By DEE-ANN DURBIN

Denny’s announced Monday that it is being acquired by a group of investors in a deal that will take the breakfast chain private. The company’s board unanimously approved the agreement, which values Denny’s at $620 million, including debt.

The purchase will be made by private equity investment firm TriArtisan Capital Advisors, investment company Treville Capital, and Yadav Enterprises—one of Denny’s largest franchisees. Under the terms of the agreement, Denny’s shareholders will receive $6.25 per share in cash for each share of common stock they own, totaling $322 million. This offer represents a 52% premium over Denny’s closing stock price on Monday.

Following the announcement, Denny’s shares surged 47% in after-hours trading.

Founded in 1953 in Lakewood, California, Denny’s originally operated as Danny’s Donuts. The name was changed to Denny’s Coffee Shops in 1959 to avoid confusion with another chain. The company began trading on the New York Stock Exchange in 1969.

Like many casual dining chains, Denny’s experienced a significant drop in sales during the COVID-19 pandemic. As restrictions eased, the company faced new challenges, including shifts in customer dining habits and increased reliance on delivery services. Competition also intensified with newer chains such as First Watch promoting healthier breakfast options.

In response, last fall Denny’s announced plans to close 150 of its lowest-performing locations. At the end of the second quarter, Denny’s operated 1,558 restaurants worldwide, including 1,422 Denny’s locations and 74 Keke’s restaurants—the latter brand acquired by Denny’s in 2022.

Denny’s CEO Kelli Valade stated that the company reached out to more than 40 potential buyers and received multiple offers. She emphasized that the board believes the announced deal is in the best interest of shareholders and represents the best path forward for the company.

TriArtisan Co-Founder and Managing Director Rhohit Manocha described Denny’s as “an iconic piece of the American dream” with a strong franchise base and loyal customers. “We look forward to working with Kelli and the rest of the Denny’s team and franchisees to provide resources and support the company’s long-term strategic growth plans,” Manocha said in a statement.

If approved by shareholders, the deal is expected to close in the first quarter of 2026.
https://www.denverpost.com/2025/11/03/dennys-acquired-taken-private/