Bain Capital Private Equity is buying US-based multi-brand restaurant franchisee platform Sizzling Platter.
Affiliates of Bain Capital intend to offer $500m in secured notes to fund the acquisition from CapitalSpring.
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Bloomberg reported in April 2025 that Bain Capital planned to buy Sizzling Platter from its parent company Capital Spring for $1bn, including debt.
The affiliates, BCPE Flavor Debt Merger Sub and BCPE Flavor Issuer, plan to utilise the net proceeds from the notes offering, along with funds from new senior secured credit facilities and equity contributions, to finance the acquisition, settle Sizzling Platter’s existing debts and cover related fees and expenses.
Any remaining funds will be allocated for general corporate purposes.
Based in Salt Lake City in the US state of Utah, Sizzling Platter operates 750 restaurants spanning eight brands: Dunkin’, Cinnabon, Jamba, Jersey Mike’s, Little Caesars, Red Robin, Sizzler and Wingstop.
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By GlobalDataLittle Caesars is the largest, with approximately 450 locations in the US and Mexico.
Bain Capital has a longstanding presence in the restaurant industry.
In 2023, it acquired Fogo de Chão and has previously invested in Bloomin’ Brands, Dunkin’ and Domino’s.
In early 2025, Bain Capital also agreed to purchase supermarket chain Seven & i for $5.5bn. The supermarket chain operates Denny’s franchises.
