Restaurants & Hospitality Buyers & Acquisitions in Kentucky

• Yum! Brands to Sell Pizza Hut (Ex-China) to LongRange Capital and Pizza Hut China to Yum China

  June 16, 2026

  Buyer

  LongRange Capital, Yum China Holdings, Inc.

  Target

  Pizza Hut (excluding Mainland China), Pizza Hut in Mainland China (Pizza Hut China)

  Seller

  Yum! Brands, Inc.

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Divestiture

  Yum! Brands entered into definitive agreements to sell Pizza Hut for $2.7 billion in total: Pizza Hut excluding Mainland China to LongRange Capital for about $1.5 billion (plus a potential $75 million earn-out by 2030) and Pizza Hut in Mainland China to Yum China Holdings for about $1.2 billion. The transactions are expected to close in the third quarter of 2026, subject to customary regulatory approvals, and will make Yum! stop reporting Pizza Hut as a separate operating division.

• Court Square Makes Strategic Growth Investment in Five Star Parks & Attractions

  March 16, 2023

  Buyer

  Court Square Capital Partners

  Target

  Five Star Parks & Attractions

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Growth capital

  Court Square Capital Partners has made a strategic capital (growth) investment in Five Star Parks & Attractions to support the company's expansion and optimization of its family entertainment center portfolio. Terms were not disclosed; existing shareholders Fruition Partners, Taubman Capital, and management will remain significant minority investors.

• Orangewood Partners Sells Kentucky-Based Taco Bell Franchisee ABTB

  February 1, 2023

  Target

  ABTB

  Seller

  Orangewood Partners, Southpaw

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Divestiture

  Orangewood Partners announced the divestiture of its Kentucky-based Taco Bell franchisee, ABTB. Financial terms were not disclosed; ABTB was formed in 2018 in partnership with Southpaw and grew to operate ~39 Taco Bell locations in the Greater Louisville, Kentucky market before the exit.

• PG Growth Opportunities Fund I Acquires Wild Eggs

  January 18, 2023

  Buyer

  PG Growth Opportunities Fund I

  Target

  Wild Eggs

  Seller

  Patoka Capital, Chance Ragains

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Buyout

  Miami-based investment group PG Growth Opportunities Fund I (PGOF I) purchased Louisville-based Wild Eggs from Patoka Capital, acquiring the concept and ownership of its 15 locations across Kentucky, Indiana and Ohio. PGOF I plans to keep Wild Eggs' Louisville headquarters and current leadership in place while pursuing regional franchise growth with an initial focus on Lexington, Cincinnati and Indianapolis and an eventual nationwide rollout.

• Houchens Industries Acquires 10 Slim Chickens Franchise Locations and Kentucky Development Rights from Harold Wallace Group

  September 26, 2022

  Buyer

  Houchens Industries

  Target

  Slim Chickens franchise portfolio (group led by Harold Wallace)

  Seller

  Group led by franchisee Harold Wallace

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Buyout

  Bowling Green-based Houchens Industries acquired 10 operating Slim Chickens franchise locations and the rights to develop 29 additional Slim Chickens sites across Kentucky from a group led by Tennessee franchisee Harold Wallace. The deal expands Houchens’ Slim Chickens footprint to a total of 42 locations and supports the company’s broader restaurant franchising growth in Kentucky.

• Five Star Parks & Attractions Acquires Malibu Jack's Locations in Kentucky

  July 27, 2022

  Buyer

  Five Star Parks & Attractions, Fruition Partners

  Target

  Malibu Jack's Indoor Theme Parks (Lexington, Louisville, Ashland, KY locations)

  Seller

  Malibu Jack's founders and leadership team

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Addon

  Five Star Parks & Attractions, a portfolio company of Fruition Partners, acquired three Malibu Jack's indoor theme park locations in Lexington, Louisville and Ashland, Kentucky. The deal expands Five Star's family entertainment center platform to 16 locations across eight states; Malibu Jack's founders and leadership will remain involved to help develop and open additional parks.

• FAT Brands Acquires Fazoli's from Sentinel Capital Partners

  December 16, 2021

  Buyer

  FAT Brands Inc.

  Target

  Fazoli's Group, Inc.

  Seller

  Sentinel Capital Partners

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Divestiture

  FAT Brands has acquired Fazoli's Group, Inc. from private equity firm Sentinel Capital Partners for an enterprise value of $130 million. Fazoli's, headquartered in Lexington, Kentucky, operates nearly 220 franchised and company-owned quick-service Italian restaurants across the United States; the acquisition expands FAT Brands' portfolio of franchised restaurant concepts.

• Orangewood Partners and ABDD Capital's ABTB Acquires Eight Taco Bell Restaurants in Louisville, KY

  April 22, 2019

  Buyer

  ABTB, Orangewood Partners, ABDD Capital

  Target

  Eight Taco Bell restaurants (greater Louisville, KY)

  Industry

  Restaurants & Hospitality

  Location

  Kentucky, United States

  Type

  Addon

  ABTB, a partnership between Orangewood Partners and ABDD Capital, acquired eight additional Taco Bell restaurants in the greater Louisville, Kentucky market and will integrate them into ABTB’s existing portfolio, which now totals 32 Taco Bell locations. Financial terms were not disclosed; Paris Ackerman LLP provided legal advice on the transaction.

PrivSource has tracked 8 Restaurants & Hospitality Buyers & acquisitions in Kentucky between 2019-2026.