A consortium comprising TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises has completed the acquisition of US-based restaurant chain Denny’s.

First agreed last November, the all-cash transaction carries an enterprise value of $620m. It closed following approval from Denny’s stockholders and the completion of all required regulatory and customary closing conditions.

As earlier agreed, Denny’s stockholders received $6.25 in cash for each share of Denny’s common stock.

Commenting on the completion, TriArtisan co-founder and managing director Rohit Manocha said: “Denny’s is an iconic piece of the American dream, with a renowned brand, a strong franchise base and loyal customers.

“Our team has significant investment experience in the restaurant industry, and our acquisition of Denny’s builds on our success with other full-service restaurant concepts.”

Denny’s Corporation operates full-service restaurants under the Denny’s and Keke’s brands.

As of 24 September 2025, the Denny’s brand comprised 1,459 restaurants worldwide, including 1,397 franchised and licensed locations and 62 company-operated outlets.

Backed by TriArtisan, Treville and Yadav Enterprises, Denny’s now expects more flexibility and capital to invest in its brands, support franchisees and drive growth.

Denny’s Corporation CEO Kelli Valade said: “Today represents an important milestone for Denny’s and Keke’s as we embark on our next chapter under new ownership.

“Our dedication to supporting franchisees and commitment to serving our guests remain the same. We are grateful for the hard work of our employees and franchisees who represent our restaurants with pride every day.

“With the support of our new owners, we look forward to continuing to serve and delight guests across the nation.”