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Deal Detail
Red Lobster Seafood Co. to Golden Gate Capital
EV / LTM EBITDA
5.6x
EV / LTM Sales
-
Enterprise Value
-
Primary Source
Piper Sandler
Comparable Transactions
Restaurants transactions announced in the five years to May 2014. 26 with a disclosed multiple.
| Date | Target | Acquiror | Enterprise Value | EV/Sales | EV/EBITDA | Type |
|---|---|---|---|---|---|---|
| May 2014 | TGI Friday’s | Sentinel Capital Partners, Tri-Artisan Capital Partners | $800M | - | 7.3x | Financial |
| Jan 2014 | CEC Entertainment, Inc. | Apollo Global Management | - | - | 7.8x | Financial |
| Aug 2013 | KFC Indonesia | Dyviacom | $492M | - | 14.2x | Strategic |
| Dec 2012 | Caribou Coffee Company | BDT Capital, JAB Beech, JAB Holding Company | $307M | - | 11.4x | Financial |
| Nov 2012 | Pizza Hut Malaysia | CVC Capital | $956M | - | 7.0x | Financial |
| Nov 2012 | Teavana | Starbucks | - | - | 17.9x | Strategic |
| Sep 2012 | J. Alexander’s Corp. | American Blue Ribbon Holdings | $100M | - | 8.5x | Strategic |
| Jul 2012 | Peet’s Coffee & Tea | JAB Holding | - | - | 22.1x | Strategic |
| Jul 2012 | Yard House USA, Inc. | Darden Restaurants | - | - | 13.3x | Strategic |
| May 2012 | Fogo de Chao, Inc. | Thomas H. Lee Partners, L.P. | - | - | 8.7x | Financial |
| May 2012 | Benihana | Angelo, Gordon & Co. | - | - | 9.1x | Financial |
| May 2012 | P.F. Chang’s China Bistro | Centerbridge Partners | - | - | 8.3x | Financial |
| Mar 2012 | The Krystal Company | Argonne Capital Group | $120M | - | 5.7x | Strategic |
| Feb 2012 | O’Charley’s | Fidelity National Financial | - | - | 6.5x | Strategic |
| Jan 2012 | KFC Malaysia | CVC Capital | $1.0B | - | 9.6x | Financial |
| Dec 2011 | Morton’s Restaurant Group | Landry’s | $182M | - | 6.7x | Strategic |
| Nov 2011 | McCormick & Schmick’s Seafood Restaurants | Landry’s | $133M | - | 6.8x | Strategic |
| Jun 2011 | Arby’s Restaurant Group | Roark Capital Group | $339M | - | 6.4x | Financial |
| May 2011 | California Pizza Kitchen | Golden Gate Capital | $455M | - | 6.9x | Financial |
| Dec 2010 | Noodles & Company | Catterton Partners | $265M | - | 10.4x | Financial |
| Nov 2010 | Bubba Gump Shrimp Co. | Landry’s | $113M | - | 6.5x | Strategic |
| Aug 2010 | Logan’s Roadhouse | Kelso & Company | $577M | - | 7.7x | Financial |
| Jun 2010 | Landry’s Restaurants | Tilman J. Fertitta | $1.3B | - | 7.5x | Financial |
| May 2010 | Dave & Buster’s Holdings | Oak Hill Capital Partners | $570M | - | 6.9x | Financial |
| Apr 2010 | CKE Restaurants | Apollo Global Management | $1.0B | - | 6.5x | Financial |
| Jan 2010 | Burger King NZ | Blackstone | $123M | - | 8.2x | Financial |
| Mean | - | 9.1x | ||||
| Median | - | 7.8x |
All Observations
Source-specific multiples and notes for this transaction.
| Comp | Primary? | Source Type | Source | Source Advisor | Source Year | EV (USD) | EV/Sales | EV/EBITDA | EV/Fwd EBITDA | Note | Citation |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Primary | fairness opinion | CHUY FO | Piper Sandler | 2024 | - | - | 5.6x | - | - | Open | |
| - | fairness opinion | RUTH FO | Jefferies | 2023 | - | - | 9.2x | - | Pro forma for $1.5bn sale-leaseback transaction completed in conjunction acquisition, resulting in pro forma multiple of 4.1x. | Open | |
| - | fairness opinion | DFRG FO | Piper Sandler | 2019 | $613M | - | 5.6x | - | - | Open | |
| - | fairness opinion | PNRA FO | Morgan Stanley | 2017 | - | - | 9.2x | - | - | Open | |
| - | fairness opinion | LTM FO | Wells Fargo Securities | 2015 | - | - | - | - | - | Open |