Latest news with #SizzlingPlatter
Yahoo
03-07-2025
- Business
- Yahoo
Sizzling Platter partners Bain Capital to accelerate expansion
Utah, US-based restaurant franchise platform Sizzling Platter has announced a partnership with private investment firm Bain Capital to drive its next chapter of growth. The investment from Bain Capital North American Private Equity aims to speed up Sizzling Platter's growth in partnership with category-leading restaurant brands. The transaction's financial details remain undisclosed. Sizzling Platter, which operates brands such as Little Caesars and Dunkin', will continue under the leadership of CEO Nathan Garn. Founded in 1963, Sizzling Platter has grown into a significant franchise platform in North America, with 800 locations and a workforce exceeding 13,000. The company's portfolio also includes well-known fast-casual and quick-service restaurant brands Wingstop and Jamba. Garn stated: 'Bain Capital's extensive experience investing in growing restaurant businesses makes it the right value-added partner to help expand our platform.' Bain Capital's Adam Nebesar and Mark Saadine expressed their enthusiasm for the partnership, citing Sizzling Platter's strong brand portfolio and growth potential. They aim to enhance the company's capabilities and foster accelerated growth. Nebesar stated: 'With an exceptional portfolio of category defining brands, deep operational expertise and a proven track record of profitable growth, we believe that Sizzling Platter is uniquely positioned to continue to scale as a global leader in franchising.' Saadine stated: 'We are excited to partner with Nate and the team to build on its strengths and long-term brand partnerships to enhance capabilities and accelerate growth.' BofA Securities and Kirkland & Ellis advised Bain Capital, while UBS Investment Bank and Proskauer Rose provided counsel to Sizzling Platter and CapitalSpring. The deal also saw financial advisory services from Deutsche Bank and North Point, with multiple banks offering committed debt financing. "Sizzling Platter partners Bain Capital to accelerate expansion" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-06-2025
- Business
- Yahoo
Sizzling Platter Prices Offering of $500 Million Senior Secured Notes to Finance Acquisition by Bain Capital Private Equity
SALT LAKE CITY, June 26, 2025--(BUSINESS WIRE)--Sizzling Platter, one of the largest U.S. restaurant franchisee platforms, today announced that affiliates of Bain Capital Private Equity have priced $500 million in aggregate principal amount of 9.500% senior secured notes due 2032 (the "notes"), to fund the acquisition of Sizzling Platter's parent (the "Company") by Bain Capital Private Equity. The affiliates, BCPE Flavor Debt Merger Sub, LLC ("Merger Sub") and BCPE Flavor Issuer, Inc. (the "Co-Issuer") intend to use the net proceeds from the notes offering, together with borrowings under new senior secured credit facilities and equity contributions, to fund the acquisition, repay Sizzling Platter's existing indebtedness and pay related fees and expenses, with the remainder to be used for general corporate purposes. This press release does not constitute a notice of repayment of any outstanding indebtedness of Sizzling Platter. The notes will mature on July 1, 2032, unless earlier repurchased or redeemed in accordance with their terms. The notes offering is expected to close on July 2, 2025, subject to customary closing conditions. Upon consummation of the acquisition, the notes will be guaranteed jointly and severally on a senior secured basis by each existing and future wholly owned subsidiary of the Company (other than the Co-Issuer) that guarantees the Company's obligations under the new senior secured credit facilities, subject to certain exclusions. The notes and the related guarantees were offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The notes and related guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction's securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction's securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the federal securities laws and are subject to various risks, uncertainties and assumptions. All statements that are not historical in nature, and which may be identified by the use of words such as "expects," "plans," "seeks," "anticipates," "strategy," "believes," "intends," "may," "outlook," "forecasts," "goal," "estimates" and other similar expressions or future or conditional verbs such as "will," "should," "would" and "could" and similar expressions (or the negative of such expressions), are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and the expected closing of the offering. Forward-looking statements are made based on our current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated by such forward-looking statements. The Company undertakes no obligation to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events. View source version on Contacts Samuel
Business Wire
26-06-2025
- Business
- Business Wire
Sizzling Platter Prices Offering of $500 Million Senior Secured Notes to Finance Acquisition by Bain Capital Private Equity
SALT LAKE CITY--(BUSINESS WIRE)--Sizzling Platter, one of the largest U.S. restaurant franchisee platforms, today announced that affiliates of Bain Capital Private Equity have priced $500 million in aggregate principal amount of 9.500% senior secured notes due 2032 (the 'notes'), to fund the acquisition of Sizzling Platter's parent (the 'Company') by Bain Capital Private Equity. The affiliates, BCPE Flavor Debt Merger Sub, LLC ('Merger Sub') and BCPE Flavor Issuer, Inc. (the 'Co-Issuer') intend to use the net proceeds from the notes offering, together with borrowings under new senior secured credit facilities and equity contributions, to fund the acquisition, repay Sizzling Platter's existing indebtedness and pay related fees and expenses, with the remainder to be used for general corporate purposes. This press release does not constitute a notice of repayment of any outstanding indebtedness of Sizzling Platter. The notes will mature on July 1, 2032, unless earlier repurchased or redeemed in accordance with their terms. The notes offering is expected to close on July 2, 2025, subject to customary closing conditions. Upon consummation of the acquisition, the notes will be guaranteed jointly and severally on a senior secured basis by each existing and future wholly owned subsidiary of the Company (other than the Co-Issuer) that guarantees the Company's obligations under the new senior secured credit facilities, subject to certain exclusions. The notes and the related guarantees were offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The notes and related guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction's securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction's securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Statements This press release contains statements that are forward-looking statements within the meaning of the federal securities laws and are subject to various risks, uncertainties and assumptions. All statements that are not historical in nature, and which may be identified by the use of words such as 'expects,' 'plans,' 'seeks,' 'anticipates,' 'strategy,' 'believes,' 'intends,' 'may,' 'outlook,' 'forecasts,' 'goal,' 'estimates' and other similar expressions or future or conditional verbs such as 'will,' 'should,' 'would' and 'could' and similar expressions (or the negative of such expressions), are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and the expected closing of the offering. Forward-looking statements are made based on our current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated by such forward-looking statements. The Company undertakes no obligation to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events.
Bloomberg
25-06-2025
- Business
- Bloomberg
Bain Raises About $1 Billion of Debt for Sizzling Platter Buyout
Bain Capital has raised about $1 billion of term loans and bonds to fund its acquisition of Sizzling Platter, a restaurant franchisee that operates locations of chains including Little Caesars, Dunkin', Jersey Mike's and Wingstop, according to people with knowledge of the matter. The $425 million seven-year first-lien term loan priced at 5 percentage points over the Secured Overnight Financing Rate and sold at a discount of 97 cents on the dollar, said one of the people, all of whom asked not to be identified discussing private information.
Yahoo
17-06-2025
- Business
- Yahoo
Bain Capital Private Equity to raise $500m to buy Sizzling Platter
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. 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. Little 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. "Bain Capital Private Equity to raise $500m to buy Sizzling Platter" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
