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Deal Detail

Qdoba Restaurant Corporation to Apollo Global Management

RestaurantsLimited-Service/Dec 2017
EV / LTM EBITDA
5.3x
EV / LTM Sales
-
Enterprise Value
$305M
Primary Source
Piper Sandler

Comparable Transactions

Restaurants transactions announced in the five years to December 2017. 25 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Nov 2017Bento Inc.YO! Sushi Group Ltd.--9.9xStrategic
Nov 2017Buffalo Wild Wings, Inc.Arby’s Restaurant Group, Inspire Brands (Arby’s Restaurant Group)--10.8xStrategic
Oct 2017Ruby Tuesday, Inc.NRD Capital, NRD Capital Management--5.0xFinancial
Sep 2017Cafe Rio Mexican GrillFreeman Spogli & Co.$280M-13.2xFinancial
Apr 2017Panera Bread CompanyJAB Holdings Company--17.8xStrategic
Mar 2017Cheddar's Scratch KitchenDarden Restaurants, Darden Restaurants, Inc.--10.4xStrategic
Mar 2017Checkers Drive-In Restaurants, Inc.Oak Hill Capital Management, LLC, Oak Hill Capital Partners$525M-11.0xFinancial
Feb 2017Popeye’s Louisiana KitchenRestaurant Brands International$1.8B-20.9xStrategic
Jan 2017Bob Evans RestaurantsGolden Gate Capital--6.5xFinancial
Oct 2016Pacific Island RestaurantsRestaurant Brands New Zealand$105M-7.6xStrategic
Aug 201675% of Domino's Pizza JapanDomino's Pizza Enterprises Ltd.$273M-10.4xStrategic
Jul 201634.3% of AmRest HoldingsFinaccess$1.7B-13.5xStrategic
May 2016Kahala BrandsMTY Food Group$300M-10.1xStrategic
May 2016Krispy Kreme DoughnutsJAB Holding Company$1.4B2.6x18.3xStrategic
Feb 2016Burger King KoreaAffinity PE$171M-11.4xFinancial
Jul 201531.7% of AmRest HoldingsFinaccess$993M-11.5xStrategic
May 2015Frisch’s Restaurants, Inc.NRD Partners I, L.P.--6.3xFinancial
Mar 2015Del Taco RestaurantsLevy Acquisition Corp.$500M-8.2xStrategic
Sep 2014Einstein Noah Restaurant GroupJAB Holding Company$471M-10.1xStrategic
Aug 2014Portillo's Restaurant Group, Inc.Berkshire Partners$875M-13.3xFinancial
Aug 2014Tim HortonsBurger King Worldwide--14.8xStrategic
May 2014TGI Friday’sSentinel Capital Partners, Tri-Artisan Capital Partners$800M-7.3xFinancial
May 2014Red Lobster Seafood Co.Golden Gate Capital--5.6xFinancial
Jan 2014CEC Entertainment, Inc.Apollo Global Management--7.8xFinancial
Aug 2013KFC IndonesiaDyviacom$492M-14.2xStrategic
Mean-11.0x
Median-10.4x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
Primaryfairness opinionTACO FOPiper Sandler2022$305M-5.3x-​Open
-fairness opinionFRGI FOHoulihan2023--5.3x--Open
-fairness opinionZOE FOPiper Sandler2018$305M-5.3x--Open