The beloved diner chain, Denny’s, which has been offering all-day breakfast to its customers is closing of some of its locations in the U.S. This move follows soon after its $620 million buyout by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises.
Long-standing Diner Closes Multiple Locations After Acquisition
For late-night pancakes, 24/7 coffee, and affordable comfort food, diners turn to Denny’s. Till mid-2025, Denny’s operated dozens of corporate and franchised locations nationwide.
The restaurant chain faced a major shift in early November 2025 with its acquisition by a consortium of investors. The company was acquired by a consortium, TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises. The deal will see every Denny’s shareholder get $6.25 per share, a high premium compared to the pre-announcement market value. The purchase is planned to be completed in the first quarter of the year 2026, and after that, Denny’s will be a privately owned company.
Denny’s CEO Kelli Valade said the acquisition offers clear, immediate value for shareholders after an extensive review of more than 40 potential buyers. The deal reflects the company’s strong foundation and the team’s progress, positioning Denny’s for continued growth under experienced new ownership.
“We are pleased to enter this transaction, which delivers significant, near-term and certain cash value to our stockholders,” said Kelli Valade, Chief Executive Officer of Denny’s Corporation. “After receiving indications of interest from TriArtisan, the Board conducted a thorough review of strategic alternatives to maximize value with the assistance of external advisors. As part of the review, the Company reached out to more than 40 potential buyers and ultimately received multiple offers. The Board evaluated any potential transaction against Denny’s standalone plan and all external strategic alternatives. After careful consideration of all options and in consultation with external financial and legal advisors, the Board is confident the transaction maximizes value and has determined it is fair to and in the best interests of stockholders and represents the best path forward for the Company.”
“Denny’s has a strong foundation as America’s Diner, and I am proud of the important progress we have made across our Denny’s and Keke’s platforms while navigating a dynamic consumer environment,” Valade continued. “This transaction delivers meaningful value to our stockholders and is a testament to the incredible work of our teams and franchisees, who have helped us innovate and meet our guests where they are. TriArtisan and Yadav Enterprises are experienced stewards of leading restaurant brands, and we are excited to work with them as we continue delighting our guests.”
The Journey of Denny’s
Several Denny’s locations have already closed, with more expected to shut down gradually. The closures appear to be an effort to streamline operations under new ownership and focus resources on higher-performing locations.
The brand already closed 88 restaurants in 2024, and 70-90 closures are expected by the end of 2025, as mentioned by Penn Live. This means that patrons will lose their local go-to spot, and the future of many franchises remains uncertain as of now.
Denny’s was established in 1953, and it has since become one of the biggest and well-known chains of diners in the country. The diner, with its trademark booths, red-and-white color scheme, and 24/7 service, quickly became a symbol of the late-night meal and casual meetings.
However, the company has been struggling with financial problems over the past few years, which contributed to their acquisition and a reconsideration of their business model.
Many see the buyout as a move to revitalize the brand, address operational challenges, and adapt to changing consumer preferences. Although the shutdowns constitute a loss to most customers, the company management may adopt a more streamlined and updated approach in the future.
