincinnati and Columbus markets and integrate the brand into its hospitality investment portfolio.
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September 18, 2025
- Buyer
- Tacala
- Target
- Brew Team TN (nine 7 Brew locations)
- Seller
- Brew Team TN
- Industry
- Restaurants & Hospitality
- Location
- Tennessee, United States
- Type
- Divestiture
Birmingham-based Tacala acquired nine 7 Brew drive-thru cafes from Brew Team TN in Tennessee, increasing its 7 Brew portfolio to 31 locations. Tacala, a portfolio company of Altamont Capital Partners and the largest Taco Bell franchisee in the U.S., continues to expand its quick-service footprint while focusing on managing its Taco Bell and 7 Brew businesses.
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September 10, 2025
- Buyer
- RaceTrac
- Target
- Potbelly
- Industry
- Restaurants & Hospitality
- Location
- Illinois, United States
- Type
- Buyout
RaceTrac, a convenience store operator headquartered in Atlanta, has agreed to acquire Potbelly, the sandwich shop chain founded in Chicago, in an approximately $566 million all-cash transaction. The deal will be structured as a tender offer through a wholly owned subsidiary, and is expected to close in the fourth quarter of 2025 pending regulatory approvals and customary closing conditions.
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September 9, 2025
- Buyer
- Larsen MacColl Partners, Dave Magrogan
- Target
- Mac & Bob's
- Industry
- Restaurants & Hospitality
- Location
- Virginia, United States
- Type
- Buyout
Larsen MacColl Partners (LMP) acquired Mac & Bob's, a full-service restaurant headquartered in Salem, Virginia; the transaction closed on August 6, 2025. LMP partnered with long-time restaurant operator Dave Magrogan to manage and grow the business, and Generational Group served as lead advisor to Mac & Bob's.
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September 4, 2025
- Buyer
- Meauxmentum Strategies & Investments (MSI), Dallas Chicks, LLC
- Target
- Chicken Salad Chick (five Dallas locations)
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Addon
Meauxmentum Strategies & Investments (MSI) acquired five Chicken Salad Chick locations in the Dallas market, expanding its Chicken Salad Chick portfolio to 21 restaurants across Texas, Oklahoma, and Indiana. The deal strengthens MSI's position as a leading franchisee in Dallas and supports further market development, catering growth, and community engagement.
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September 4, 2025
- Buyer
- McWin Capital Partners, TriSpan
- Target
- Flat Iron (FI Holdings Limited)
- Seller
- Piper
- Industry
- Restaurants & Hospitality
- Location
- England, United Kingdom
- Type
- Buyout
McWin Capital Partners' McWin Foodservice Fund and TriSpan's Rising Stars Programme have jointly secured a co-control majority investment in FI Holdings Limited (Flat Iron), a UK steak restaurant chain with 18 locations. Piper, the prior specialist investor, is exiting; Flat Iron CEO Tom Byng will remain to lead the business as the new investors back expansion across the UK and the start of international growth.
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September 4, 2025
- Buyer
- Rhône
- Target
- Freddy's Frozen Custard & Steakburgers
- Seller
- Thompson Street Capital Partners
- Industry
- Restaurants & Hospitality
- Location
- Kansas, United States
- Type
- Buyout
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.
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September 3, 2025
- Buyer
- Phoenix3 Collective (formerly Phoenix3 Holdings)
- Target
- Quality Culinary Solutions (QCS)
- Industry
- Restaurants & Hospitality
- Location
- Wisconsin, United States
- Type
- Addon
Phoenix3 Collective (formerly Phoenix3 Holdings) has rebranded and acquired Quality Culinary Solutions (QCS), a culinary advisory firm serving self-operated senior living communities, to expand its portfolio of boutique dining and hospitality businesses. The acquisition strengthens Phoenix3’s capabilities in senior-living culinary advisory as it continues to operate and scale a collection of hospitality brands serving senior living, corporate, healthcare, and education sectors.
