Restaurants & Hospitality Acquisitions in Texas

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.

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.

Private equity funds managed by Leonard Green & Partners acquired a 60% stake in Topgolf and Toptracer from Topgolf Callaway Brands, valuing the Topgolf unit at approximately $1.1 billion. Topgolf Callaway Brands received about $800 million in net cash proceeds, retained a 40% stake, and used proceeds to repay $1 billion of term loan debt while announcing a corporate name change back to Callaway Golf Company.

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.

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.

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.

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.

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.

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.

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.

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.

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.

colette, an upscale membership lifestyle club operator headquartered in The Woodlands, Texas, has acquired Texas Players Club in San Antonio and will rebrand and renovate the venue beginning June 2025. The acquisition marks colette’s strategic expansion into the Texas market and will introduce design upgrades and new amenities while keeping the club open during the transition.

Arcis Golf has acquired The Woodlands Country Club near Houston, Texas, from Invited and assumed operations on May 13, 2025. The 99‑hole private club expands Arcis Golf’s Texas portfolio and the company plans more than $30 million in course and amenities investments to enhance member experience.

Nothing Bundt Cakes sold nine company-owned bakeries in the San Diego market to FS Investors, which also signed a development agreement to build 16 additional bakeries in the region. The transaction is part of Nothing Bundt Cakes' strategy to accelerate regional expansion and leverage local operators to scale presence in a high-growth market.

Unrivaled Sports has acquired Rocker B Ranch, a 325-acre youth baseball and multi-sport resort near Graford, Texas, adding the property to its Baseball & Multi-sport Division. Unrivaled plans to expand fields, increase accommodations, and enhance amenities while founders Lance and Bart Byrd will remain involved with the operation.

Goode Partners LLC has made a strategic growth investment in Wings 'N More Restaurants LLC, with debt financing provided by Gladstone Capital Corporation, to accelerate the Texas-based chain's growth and geographic expansion. The deal partners Goode with founder Mark Dennard and will support expansion of the brand, which currently operates seven restaurants in College Station/Bryan, Corpus Christi and Houston.

Darden Restaurants completed its previously announced all-cash acquisition of Chuy's Holdings, Inc. for an enterprise value of approximately $605 million, financed in part with proceeds from senior note offerings. Chuy's—founded in Austin, Texas—operates just over 100 Tex‑Mex restaurant locations (about 101 stores) with annualized unit volumes of roughly $4.5 million; Chuy's stockholders approved the merger and the company's common stock ceased trading on Nasdaq.

Oravel Stays, the parent of global travel technology company OYO, agreed to acquire G6 Hospitality—the franchisor of Motel 6 and Studio 6—from Blackstone Real Estate in an all-cash transaction valued at $525 million. The purchase will expand OYO's U.S. footprint and leverage OYO's technology and distribution to strengthen the Motel 6 and Studio 6 brands; the deal is expected to close in Q4 2024.

L Catterton led a strategic growth investment into Open Road Resorts, joined by THOR Industries, Long Light Capital, and Chesapeake Partners, to scale the RV-park and campground platform across the United States. The capital will support ORR’s acquisition of additional parks, investments in amenities and infrastructure, and marketing and brand-building to expand its geographic footprint.

Harvest Hosts, the North America-focused RV membership network based in Vail, Colorado, has acquired Escapees RV Club, a long-standing RV membership organization providing community, events, education, mail services and campgrounds. Escapees' leadership and staff will remain in place and members will continue to receive benefits as the two organizations integrate to expand offerings and the RV community footprint across North America.

Porter Vacation Rental Management (Porter VRM) has acquired Soar Vacation Rental Services, expanding Porter's presence in the Galveston, Texas market and boosting its coastal rental portfolio. The deal, which closed at the end of May 2024, brings additional Galveston vacation rental inventory under Porter's luxury-focused, full-service management platform.

Uncommon Brands, a Dallas-based restaurant holding company backed by Crux Capital, has completed the acquisition of Fuego Tortilla Grill, a Texas-based Tex‑Mex limited‑service concept. The deal adds a fast‑casual Tex‑Mex brand to Uncommon Brands' platform as it pursues accelerated unit development and operational scaling across regional markets.

