Bain Capital has struck a deal to acquire restaurant platform Sizzling Platter from fellow private equity firm CapitalSpring in a transaction valued at over $1bn, including debt, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The transaction was disclosed to Sizzling Platter bondholders on Wednesday, the sources said, requesting anonymity due to the confidential nature of the talks.
Jefferies and UBS are providing committed financing for the buyout, underscoring continued appetite among lenders for sponsor-backed transactions in the consumer and franchise restaurant space – even amid recent market turbulence sparked by global tariff announcements.
Boston-based Bain Capital and CapitalSpring reportedly declined to comment on the deal. Jefferies and UBS also declined to respond.
Founded in Salt Lake City, Sizzling Platter operates a diversified portfolio of fast-casual and QSR franchises including Dunkin’, Jersey Mike’s, Wingstop, Little Caesars, Cinnabon, Red Robin, and Jamba, among others. According to Bloomberg data, the company has a $350m secured bond maturing in November 2024.
The acquisition marks Bain Capital’s second major transaction since the announcement of sweeping trade tariffs by US President Donald Trump, which have disrupted several M&A financings. Earlier this week, Bain also agreed to acquire HealthEdge from Blackstone, signalling the firm’s willingness to continue deploying capital in volatile market conditions.
