Tracked deals
93
93 tracked deals across 2025.
Restaurants & Hospitality Acquisitions in 2025
Buyer mix
Mixed buyer set
65 strategic · 43 pe
Top trend
Volume peaked in 2024
99 tracked deals announced in 2024.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| RCI Hospitality Holdings, Inc. | 3 | Operator of adult nightclubs and sports bars/restaurants ... | Strategic |
| Arcis Golf | 2 | Owner and operator of private, resort, and daily‑fee golf... | Strategic |
| H.I.G. Capital | 2 | Global alternative investment firm providing equity and d... | PE |
| L Catterton | 2 | Global consumer-focused private equity firm investing in ... | PE |
| Proof of the Pudding | 2 | Provider of food service, venue management and premium ev... | Strategic (PE-backed) |
| Aethos | 1 | Lifestyle hospitality brand operating boutique hotels, re... | Strategic |
| An affiliate of The Resolute Fund VI, L.P. | 1 | A private equity fund (Resolute Fund VI) used to invest i... | PE |
| Areas USA | 1 | U.S. division of Areas, a global travel hospitality opera... | Strategic |
| Authentic Restaurant Brands | 1 | Partnership platform that acquires and scales regional re... | Strategic (PE-backed) |
| BR Investments | 1 | Private real estate investor / property acquisition partn... | Investor |
Acquisition Volume in Restaurants & Hospitality in 2025 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
September 9, 2025
- Buyer
- Tsunami Express Car Wash
- Target
- 53 Take 5 Car Wash locations
- Seller
- Whistle Express Car Wash
- Industry
- Restaurants & Hospitality
- Location
- Wisconsin, United States
- Type
- Buyout
Tsunami Express Car Wash has closed its acquisition of 53 Take 5 Car Wash locations from Whistle Express Car Wash. The deal expands Tsunami’s Midwest footprint to 74 locations across nine states and includes rebranding and operational integration under the Tsunami CleanTech experience.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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).
-
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.
-
August 7, 2025
- Buyer
- L Catterton
- Target
- Dishoom
- Industry
- Restaurants & Hospitality
- Location
- England, United Kingdom
- Type
- Growth capital
L Catterton has made a minority growth investment in UK restaurant group Dishoom, marking the business’s first outside capital. The funding will support Dishoom’s continued UK expansion and its planned US opening in 2026 while leaving day-to-day operations and the current leadership team unchanged.
-
August 6, 2025
- Buyer
- Choice Hotels International
- Target
- Choice Hotels Canada
- Seller
- InnVest Hotels
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Choice Hotels International acquired the remaining 50% stake in Choice Hotels Canada from long-time joint venture partner InnVest Hotels for approximately $112 million, completing the transaction in July 2025. The move converts the Canadian business from a master-franchise model to a direct franchising model to accelerate growth across Canada, expand Choice's full 22-brand owner success system, and consolidate operations under Choice Hotels International leadership.
-
- Buyer
- Pacific General, Kline Hill Partners, TriSpan (USA), LLC
- Target
- NAYA (Naya Group LLC)
- Seller
- Existing TriSpan investors
- Industry
- Restaurants & Hospitality
- Location
- New York, United States
- Type
- Recapitalization
Pacific General led a single-asset continuation vehicle (CV) for Naya Group LLC (NAYA), co-led by Kline Hill Partners with a meaningful reinvestment from TriSpan. The CV provides liquidity to existing TriSpan investors while supplying growth capital to scale the fast-casual Mediterranean brand nationally from its New York base (35 stores across multiple states).
-
- Buyer
- Primetime Fitness, CapitalSpring
- Target
- Carey Ave Development LLC (PacFit Group), AD Fitness LLC
- Seller
- Carey Ave Development LLC (PacFit Group), AD Fitness LLC
- Industry
- Restaurants & Hospitality
- Location
- United States
- Type
- Addon
Primetime Fitness, a leading Crunch Fitness franchisee backed by investor CapitalSpring, acquired 13 Crunch gym locations across New York and New Jersey from franchisees Carey Ave Development LLC (PacFit) and AD Fitness LLC. The deal expands Primetime's portfolio to 36 locations nationwide; the acquired clubs will continue operating under the Crunch brand and will receive upgrades and renovations to enhance member experience.
-
- Buyer
- L Catterton
- Target
- Kisshokichi
- Industry
- Restaurants & Hospitality
- Location
- Japan
- Type
- Buyout
L Catterton, a global consumer-focused private equity firm, has acquired Kisshokichi, the world's largest Kobe beef restaurant chain, which operates around 50 restaurants across Japan. The firm will partner with founder and chairman Kiyomi Akagi and management to accelerate domestic expansion and explore potential overseas growth while leveraging Kisshokichi's centralized processing capabilities and strong unit economics.
-
- Buyer
- Fitness Ventures LLC
- Target
- Crunch Fitness (three Portland, OR locations)
- Industry
- Restaurants & Hospitality
- Location
- Oregon, United States
- Type
- Buyout
Fitness Ventures LLC has acquired three existing Crunch Fitness locations in Portland, Oregon and plans a $75 million investment to build 15 new Crunch 3.0 locations across the market over the next several years. The deal is part of Fitness Ventures' broader expansion strategy to upgrade or relocate smaller-format clubs into larger Crunch 3.0 facilities and grow its footprint in the region.
-
- Buyer
- Levine Leichtman Capital Partners, Shipley management
- Target
- Shipley Do-Nuts
- Seller
- Peak Rock Capital
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Levine Leichtman Capital Partners (LLCP) has partnered with Shipley Do-Nuts management to acquire the Houston-based franchisor from Peak Rock Capital. Shipley, founded in 1936, operates over 375 company-owned and franchised locations across 14 states; financial terms were not disclosed and the company will continue to be led by CEO Flynn Dekker as LLCP pursues accelerated unit growth and geographic expansion.
