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Inspire Brands, the parent company of Arby’s, Sonic and Buffalo Wild Wings, began the process of acquiring Jimmy John’s in September 2019 for an undisclosed amount. The sale was completed in October.
With the addition of the third largest sandwich chain, which is 34th overall in the Top 200, Inspire’s portfolio expanded to more than $14 billion in annual sales and is composed of four brands in the top 40. (Sonic is 13th, Arby’s is 17th and Buffalo Wild Wings is 18th).
“Inspire’s long-term approach, culture of innovation and commitment to helping brands grow sets it apart from the rest. I couldn’t be prouder of the company we’ve built, and I can’t wait to see what Jimmy John’s is able to accomplish under Inspire’s leadership,” said Jimmy John’s founder Jimmy John Liautaud in a statement at the time of the acquisition.
Peet’s Coffee & Tea got a new name in late 2019. The coffee company’s owner, JAB Holding, decided to combine its two coffee companies into one, rebrand and explore an international IPO. JDE Peet’s, a combination of Jacobs Douwe Egberts and Peet’s Coffee, was born.
With the combination of the two companies, JDE Peet’s will have a footprint in 140 countries. According to a company release at the time of the merger, JDE Peet’s “does not intend to conduct a public offering of any securities in the United States.”
Rumors that JAB’s coffee division would go public began in January 2019.
Jacobs Douwe Egberts, with litle if any U.S. coffee bar presence, has not been ranked in the Top 200. Peet's Coffee & Tea was 127th in 2019. JAB’s portfolio also includes Panera Bread (10th), Krispy Kreme (62nd) and Pret A Manger (155th) in the Top 200 ranking.
After a year where TGI Fridays’ sales decreased over 5% year-over-year and they ranked 48th, the chain made a big move and decided to go public by means of a merger with Allegro Merger Corp. at the end of 2019 in a deal valued at $380 million.
The transaction, announced in November, will give the casual dining chain’s holders a combination of cash and stock valued at $30 million while Allegro assumes $350 million of net debt from the chain.
With this move, TGI Fridays can focus on rebranding its restaurants, 83% of which are franchisee-owned, by zeroing in on the bar scene and bringing diners back into the restaurant. Same-store sales declined throughout 2019, and the brand hopes to reverse that trend through licensing and loyalty programs.
Almost immediately after Top 200 rankings were released, Del Frisco’s Restaurant Group was acquired by the private equity firm L Catterton for $650 million in June. Del Frisco’s had revenue growth of 16.1%, largely from the 2018 acquisition of Bartaco.
In September, L Catterton sold two of restaurant group’s brands — Del Frisco’s Double Eagle Steakhouse and Del Frisco’s Grille — to hospitality company Landry’s for an undisclosed amount.
L Catterton kept Barcelona Wine Bar and Bartaco for its own portfolio, already included Chopt, Noodles & Company and Anthony’s Coal Fired Pizza
In 2019, Del Frisco’s Double Eagle Steak House was ranked 187th and Del Frisco’s Grille was one of Nation’s Restaurant News’ “Next Gen” restaurants deemed poised to break into the Top 200.
To expand The Cheesecake Factory’s reach, the casual dining chain acquired all of Fox Restaurant Concepts, which includes North Italia and Flower Child. North Italia had a 20% expansion already planned before the acquisition.
Fox Restaurant Concepts will not be ‘Cheescake-ized’ in acquisition, according to CEO David Overton, but instead the $353 million deal allowed Sam Fox to focus on the smaller brands while The Cheesecake Factory works on growth.
The Cheesecake Factory began making small investments in both Flower Child and North Italia in 2016, completing its investment at the end of the second quarter in 2019.
Sam Fox, founder and CEO of Fox Restaurant Concepts, said, “This partnership will be the first of its kind for the restaurant industry. David Overton and I quickly realized the magic occurring between our organizations while we worked through North Italia’s integration. With our aligned cultures and philosophies, The Cheesecake Factory is the right partner to embrace our creative spirit, enabling us to innovate concepts, while providing the infrastructure and capital to scale.”
The Habit Burger Grill welcomed 2020 with a bang as it announced in the first week of the year that it will be acquired by Yum Brands. The fast casual burger chain will be Yum’s first entry to the burger category with this $375 million deal.
Habit will be the Taco Bell, KFC and Pizza Hut parent’s only fast casual chain and is “as close to QSR as you can get in the fast casual segment,” Yum’s new CEO David Gibbs told Nation’s Restaurant News when the news broke.
