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Deal Detail

Dave's Hot Chicken to Roark Capital

RestaurantsLimited-Service/Mar 2025
EV / LTM EBITDA
-
EV / LTM Sales
1.6x
Enterprise Value
$1.0B
Primary Source
Moelis

Comparable Transactions

Restaurants transactions announced in the five years to March 2025. 18 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Jan 2025Jersey Mike's Subs Inc.Blackstone$6.3B9.6x24.0xFinancial
Jul 2024Chuy'sDarden Restaurants, Inc.$605M1.3x10.8xStrategic
Apr 2024TGI FridaysHostmore--5.4xStrategic
Mar 2024Safflower HoldingsThe ONE Hospitality Group--5.8xStrategic
Jan 2024Carrols Restaurant GroupRestaurant Brands International$1.0B-7.1xStrategic
Aug 2023Fiesta Restaurant GroupAuthentic Restaurant Brands$193M-8.3xStrategic
May 2023Ruth’s Hospitality Group, Inc.Darden Restaurants, Inc.--9.4xStrategic
Aug 2022Domino's Pizza businesses in Malaysia, Singapore and CambodiaDomino's Pizza Enterprises Ltd$147M-10.1xStrategic
Aug 2022BBQ Holdings (Famous Dave's)MTY Food Group Inc., MTY Franchising USA, Inc.$205M0.8x10.1xStrategic
May 2022Keke’s Breakfast CaféDenny’s Corporation--12.0xStrategic
Apr 2022Main EventDave & Buster’s Entertainment, Inc.--9.3xStrategic
Dec 2021Del Taco Restaurants, Inc.Jack in the Box Inc.$573M1.1x11.0xStrategic
Nov 2021Firehouse Restaurant GroupRestaurant Brands International$1.0B-20.0xStrategic
Sep 2021Twin PeaksFAT Brands--10.0xStrategic
Jul 2021Taco Cabana, Inc.Yadav Enterprises, Inc.--10.0xStrategic
Jul 2021J. Alexander’s Holdings, Inc.SPB Hospitality LLC--8.7xStrategic
Jun 2021New York PizzaOrkla ASA$173M2.7x11.4xStrategic
Oct 2020Dunkin' Brands Group, Inc.Inspire Brands (Roark Capital)$11.6B-25.3xFinancial
Mean3.1x11.6x
Median1.3x10.1x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
Primaryfairness opinionEWCZ FOMoelis2026$1.0B1.6x---Open