Authentic Restaurant Brands (an ARB platform backed by Garnett Station Partners) completed a take-private acquisition of Fiesta Restaurant Group, Inc., the parent of the Pollo Tropical restaurant brand, in an all-cash transaction valued at $8.50 per share. The deal (supported by a $115 million senior secured credit facility provided by Comvest Credit Partners) brings Pollo Tropical into ARB's portfolio to expand and strengthen its regional restaurant platform.

Concert Golf Partners has acquired Northgate Country Club Management, LLC (dba Northgate Country Club) in Houston, Texas; the transaction closed on November 1, 2023. Generational Equity advised the seller; Concert Golf — a boutique owner-operator of private golf and country clubs headquartered in Lake Mary, Florida — will add the two Northgate clubs to its portfolio and invest in the properties.

Topgolf Callaway Brands Corp. acquired certain assets related to the BigShots Golf business from Invited, Inc., including four U.S. venues (one owned, three franchised), development rights and related assets. The deal, with an initial purchase price of approximately $29 million, also includes a preferred vendor agreement with Invited to feature Topgolf Callaway Brands' products at Invited's club portfolio, expanding the company's off-course golf footprint and strategic partnerships.

Bain Capital Private Equity has entered into a definitive agreement to acquire Fogo de Chão from funds affiliated with Rhône Capital. The transaction, expected to close in September 2023, will keep Fogo's existing management in place and aims to accelerate the restaurant chain's growth and global expansion.

Movement Climbing, Yoga and Fitness has acquired four Summit Climbing, Yoga and Fitness locations in the Dallas–Fort Worth area — Summit Grapevine, Summit Plano, Summit Denton and Summit Fort Worth — and has also acquired Team Texas and the Summit Carrollton location for use as a team training facility. The deal expands Movement's presence in the DFW market and brings the company's climbing, yoga and fitness offerings to a larger local community.

Xperience Restaurant Group (a portfolio company of Z Capital Partners) acquired The RM Restaurant Group, a six-unit Fort Worth, Texas restaurant group (Rio Mambo and THE RIM), with the transaction closing on February 27, 2023. XRG intends to integrate the concepts into its portfolio and expand the brands while keeping the existing leadership team intact.

Generational Equity advised the sale of event1013, a historic event venue in Plano, Texas, to a private investor. The transaction closed on January 25, 2023; the buyer plans to continue operating the property as an event center to preserve the landmark building.

Dallas-based private equity firms Trive Capital and Crux Capital acquired a minority stake in HTeaO, the Fort Worth–headquartered drive-thru iced tea franchisor. The investment will support geographic expansion, speed unit growth (HTeaO has 68 operating locations and 426+ franchise licenses awarded), and add board representation for Trive and Crux to accelerate franchising and technology initiatives.

Gala Capital Partners (GCP), a Southern California private investment firm focused on emerging restaurant franchisors, has purchased Rusty Taco from Inspire Brands. The Rusty Taco management team, led by Brendan Mauri, will remain and has co‑invested in the transaction; terms were not disclosed.

Century Golf Partners and HKI America completed the acquisition of the Four Seasons Golf & Sports Club of Las Colinas, a landmark private sports club and two championship golf courses in Irving, Texas. Century Golf will manage the club under its Arnold Palmer Golf Management brand, and the purchase expands both buyers' portfolios of golf and sports properties.

Dine Brands Global, Inc. agreed to acquire Fuzzy's Taco Shop from Experiential Brands LLC (a subsidiary of NRD Holding Company) for $80 million in cash. The purchase adds a fast-casual, largely franchised Mexican concept with 138 restaurants to Dine Brands' portfolio and is expected to be accretive to earnings while supporting Fuzzy's growth plans.

BRS & Co. and Rosser Capital Partners, together with former Texas Roadhouse COO Doug Thompson, have acquired Tumble 22 Holdings, LLC, a Texas-based, bar-centric hot chicken restaurant concept with five locations. Founders Guy Villavaso and Larry Foles (Guy + Larry Restaurants) will retain an ownership stake, and the new partners plan to provide capital and operating expertise to accelerate geographic expansion and growth.

The Island Spot, a multi-location Jamaican restaurant operator, has acquired Bone Daddy's, a Dallas-based barbeque restaurant chain. The deal, facilitated by Benchmark International, is intended to expand The Island Spot's geographic reach and restaurant offerings across Texas.

Oak View Group's OVG Hospitality division has acquired Spectrum Catering, Concessions & Event Services, a Houston-area event food service company that specializes in sporting events, music festivals, and artist/tour catering. The deal expands OVG Hospitality's portfolio and capabilities in live-event food and hospitality services across major sports, festival and touring markets.