-
- Buyer
- Compass Group
- Target
- Vermaat Groep B.V.
- Seller
- Bridgepoint
- Industry
- Restaurants & Hospitality
- Location
- Netherlands
- Type
- Buyout
Compass Group has agreed to acquire Vermaat Groep B.V. for approximately €1.5 billion. The deal is intended to strengthen Compass’s premium food services and European growth strategy, with Vermaat continuing to operate independently while leveraging Compass’s network and support.
-
July 23, 2025
- Buyer
- Marriott International
- Target
- citizenM
- Industry
- Restaurants & Hospitality
- Location
- Netherlands
- Type
- Buyout
Marriott International has completed its acquisition of the lifestyle hotel brand citizenM, adding citizenM's global portfolio of 37 open hotels (8,789 rooms) and its near-term pipeline to Marriott's select-service offerings. Marriott will integrate citizenM into its systems and loyalty program to accelerate the brand's global expansion and broaden lodging choices for Marriott Bonvoy members.
-
July 22, 2025
- Buyer
- Legacy Brands International (managed by Amol Kohli)
- Target
- BRIX Holdings, LLC
- Seller
- JAMCO Interests LLC, Existing BRIX ownership
- Industry
- Restaurants & Hospitality
- Location
- Texas, United States
- Type
- Buyout
Legacy Brands International, an investment group managed by multi-unit Friendly's franchisee Amol Kohli, has acquired BRIX Holdings, the Dallas-based multi-brand franchising company that owns Friendly's, Clean Juice, Orange Leaf, Red Mango, Smoothie Factory + Kitchen, Souper Salad and Humble Donut Co. BRIX will remain headquartered in Dallas under CEO Sherif Mityas, with Kohli serving as Chairman and a focus on organic growth, geographic expansion (including targeted growth in Georgia, the Carolinas and Texas) and pursuing additional brand acquisitions.
-
July 2, 2025
- Buyer
- Pursuit Attractions and Hospitality, Inc.
- Target
- Tabacón Thermal Resort & Spa
- Industry
- Restaurants & Hospitality
- Location
- Alajuela, Costa Rica
- Type
- Buyout
Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) has acquired Tabacón Thermal Resort & Spa, a 105-room eco-luxury resort and hot springs destination in the Arenal region of Costa Rica. The transaction marks Pursuit’s entry into Costa Rica and expands its global portfolio of attractions and lodging as part of its growth strategy to build a broader Costa Rica collection and capture year‑round leisure and wellness demand.
-
- Buyer
- Bain Capital North American Private Equity, BCPE Flavor Debt Merger Sub, LLC, BCPE Flavor Issuer, Inc.
- Target
- Sizzling Platter, LLC
- Seller
- CapitalSpring
- Industry
- Restaurants & Hospitality
- Location
- Utah, United States
- Type
- Buyout
Sizzling Platter, LLC partnered with Bain Capital North American Private Equity to accelerate its expansion. Bain Capital Private Equity is acquiring Sizzling Platter from CapitalSpring, with financing that includes a $500 million senior secured notes offering expected to close on July 2, 2025.
-
- Buyer
- TJC, L.P., An affiliate of The Resolute Fund VI, L.P.
- Target
- Wedgewood Hospitality Group, Inc. (Wedgewood Weddings)
- Seller
- Prospect Partners
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Type
- Buyout
TJC, L.P. (via an affiliate of The Resolute Fund VI, L.P.) has acquired Wedgewood Hospitality Group, Inc. (Wedgewood Weddings) from Prospect Partners. Wedgewood, a Temecula, California–based operator of over 75 wedding venues across eight states with ~2,000 employees, will remain led by CEO Bill Zaruka and will use the new investor resources to support organic growth, new venue openings and operational improvements.
-
- Buyer
- Thompson Street Capital Partners
- Target
- Bubbakoo's Burritos
- Industry
- Restaurants & Hospitality
- Location
- New Jersey, United States
- Type
- Buyout
Thompson Street Capital Partners (TSCP), a St. Louis-based private equity firm, has acquired Bubbakoo's Burritos, a New Jersey-based fast-casual Mexican-fusion franchisor with more than 130 locations across 15 states. TSCP plans to support the brand's next phase of growth by investing in technology, brand development, infrastructure, and franchisee support systems; terms were not disclosed.
-
- Buyer
- CVC Capital Partners, Therme Group
- Target
- Therme Erding, Therme Bucharest, Therme Manchester (development)
- Industry
- Restaurants & Hospitality
- Location
- Bavaria, Germany
- Type
- Growth capital
Therme Group and CVC Capital Partners announced a strategic joint venture, Therme Horizon, in a deal valued at over €1 billion that will see the partners become equal owners of a new holding company anchored by Therme Erding (Germany) and Therme Bucharest (Romania). CVC will also co-invest in the development of Therme Manchester, with closing expected in the second half of 2025 subject to regulatory approvals.
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- Buyer
- RCI Hospitality Holdings, Inc.
- Target
- Platinum Plus Gentlemen's Club
- Industry
- Restaurants & Hospitality
- Location
- Pennsylvania, United States
- Type
- Buyout
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) closed the acquisition of Platinum Plus Gentlemen's Club in Allentown, Pennsylvania for $2.0 million ( $1.5M cash and $0.5M seller financing). The 15,000-square-foot club will operate under RCI's nightclub portfolio and expand the company's presence in the Northeastern U.S.; executive management from the acquired club will remain in place.
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