Bain Capital is in negotiations to acquire Sizzling Platter, a company that operates several restaurant franchises including Little Caesars and Jersey Mike’s, for over $1bn, including debt, according to a report by Reuters.
The report cites unnamed sources as revealing that Utah-headquartered Sizzling Platter, which is owned by CapitalSpring, and also manages franchises such as Dunkin’, Wingstop, and Jamba, has reportedly been working with investment bankers from UBS and Deutsche Bank for several months on the sale process.
Sizzling Platter is reportedly projected to generate approximately $175m in earnings before interest, taxes, depreciation, and amortisation (EBITDA) this year.
Sizzling Platter operates over 750 locations in the US and Mexico, with franchises like Red Robin, Cinnabon, and Sizzler. Originally founded in 1963 with a single Sizzler location, the company now operates approximately 450 Little Caesars outlets across both countries.
