In a major shift for one of America’s most recognizable restaurant brands, Denny’s Corporation is set to be taken private in a $620 million acquisition by a group of investors.
The deal, confirmed Monday, marks the end of Denny’s long tenure as a publicly traded company on the NASDAQ.
The transaction will see the consortium acquire all outstanding shares of Denny’s at a premium, reflecting investor confidence in the enduring appeal of the 24-hour diner chain known for its Grand Slam breakfasts and late-night comfort meals.
According to sources familiar with the matter, the decision to go private comes amid a challenging environment for mid-tier restaurant chains, which have been squeezed by rising food costs, shifting consumer habits, and growing competition from fast-casual brands.
Industry analysts suggest that the move could give Denny’s greater flexibility to restructure, streamline operations, and pursue modernization plans without the quarterly pressures of public markets.
Founded in 1953, Denny’s operates more than 1,400 locations across the United States and several international markets.
The brand has remained a staple of American dining culture, catering to a diverse customer base that spans generations.
The deal is expected to close later this year, pending shareholder and regulatory approvals. Once finalized, Denny’s will join a growing list of legacy restaurant chains opting for private ownership to reinvent themselves in a fast-changing dining landscape.
Also Read
Ethereum Price Drops 4.5% as Crypto Market Sentiment Turns Fearful
Nasdaq Stock Market Drops, S&P 500 Stumbles on Bubble Fears