Top Restaurant Acquisitions & Mergers of 2007

Darden Restaurants’ announcement this week that it will sell its Smokey Bones Barbeque & Grill chain to Sun Capital Partners for an undisclosed amount continues a very busy year for buying and selling restaurant concepts.

By Staff -- Restaurants & Institutions, 12/4/2007

Darden Restaurants’ announcement this week that it will sell its Smokey Bones Barbeque & Grill chain to Sun Capital Partners for an undisclosed amount continues a very busy year for buying and selling restaurant concepts.

The $3.5 billion buyout of OSI Restaurant Partners (Outback Steakhouse) in June by Bain Capital Partners LLC, Catterton Management Co. and certain OSI executives was the largest transaction, followed by the $1.9 billion acquisition of Applebee’s International Inc. by IHOP Corp., a deal that closed last month. And with Brinker International seeking a buyer for its Romano’s Macaroni Grill chain and OSI reportedly interested in selling its Roy’s chain and possibly other concepts as well, more acquisition activity may yet take place before the year ends.

Below, in alphabetical order, are more than two dozen of the year’s other significant restaurant deals:

• Bojangles Famous Chicken ‘n Biscuits
  • Acquired 9/07 by: Fulfurrias Capital Partners
  • From: Bojangles Holding Co.
  • Price: Undisclosed
• Boston Market
  • Acquired 8/07 by: Sun Capital Partners
  • From: McDonald’s Corp.
  • Price: Undisclosed
• Buffalo ’s Southwest Grill
  • Acquired 1/07 by: Franchisees Drew Alexander and Shelli Lang
  • From: Management
  • Price: Undisclosed
• Bugaboo Creek Steak House
  • Acquired 2/07 by: Charlie Brown’s Acquisition Corp./Trimaran Capital Partners
  • From: RARE Hospitality Corp.
  • Price: $24 million
• Cafe Express
  • Acquired 7/07 by: Schiller Del Grande Restaurant Group
  • From: Wendy’s International
  • Price: Undisclosed
• Cereality Cereal Bar & Cafe
  • Acquired 7/07 by: Kahala-Cold Stone
  • From: Management
  • Price: Undisclosed
• Champps Entertainment
  • Acquired 7/07 by: F&H Acquisition Corp.
  • From: Management
  • Price: Approximately $75 million
• Cold Stone Creamery/Kahala Corp.
  • Merger announced 5/07
  • Terms: Undisclosed
• Friendly’s
  • Acquired 6/07 by: Sun Capital Partners
  • From: Management
  • Price: $337 million
• Grandy’s
  • Acquired 2/07 by: Souper Salad Inc./Sun Capital Partners
  • From: Spectrum Restaurant Group
  • Price: Undisclosed
• Johnny Rockets
  • Acquired 3/07 by: Redzone Capital Fund II
  • From: Management
  • Price: Undisclosed
• La Salsa Fresh Mexican Grill
  • Acquired 6/07 by: David Kim/B.F. Operations (Baja Fresh)
  • From: CKE Restaurants
  • Price: Undisclosed
• Leeann Chin
  • Acquired 3/07 by: Investor Lorne Goldberg/Mandarin Holdings LP
  • From: Management
  • Price: Undisclosed
• Lee Roy Selmon’s
  • Acquired 111/07 by: Lee Roy Selmon, Peter Barli
  • From: OSI Restaurant Partners Inc.
  • Price: Undisclosed
• Maggie Moo’s/Marble Slab Creamery
  • Acquired 2/07 by: NexCen Brands Inc.
  • From: Management
  • Price: $37.1 million
• Mitchell’s Fish Markets
  • Acquired 11/07 by: Ruth’s Chris Steak House Inc.
  • From: Cameron Mitchell Restaurants
  • Price: $94 million
• Moe’s Southwest Grill
  • Acquired 8/07 by: FOCUS Brands
  • From: Raving Brands
  • Price: Undisclosed
• Pacific Coast Restaurants
  • Acquired7/07 by: Restaurants Unlimited Inc./Sun Capital Partners
  • From: Management
  • Price: Undisclosed
• Peter Piper Pizza
  • Acquired 1/07 by: ACON Investments
  • From: Peter Piper Inc.
  • Price: Undisclosed
• Petro Stopping Centers
  • Acquired 5/07 by: Travel Centers of America LLC
  • From: Management
  • Price: Undisclosed
• Pretzel Time/Pretzelmaker
  • Acquired 8/07 by: NexCen Brands Inc.
  • From: Mrs. Fields Famous Brands LLC
  • Price: $29.4 million
• RARE Hospitality
  • Acquired 10/07 by: Darden Restaurants
  • From: Management
  • Price: Approximately $1.4 billion
• Restaurants Unlimited Inc.
  • Acquired 3/07 by: Sun Capital Partners
  • From: Management
  • Price: undisclosed
• Roadhouse Grill
  • Acquired 4/07 by: Duffy’s Holdings Inc.
  • From: Management
  • Price: $8 million
• Shoney’s
  • Acquired 1/07 by: Royal Capital Corp.
  • From: Management
  • Price: Undisclosed
• The Smith & Wollensky Restaurant Group
  • Acquired 2/07 by: Patina Restaurant Group
  • From: Management
  • Price: Approximately $95 million
• Togo ’s
  • Acquired 12/07 by: Mainsail Partners
  • From: Dunkin’ Brands
  • Price: Undisclosed