In a recent interview, Steve Joyce, the Chief Executive Officer of Dine Brands Global Inc., said that the company is looking to acquire a new restaurant chain and is already in talks with a few.
“We’re looking at a number of different concepts,” said Joyce in an interview. “There are several conversations going on right now.”
Dine Brands Global restaurant empire already has thousands of stores including all the IHOP and Applebee’s locations.
"I want a brand within a year," said Joyce to "Business Insider" in May. "We're going to find the right brand and the right opportunity, but more than likely it's going to be fast-casual. We want to get into a category that's growing faster than the categories we're in."
Joyce also said that the company isn't necessarily looking for an already established chain, instead, the company is hoping to grow a regional brand.
“What we bring to that founder is the opportunity to take their dream from a regional brand to a nationwide, and potentially global brand,” said Joyce.
Darden Restaurants Inc. recently invested $780 million to acquire Cheddar’s Scratch Kitchen. Then in May, Del Frisco’s Restaurant Group, the Irving, Texas-based company known for its upscale steakhouses, announced that it would be acquiring Barteca Restaurant Group for $325 million.
The parent company of Arby's– Roark Capital, which also owns Auntie Anne's, Carvel and Jimmy John's, has made two major acquisitions in the last year. First, Roark acquired Buffalo Wild Wings for $2.9 million. Then it announced at the end of September that it would also be acquiring the fast food chain Sonic Drive-in.
Read more about how Dine Brands Global is aiming to make a big acquisition sooner than later at "Bloomberg."
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