Denny’s sells itself for $620M

Group 1 - Denny's is implementing several initiatives, including restaurant remodeling and enhancing its value proposition, to address declining sales, having remodeled 30 restaurants this year [3] - A broader remodel program for franchised restaurants is planned for 2026, with only 20% of these restaurants remodeled so far, leading to strong cash-on-cash returns and higher guest satisfaction [4] - The chain launched promotions such as 4 Slams under $10, which increased traffic and resulted in record-high transactions for the Super Slam [5] Group 2 - Despite these strategies, same-store sales continue to decline, with a reported decrease of 2.9% in the third quarter of 2025 [8] - Activist investor JCP Investment Management has increased its stake in Denny's and plans to discuss opportunities to enhance the company's value [6] - Denny's has entered into a definitive agreement to be acquired for $620 million by Yadav Enterprises, TriArtisan Capital Advisors, and Treville Capital Group, with the transaction expected to close in the first quarter of 2026 [8]