South Carolina, US-based restaurant chain Denny’s has agreed to be acquired by a consortium led by TGI Fridays’ proprietor TriArtisan Capital Advisors in a transaction valued at $620m together with debt.
The customer group additionally comprises funding firm Treville Capital and restaurant operator Yadav Enterprises.
Denny’s shareholders will obtain $6.25 in money per share.
The provide displays a 52.1% premium to Denny’s closing share value on 3 November 2025, the final full buying and selling day earlier than the announcement, and a 36.8% premium to the corporate’s 90-day volume-weighted common value for the interval ended the identical day.
Denny’s CEO Kelli Valade said: “After receiving indications of curiosity from TriArtisan, the board performed an intensive overview of strategic alternate options to maximise worth with the help of exterior advisors. As a part of the overview, the corporate reached out to greater than 40 potential consumers and finally obtained a number of affords.
“The board evaluated any potential transaction in opposition to Denny’s standalone plan and all exterior strategic alternate options. After cautious consideration of all choices and in session with exterior monetary and authorized advisors, the board is assured the transaction maximises worth and has decided it’s honest to and in the perfect pursuits of stockholders and represents the perfect path ahead for the corporate.”
The deal is anticipated to finish within the first quarter (Q1) of 2026, contingent upon customary closing circumstances, encompassing shareholder approval and regulatory clearances.
Following completion, Denny’s widespread inventory shall be delisted from Nasdaq.
Truist Securities is performing as monetary adviser to Denny’s, with Morgan, Lewis & Bockius, Sidley Austin and Caiola & Rose offering authorized counsel.
World Leisure Companions is advising TriArtisan on the monetary aspect, whereas Ropes & Grey is performing as its authorized counsel.
“Denny’s set to go non-public in $620m buyout” was initially created and printed by Verdict Meals Service, a GlobalData owned model.
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