Denny’s to Be Acquired and Taken Private in a Deal Valued at $620 Million

EMERYVILLE, CALIFORNIA – FEBRUARY 13: A sign is posted in front of a Denny’s restaurant on February 13, 2023 in Emeryville, California. Denny’s restaurant will report fourth quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)

Denny’s said Monday that it’s being acquired by a group of investors who will take the breakfast chain private. Denny’s board unanimously approved the deal, which values Denny’s at $620 million including debt. The company will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital and Yadav Enterprises, which is one of Denny’s largest franchisees. Under the agreement, Denny’s shareholders will receive $6.25 per share in cash for each share of Denny’s common stock they own, or a total of $322 million. Denny’s was founded in 1953, but has struggled since the pandemic with growing competition and changing dining patterns.