By DEE-ANN DURBIN
Denny’s announced Monday that it is being acquired by a group of investors in a deal that will take the breakfast chain private.
The Denny’s board unanimously approved the agreement, which values the company at $620 million, including debt. The breakfast chain will be purchased by private equity investment firm TriArtisan Capital Advisors, investment firm Treville Capital, and Yadav Enterprises, one of Denny’s largest franchisees.
Under the terms of the deal, Denny’s shareholders will receive $6.25 per share in cash for each share of Denny’s common stock they own, totaling $322 million. This price represents a 52% premium over Denny’s closing stock price on Monday. Following the announcement, Denny’s shares surged 47% in after-hours trading.
Founded in 1953 in Lakewood, California, as Danny’s Donuts, the company changed its name to Denny’s Coffee Shops in 1959 to avoid confusion with another chain. Denny’s began trading on the New York Stock Exchange in 1969.
Like many casual dining chains, Denny’s experienced a significant sales decline during the COVID-19 pandemic. As restrictions eased, the company faced changing customer dining patterns, including a greater reliance on delivery services. Additionally, Denny’s has struggled to compete with newer chains like First Watch that promote healthier breakfast options.
In response, Denny’s announced last fall plans to close 150 of its lowest-performing locations. As of the end of the second quarter, Denny’s operated 1,558 restaurants worldwide, including 1,422 Denny’s locations and 74 Keke’s restaurants. Denny’s acquired the Keke’s brand in 2022.
Denny’s CEO Kelli Valade stated that the company reached out to more than 40 potential buyers and received multiple offers. She added that the board believes the deal announced Monday is in the best interest of shareholders and represents the best path forward for the company.
TriArtisan Co-Founder and Managing Director Rhohit Manocha described Denny’s as “an iconic piece of the American dream” with a strong franchise base and loyal customers. “We look forward to working with Kelli and the rest of the Denny’s team and franchisees to provide resources and support the company’s long-term strategic growth plans,” Manocha said in a statement.
If approved by Denny’s shareholders, the deal is expected to close in the first quarter of 2026.
https://www.sun-sentinel.com/2025/11/03/dennys-acquired-taken-private/