Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
How Private Equity Is Rolling Up Franchise Restaurant Chains
Private equity has been on a buying spree in the franchise restaurant space, rolling up chains like Dunkin', Panera, and Wendy's. But the strategy isn't just about buying two hundred locations and squeezing costs — it's about a financial engineering play few people talk about: the lease-own arbitrage. Lucas and Luna break down how PE firms use sale-leasebacks to unlock hidden value in franchise real estate, using the 2020 Dunkin' acquisition by Inspire Brands as a case study. They explain why franchisees are often forced out in these deals, how the franchisor changes…
The skinny
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