Sports bar and wing restaurant chain with extensive sauce selection
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
Jimmy John's launched a gyro LTO on March 5, 2026, becoming the latest legacy chain to chase the Mediterranean wave CAVA turned into a billion-dollar category. For operators, the trend raises real questions about who wins when everyone borrows the same playbook.
March 24, 2026
A bankruptcy court approved $184 million in debtor-in-possession financing for Fat Brands while simultaneously pushing out CEO Andy Wiederhorn and his three sons. With qualified bids due April 24 and an auction set for April 28, more than 2,200 franchise locations across 18 brands now face a compressed ownership transition timeline.
March 24, 2026
Roark Capital paid roughly $1 billion for a 245-unit Nashville hot chicken chain in June 2025. The math only makes sense if you understand the Wingstop playbook Roark has already run once before, and why Dave's Hot Chicken might be the one brand positioned to repeat it.
March 24, 2026
With ground beef hitting $6.69 per pound and the U.S. cattle herd at a 75-year low, QSR chains are racing toward chicken with an urgency that goes beyond trend-chasing. From McDonald's Chicken Big Mac to Taco Bell's poultry pivot to Raising Cane's 1,000th location, the competitive dynamics of 2026 are reshaping how every operator thinks about protein.
March 24, 2026