Spartanburg-based Denny’s Corp. announced Nov. 3 that it has entered into an agreement to be acquired by a group of private equity investors in an all-cash transaction valued at $620 million.
The company owns and operates Denny’s Inc. and Keke’s Inc. It has entered an agreement to be acquired by TriArtisan Capital Advisors LLC, a New York-based private equity firm with P.F. Chang’s and TGI Friday’s among its portfolio of companies; Treville Capital Group; and Yadav Enterprises Inc., owner-operator of approximately 550 restaurants nationwide and one of the largest Denny’s franchisees.
Upon completion of the transaction, Denny’s will become a privately held company.
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