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Log In / Register | May 26, 2017
News about company buy outs and mergers

Five Planet Fitness Franchisees Merge to Create United PF Partners; Look for Acquisitions

Private equity firms JLM Financial Partners and Eagle Merchant Partners have created the largest Planet Fitness franchisee, United PF Partners, with 59 operating clubs in nine states.

Franchisor Cosi Files Chapter 11 Bankruptcy

Fast-casual franchisor and restaurant operator Cosi Inc. [NASDAQ:COSI] announced today that it has filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court, District of Massachusetts.

Marriott Buyout of Starwood Finalized, Becomes World’s Largest Hotel Chain

Swimming pool of Starwood's St. Regis hotel in Doha, Qatar. (photo/starwood)

Marriott International Inc. (NASDAQ:MAR) announced this morning that its acquisition of Starwood Hotels & Resorts Worldwide Inc. has been finalized. Marriott is now the world's largest hotel company with 30 hotel brands and 5,700 hotels in 110 countries. The company's expanded distribution of hotels has in one swoop more than doubled in Asia, the Middle East and Africa combined.

Red Lion to Acquire Vantage Hospitality for Up to $41M

Red Lion Hotels Corporation (NYSE:RLH) announced on September 13 that it has agreed to acquire Vantage Hospitality Group Inc. for at least $28 million. The two franchisors signed a definitive agreement for Vantage to be bought at an initial price of $23 million in cash and 690,000 shares of Red Lion's common stock, which closed yesterday at $7.79 a share or a total of $5.4 million for those shares. The deal is expected to be finalized in the fourth quarter of 2016.

Canada’s MTY to Acquire Baja Fresh and La Salsa Fresh Mexican Grill

Montreal-based MTY Food Group Inc. [TSX: MTY] announced this morning that it has signed an agreement to acquire BF Acquisition Holdings, LLC., owner of California-based Baja Fresh Mexican Grill and La Salsa Fresh Mexican Grill for $27 million.

How the Serruya Family Made Big Money on Shrinking Franchise Systems

Melting ice cream (photo by teakwood)

The Serruya family has bought Kahala for cheap at an auction and quickly traded the franchising conglomerate of such troubled brands as Cold Stone Creamery and Blimpie to the MTY Group for a whopping $320 million in cash and stock.

Sources Say Couche-Tard, Private Equity Consortium, Others, Vying for CST Brands

CST Brands [CST:NYSE], a chain of convenience stores and gas stations in the U.S. and Canada, is being actively considered for acquisition by Canada's Alimentation Couche-Tard Inc.

Ruby Tuesday Sells Lime Fresh Mexican Grill Chain, Focuses on Its Turnaround

MARYVILLE, Tenn.—Ruby Tuesday, Inc. (NYSE:RT) announced today that EverFresh Endeavors has bought its Lime Fresh Mexican Grill brand for $4.6 million. The sale includes the franchising and intellectual property rights for Lime Fresh.

Store Comps Up in Q1 for Krispy Kreme U.S. Franchisees

WINSTON-SALEM, N.C.—On Tuesday Krispy Kreme Doughnuts, Inc. (NYSE:KKD) reported that same-restaurant sales for its American franchises has increased by 1.6 percent in the first quarter of its fiscal year 2017, which ended May 1, 2016.

Private Equity Firm Buys Krispy Kreme for $1.35 Billion

Krispy Kreme has agreed to a $1.35 billion deal with JAB Holdings, a Luxembourg-based private equity firm that recently bought Keurig Green Mountain, a specialty coffee company.