Restaurants & Fast Food

Owned by The Blackstone Group

Fast-growing drive-thru coffee chain backed by Blackstone, expanding rapidly across the US

Owned by Inspire Brands (Roark)

Fast food sandwich chain, part of Inspire Brands (Roark)

Owned by Sun Capital Partners

Bar and grill chain in which Sun Capital Partners became a major investor in 2010; filed Chapter 11 in January 2020 and again in March 2025, before being sold out of bankruptcy to Sun Holdings in October 2025.

Owned by Inspire Brands (Roark)

Ice cream chain, part of Inspire Brands (Roark)

Italian restaurant chain owned by Levine Leichtman Capital Partners from 2012 until an April 2018 Chapter 11 sale to Earl Enterprises; has filed Chapter 11 twice more since (2022, 2025) and continues operating a reduced footprint.

Owned by Bain Capital

Bain Capital, Catterton Partners, and Chris Sullivan took OSI Restaurant Partners (Outback Steakhouse, Carrabba's, Bonefish Grill, Fleming's) private for $3.2B in 2007. Loaded with debt through the financial crisis. IPO'd as Bloomin' Brands in 2012.

Owned by Golden Gate Capital

Family restaurant chain sold to Golden Gate Capital in 2017, now operated by 4x4 Capital

Owned by The Jordan Company

Southern chicken and biscuit chain backed by Durational Capital and The Jordan Company with 800+ locations

Owned by Sun Capital Partners

Rotisserie chicken chain bought from McDonald's by Sun Capital Partners in 2007; Sun Capital sold it in 2020 to Jay Pandya's Engage Brands, after which the chain collapsed from roughly 300 locations to fewer than 30 by 2024-2025.

Owned by Inspire Brands (Roark)

Sports bar chain, part of Inspire Brands (Roark)

Global fast food chain owned by Restaurant Brands International (3G Capital/Berkshire)

Owned by Roark Capital

Ice cream franchise owned by Roark Capital through GoTo Foods

Owned by Apollo Global Management

Family entertainment restaurant taken private by Apollo in 2014. Filed for bankruptcy in 2020 during COVID

Owned by Roark Capital

Roark Capital (which already controls Subway, Dunkin', Arby's, Sonic, and more) acquired a 75% majority stake in Dave's Hot Chicken for ~$1 billion in June 2025. The chain had 245+ locations and $617M in 2024 sales. Roark's restaurant empire is now the largest franchise operation outside publicly traded companies.

Owned by TriArtisan Capital Advisors

Iconic diner chain acquired by TriArtisan Capital, Treville Capital, and franchisee Yadav Enterprises for $620M in 2025, going private after decades on public markets

Owned by Inspire Brands (Roark)

Coffee and donut chain with 13,000+ locations, part of Inspire Brands (Roark)

Owned by Bain Capital

Bain Capital, Carlyle Group, and THL Partners acquired Dunkin' Brands (Dunkin' Donuts + Baskin-Robbins) for $2.4B in 2006. Took public in 2011. Sold to Inspire Brands (Arby's) in 2020 for $11.3B.

Owned by Advent International

Breakfast and brunch fast-casual chain backed by Advent International with 530+ locations

Owned by Roark Capital

Roark platform operating Cinnabon, Auntie Anne's, Jamba, McAlister's, and Schlotzsky's

Owned by Bain Capital

Brazilian steakhouse chain acquired by Bain Capital from Rhone Capital in 2023

Owned by Sun Capital Partners

Sun Capital executed sale-leaseback on 160 properties, dumped $115M pension. Filed bankruptcy twice. Sold for just $2M — fraction of $337M Sun paid.

Owned by Roark Capital

Fast food burger chains operated by CKE Restaurants (Roark)

Owned by The Blackstone Group

Sub sandwich franchise acquired by Blackstone in 2025 for ~$8B, one of the largest restaurant PE deals ever

Owned by Inspire Brands (Roark)

Sandwich delivery chain, part of Inspire Brands (Roark)

Belgian bakery-cafe chain majority-owned by Cobepa, a Belgian investment company; its US division filed Chapter 11 in May 2020 and was sold for $3 million to Aurify Brands, which reopened US locations under its own ownership.

Owned by Roark Capital

Fast-casual deli chain owned by Roark Capital through GoTo Foods (formerly Focus Brands)

Owned by Roark Capital

Tex-Mex fast-casual chain owned by Roark Capital through GoTo Foods

Bain Capital and Catterton Partners took Bloomin' Brands private for $3.2B in 2006. Returned to public markets in 2012; Bain has since exited

Owned by JAB Holding Company

Bakery-cafe chain with 2,100+ locations

Owned by TriArtisan Capital Advisors

Asian-inspired restaurant chain backed by TriArtisan Capital since 2019

Owned by LongRange Capital

Yum! Brands agreed in June 2026 to sell Pizza Hut for $2.7B in two transactions: LongRange Capital takes the business outside mainland China for ~$1.5B plus a $75M earn-out through 2030, and Yum China bought the mainland China locations for $1.2B (closed August 7, 2026). LongRange gets 15,500+ restaurants in 108 countries and ~$10B in annual systemwide sales. The chain arrives with US systemwide sales down ~8% in fiscal 2025, same-store sales down 4% in Q1 2026, and roughly 250 US locations closed in the first half of 2026

Yum! Brands spun out of PepsiCo; KKR held significant stake. Operates Pizza Hut, KFC, Taco Bell

Owned by General Atlantic

JAB Holding (majority) and Bridgepoint acquired Pret A Manger in 2018 for £1.5B, with General Atlantic as a minority investor. The pandemic decimated Pret's office-location model and led to 2,800+ layoffs in 2020. General Atlantic helped recapitalize the business.

Owned by Apollo Global Management

Mexican fast-casual chain acquired by Apollo from Jack in the Box in 2018

Owned by Golden Gate Capital

Golden Gate Capital's sale-leaseback stripped Red Lobster of real estate assets, saddling it with unaffordable lease obligations. Filed Chapter 11 in 2024.

Casual-dining chain taken private by NRD Capital Management, an Atlanta private-equity firm, in a deal valued around $335 million (about $146 million in equity) completed December 20-21, 2017; filed Chapter 11 in October 2020, closing 185 restaurants, and continues operating under NRD Capital today.

Owned by Roark Capital

Sandwich chain owned by Roark Capital through GoTo Foods

Owned by Inspire Brands (Roark)

Drive-in fast food chain, part of Inspire Brands (Roark)

Owned by KarpReilly

Pioneer of the gourmet cupcake trend. After KarpReilly acquisition, rapid expansion diluted the brand. All stores closed Dec 31, 2025 with one day notice to employees.

Owned by Roark Capital

World's largest restaurant chain by locations, acquired by Roark Capital in 2023 for $9.6B

Owned by TriArtisan Capital Advisors

TriArtisan Capital and Sentinel Capital's 2014 acquisition saddled the chain with debt. TGI Fridays lost 55% of its U.S. locations and 63% of sales from 2008 to 2023. A $375M securitization unraveled in 2024, stripping the company of its royalty stream. Filed Chapter 11 in November 2024.

Canadian coffee chain owned by Restaurant Brands International, backed by 3G Capital

Owned by The Blackstone Group

Smoothie and food franchise acquired by Blackstone in 2024 for ~$2B