Denny's, one of the most iconic diner chains in the US, is set to go private after agreeing to a sale amid ongoing struggles. The £475.9 million ($620 million) buyout, which includes existing debt, will give the brand a fresh start under new private ownership.
CNN Business reported that the diner's board of directors voted unanimously to approve the deal. Denny's will be taken over by a group of investors consisting of TriArtisan Capital Advisors, private equity firm Treville Capital, and Yadav Enterprises - one of the chain's largest franchisees. The company announced the acquisition on Monday, 4 November 2025.
End of An Era: Stock Market Delistment After Six Decades
Although the board already gave the go-ahead for the sale, it still needs to be approved by the shareholders. Once finalised, Denny's will be delisted from the Nasdaq, bringing an end to nearly six decades as a publicly traded company.
As part of the deal, Denny's stockholders will be paid £4.80 ($6.25) in cash for every share they own. The company had explored interest from over forty potential buyers and reviewed multiple bids before choosing the winning offer.
'The Board evaluated any potential transaction against Denny's standalone plan and all external strategic alternatives,' Kelli Valade, chief executive officer of Denny's Corporation, said in a press release regarding the selection of a buyer.
He added, 'After careful consideration of all options and in consultation with external financial and legal advisors, the Board is confident the transaction maximizes value and has determined it is fair to and in the best interests of stockholders and represents the best path forward for the company.'
The deal is expected to be completed in early 2026. After this, the company will proceed to operate outside the public market spotlight.
What Pushed Denny's to Sell the Company
The decision comes as Denny's grapples with falling same-store sales, stronger competition from fast-casual breakfast chains, and ever-increasing cost of operations. The company's business troubles started during the pandemic.
By going private, Denny's believes the move will provide the flexibility it needs to restructure without the constant pressure of quarterly earnings reports. In addition, several investors closely connected to the company are confident that, with the right strategy, the chain can revitalize its brand, strengthen store performance, and expand its footprint both in the US and internationally.
Pizza Hut Up For Sale? Parent Company Weighs Strategic Options
The sale of Denny's is already confirmed, and Pizza Hut appears to be taking the same route as well. This is because Yum! Brands, its parent company, is reportedly considering the sale after announcing a review of 'strategic alternatives' for its pizza chain brand.
'The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut's performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands,' Chris Turner, Yum Brands' CEO, explained in a statement. 'To truly take advantage of the brand we've built and the opportunities ahead, we've made the decision to initiate a thorough review of strategic options.'
The review comes as Pizza Hut continues to struggle against competitors in attracting budget-conscious customers. Meanwhile, business analysts note that the review could lead to a full sale, a joint venture, or a major restructuring which means the sale of the pizza chain is highly possible.
Originally published on IBTimes UK
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