Overview
- Directors unanimously backed the deal after soliciting interest from more than 40 potential buyers and chose a consortium of TriArtisan Capital Advisors, Treville Capital and Yadav Enterprises.
- Shares jumped about 46% to 47% in after-hours and premarket trading following the announcement.
- The transaction targets a first-quarter 2026 closing subject to stockholder and regulatory approvals, after which Denny's would go private and its shares be delisted.
- The buyers include one of Denny’s largest franchisees, Yadav Enterprises, and have signaled plans to work with management and franchisees on long-term growth.
- The company has been navigating post-pandemic shifts and plans to close roughly 150 low-performing units, operating 1,558 restaurants worldwide including the Keke's brand acquired in 2022.