Stamford-based private equity firm Olympus Partners has acquired Excel Fitness Holdings, a leading Planet Fitness franchisee headquartered in Austin, Texas. Excel operates over 90 Planet Fitness locations across several U.S. markets (serving ~750,000 members) and the deal represents a PE buyout from prior sponsor Altamont Capital Partners to support further club development and geographic expansion.

Dave & Buster's Entertainment, Inc. has entered into an agreement to acquire Main Event from Ardent Leisure Group and RedBird Capital Partners for a total enterprise value of $835 million. Main Event operates ~50 family entertainment centers across the U.S.; the deal is expected to close later in 2022 and will name Main Event CEO Chris Morris as CEO of the combined entity upon closing.

Dallas-based Elm Creek Partners sponsored the acquisition and aggregation of multiple Urban Air Adventure Park franchisees in partnership with franchise owners Parker Coddington, Justin Ripp and Keegan Ripp, creating Elevated Venture Group (EVG). Boston-based Exaltare Capital Management provided a simultaneous recapitalization, making EVG a portfolio company and the first institutional capital in the Urban Air franchisee system to support multi-state growth.

Austin-based private equity firm Switchback Capital LLC acquired Smokey Mo's TX BBQ, a 16-unit Central Texas barbecue chain. Switchback plans to modernize the concept, roll out a new store prototype and expand franchising following the retirement of the founding family.

Garnett Station Partners has recapitalized Houston-based Mambo Seafood, partnering with founder Michael Ho and CEO Robert McKinley to provide growth capital for the company's planned expansion across Texas and the Southwest. Financial terms were not disclosed; Mambo operates 11 locations (10 company-owned, one franchised) and will use the investment to accelerate on- and off-premise growth.

Booking Holdings Inc. completed its acquisition of Getaroom from Court Square Capital Partners for approximately $1.2 billion, folding the business into Priceline to form a new Strategic Partnerships unit. Getaroom will remain headquartered in Dallas and CEO Matt Davis will lead Priceline's Strategic Partnerships business unit.

Leonard Green & Partners (LGP) acquired a majority stake in Velvet Taco from L Catterton and FB Society, with L Catterton and FB Society retaining significant minority ownership. The Dallas-based fast-casual taco chain will work with LGP to support continued national expansion (the brand had nearly 30 locations at the time of the transaction and expected to exceed 40 by end of 2022).

TriSpan's restaurant platform Rising Stars acquired a majority stake in Shell Shack, a Texas-based experiential seafood and crab-boil restaurant concept. The investment will provide financial and operating resources to support Shell Shack's growth and national expansion plans; financial terms were not disclosed.

FAT Brands Inc. agreed to acquire Twin Peaks, a sports-lodge casual dining chain, from Garnett Station Partners for $300 million. The deal, funded with proceeds from a $250 million securitized debt financing and issuance of Series B preferred stock, expands FAT Brands into the polished casual dining / sports-lodge segment and adds 82 locations (with more in development).

Vacasa announced it has signed an agreement to acquire TurnKey Vacation Rentals, a full-service vacation rental manager based in Austin, Texas that manages approximately 6,000 vacation rentals across 80+ U.S. destinations. The deal expands Vacasa’s portfolio into premier markets (including Los Angeles, Napa, Asheville and Santa Fe), brings TurnKey employees and technology into Vacasa, and is expected to close subject to customary conditions.

An affiliate of Peak Rock Capital has completed the acquisition of Shipley Franchise Company and Shipley Do-nut Flour & Supply Co. The Shipley family will remain investors while Peak Rock plans to support the brand's growth across its network of more than 300 franchised locations; Shipley is headquartered in Houston, Texas.

An affiliate of KSL Capital Partners has made a substantial growth investment in Austin-based restaurant group Hai Hospitality to accelerate expansion of its restaurant brands, including Uchi, Uchiko and LORO. Hai’s leadership, including Founding Chef Tyson Cole and CEO Tony Montero, will remain in place; financial terms were not disclosed.

Atairos has acquired a substantial ownership position in Arcis Golf, the U.S. operator of public and private golf clubs. Fortress Investment Group will retain a significant ownership stake and Arcis Golf's management will continue to run the company as the new capital supports national expansion and enhancements to member amenities.