Ice cream chain famous for 31 flavors
The $700 million sale of Freddy's Frozen Custard from Thompson Street Capital to Rhône Group is the latest in a string of PE-to-PE restaurant deals. Here's what these transactions reveal about how private equity values QSR brands in 2026.
March 24, 2026
Jack in the Box bought Del Taco for $575 million in 2022 and sold it for $115 million in late 2025. The 80% value destruction in under four years is a case study in what happens when a struggling brand tries to grow by acquisition.
March 24, 2026
Blackstone paid $8 billion for a majority stake in Jersey Mike's, making it one of the most expensive QSR acquisitions in history. Now the private equity giant is executing a textbook franchise growth play: 400+ new units in 2026, international expansion into the UK and Ireland, and whispers of an IPO before the decade ends.
March 24, 2026
Dunkin' has spent the last decade transforming from a regional donut shop into a national beverage-led, on-the-go brand. The rebrand from "Dunkin' Donuts" to just "Dunkin'" in 2019 signaled the shift:
March 21, 2026
Subway has long been one of the most accessible franchise opportunities in quick-service restaurants. The initial investment is lower than most major brands. The footprint is flexible (you can open in
March 21, 2026
The complete story of how the largest franchise system in history collapsed. Dollar footlongs, franchisee revolts, market saturation, and the $9.6 billion Roark Capital acquisition that inherited the mess.
March 20, 2026