Bain Capital has reportedly reached an agreement to acquire Sizzling Platter, a prominent restaurant-chain operator, for over $1 billion, inclusive of debt. This acquisition would transition ownership from private equity firm CapitalSpring to Bain Capital, a global private investment firm known for its diverse portfolio. According to individuals familiar with the transaction, Sizzling Platter informed its bondholders of the impending sale on Wednesday.
Sizzling Platter, headquartered in Salt Lake City, operates franchises of notable restaurant brands such as Dunkin’, Jersey Mike’s, Little Caesars, Cinnabon, and Jamba, among others. The firm has established a significant presence in the restaurant franchise industry by managing a wide array of well-known names.
The financing for this transaction is being facilitated by Jefferies Group Inc. and UBS Group AG. Despite inquiries, representatives from these financial entities have declined to offer comments regarding the deal details. Similarly, inquiries for statements from Bain Capital and CapitalSpring have yet to elicit responses. For further details, interested parties can refer to the Bloomberg article where the transaction was initially reported.
This acquisition fits within Bain Capital’s strategy of taking stakes in markets with substantial growth prospects. As private equity firms continue to seek lucrative opportunities in various sectors, the restaurant and foodservice industry remains an attractive market due to its potential for expansion and consolidation.