By Katherine Hamilton

Denny's has agreed to be taken private in a $322 million deal, led by the private-equity firm behind P.F. Chang's and TGI Fridays.

Denny's stockholders will receive $6.25 a share in cash for each Denny's share, a 52% premium to its closing stock price on Monday.

In an all-cash deal, three entities are working together to buy the diner chain: New York-based private equity company TriArtisan Capital Advisors, alternative asset investment firm Treville Capital Group, and one of Denny's largest franchisees, Yadav Enterprises.

Denny's received indications of interest from TriArtisan and conducted a review of strategic alternatives, Denny's Chief Executive Kelli Valade said. As part of the review, Denny's reached out to more than 40 potential buyers and received multiple offers, Valade said.

Denny's board of directors has unanimously approved the deal, which is expected to close in the first quarter of 2026.

TriArtisan's portfolio also includes Chinese-food chain P.F. Chang's, the parent company of Hooters and the burger joint TGI Fridays. Yadav, which is led by Anil Yadav, owns and operates 550 restaurants nationwide and is among Denny's biggest franchisees.

The stock has lost about a third of its value this year and, in February, hit a 12-year low after quarterly sales declined. In recent quarters, Denny's reported slower sales and said its customers were cutting back on visits because they were feeling financially pinched.

Denny's shares jumped 47% to $6.08 in after-hours trading Monday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

November 03, 2025 18:19 ET (23:19 GMT)

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