Denny's Corporation to be Acquired by TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises in $620 Million Transaction

Core Viewpoint - Denny's Corporation has announced a definitive agreement to be acquired by a group of investors for $6.25 per share in cash, representing a significant premium to its recent stock price, with the transaction valued at approximately $620 million [1][2]. Transaction Details - The acquisition price of $6.25 per share reflects a 52.1% premium to Denny's closing stock price on November 3, 2025, and a 36.8% premium to the 90-day volume-weighted average share price [2]. - The transaction is expected to close in the first quarter of 2026, pending customary closing conditions, including stockholder approval and regulatory approvals [5]. Investor Group - The acquiring group includes TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises, with TriArtisan having significant experience in the restaurant sector [3][4]. - Yadav Enterprises operates approximately 550 restaurants and is one of the largest Denny's franchisees, bringing valuable operational experience to the acquisition [3]. Company Background - Denny's Corporation is one of America's largest full-service restaurant brands, with 1,558 restaurants as of June 25, 2025, of which 1,474 are franchised [8][9]. - The company operates under the Denny's and Keke's brands, with a strong franchise base and a loyal customer following [9]. Management Commentary - The CEO of Denny's expressed confidence that the transaction maximizes value for stockholders and is in the best interests of the company, highlighting the strong foundation of Denny's as "America's Diner" [4]. - TriArtisan's co-founder emphasized the brand's iconic status and the firm's commitment to supporting Denny's long-term growth plans [4].