Private equity firm Bain Capital is set to acquire 750-unit franchisee Sizzling Platter for more than $1 billion, including debt, according to Bloomberg.
The publication reported this deal was on the table back in December.
The Utah-based company operates over 750 units across Little Caesars (in the U.S. and Mexico), Jamba, Wingstop, Dunkin’, Jersey Mike’s, Cinnabon, Red Robin, and Sizzler. The franchisee was previously owned by CapitalSpring. Its CEO is Nathan Garn, who was promoted in July 2024 after 12 years with the organization. Jefferies Group Inc. and UBS Group AG are providing the necessary financing for this acquisition.
Sizzling has more than 450 Little Caesars units, more than 140 Wingstop units, and more than 90 Jamba units.
The franchisee organization was founded in 1963 after opening a Sizzler location. Over the decades, it began franchising other concepts, most recently Cinnabon and Jamba in 2022.
Bain has offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. The firm purchased Brazilian steakhouse Fogo de Chão in 2023 for an undisclosed amount.