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September 3, 2025
- Buyer
- TBO.com (Travel Boutique Online)
- Target
- Classic Vacations
- Seller
- Najafi Companies
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Type
- Buyout
India-based travel distribution platform TBO.com (Travel Boutique Online) has acquired U.S. luxury travel wholesaler Classic Vacations from Najafi Companies for $125 million. Classic Vacations reported approximately $111 million of revenue and $11 million of EBITDA in 2024; the deal brings Classic Vacations' luxury travel advisor network and supplier relationships onto TBO's technology-driven distribution platform as part of TBO's North American expansion.
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August 27, 2025
- Buyer
- Five Iron Golf
- Target
- Golf the Green
- Industry
- Restaurants & Hospitality
- Location
- Illinois, United States
- Type
- Addon
Five Iron Golf has acquired the indoor golf business Golf the Green in Bucktown, Chicago and reopened the venue under the Five Iron brand, marking the company’s fourth Chicago location. The acquisition expands Five Iron’s local footprint and integrates a nine-simulator venue into its technology-driven, hospitality-focused indoor golf network.
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August 26, 2025
- Buyer
- Salt Creek Capital
- Target
- Infinity RRGB Ventures, Inc.
- Seller
- Sudhir Santos
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired Infinity RRGB Ventures, Inc., the exclusive Canadian franchisee and operator of Red Robin restaurants in British Columbia. The transaction transfers ownership from longtime owner Sudhir Santos while keeping CEO Jamie Reeves and the existing management team in place to drive future growth across Infinity's 11 locations.
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- Buyer
- Breakwater, BR Investments
- Target
- Ramada Hotel (Downtown Augusta)
- Industry
- Restaurants & Hospitality
- Location
- Georgia, United States
- Type
- Buyout
Breakwater, through an affiliate, partnered with BR Investments to acquire the 175-room Ramada Hotel in downtown Augusta, Georgia. The buyers plan a comprehensive renovation and rebrand into a premium soft-branded hotel, led by The Gettys Group (branding/interior) and Rabun Architects (architecture).
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August 8, 2025
- Target
- Willie's Grill & Icehouse
- Seller
- CIC Partners
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Divestiture
CIC Partners has completed the sale of Willie's Grill & Icehouse, a Houston-based fast-casual restaurant chain operating 21 locations across Central Texas. The Q2 2025 transaction was announced by CIC but the buyer and financial terms were not disclosed.
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Frequently Asked Questions
What kinds of buyers are active in this sector?
Active buyers include strategic restaurant operators (e.g., Foodtastic, Wonder), private equity and investment firms (e.g., Crestview Partners, Exclusive Investments, LLC), platform builders and VC-backed operators (e.g., StayTerra, Expedition:Earth), family offices and local multi-unit owners (e.g., OneRyan Global LLC, Jack Omer).
Are transactions limited to restaurants?
No. Transactions on this page cover restaurants and food concepts as well as adjacent hospitality subsectors: RV and campground portfolios, vacation rental/property management, luxury travel platforms and airport concessions (examples include Streamside Parks, Vacation Homes of Hilton Head, Inspirato, and Tailwind Hospitality, Inc.).
What are common strategic motives behind these deals?
Deal motives include geographic and banner expansion, franchising and multi-unit consolidation, platform build-outs (scale, technology and distribution), and operational stabilization—often with an emphasis on preserving brand or founder-led elements where noted (for example, Expedition:Earth preserving EXPLORE, Inc.’s founder-led culture).
Do deal sizes and targets vary widely?
Yes. The page shows a broad range: single-brand and single-location takeovers, multi-unit franchise purchases, and larger portfolio or platform transactions — from local café and franchise acquisitions to portfolio deals like Streamside Parks’ $97 million RV-resort purchase and Exclusive Investments, LLC’s ~$59 million acquisition of Inspirato Incorporated.