Thread 21698442

Dennys bros the end of an era is here

Denny’s said Monday that it’s being acquired by a group on investors in a deal that will take the breakfast chain private.

Denny’s board unanimously approved the deal, which values Denny’s at $620 million including debt. Denny’s will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital and Yadav Enterprises, which is one of Denny’s largest franchisees.

Under the agreement, Denny’s shareholders will receive $6.25 per share in cash for each share of Denny’s common stock they own, or a total of $322 million. That represents a 52% premium to Denny’s closing stock price Monday.

Denny’s shares jumped 47% in after-hours trading Monday.

https://apnews.com/article/dennys-investors-deal-private-company-f626f6b8c27f29f698a5c823ba855fc3

>>21698442 (OP)
>numbers
>debt
>investment
>shareholders
>numbers numbers
who gives a fuck post about food

>>21698446
Dennys is one of the pillars of food in this country and on this board you stupid fuck.

my grandslam was supposed to be w/sausage

>>21698442 (OP)
>private equity
Ah, one of the most destructive forces on the planet. RIP Denny's.

>>21698449
Where the fuck do you live? Central Nebraska?

>>21698442 (OP)
TriArtisan's holdings currently include TGI Friday's and PF Changs, frankly both pretty much dead companies.
Will Denny's fare any better?

>>21698451
nice family guy ref:)

>>21698449
so post about food from dennys, no one cares how much shareholders are receiving per share

>>21698477
anyone ever have the Lord of the Rings meals back in the day? I always wanted to try em

>>21698452
fucking based
It's about time amerifats learn to cook

What is with public companies going private? Did people finally realise that dancing to the tunes of investors fucking sucks?

>>21698452
man everything that company owns is ass holy shit
those are literally the bottom rung of fast food chains

>>21698487
Yes, but people haven’t realized that going into debt to sell your real estate to the private equity firm and then paying them rent and consultancy fees with tip is a horrible decision.

>>21698442 (OP)
Thankfully the Papa John’s buyout was withdrawn

>>21698708
all that for a plate of eggs at midnight.

>>21698452
The fun part is when you realize they do it to get away with more financial shenanigans that a publicly traded company would be considered unacceptably risky, and then to everyone's surprise someone was committing white collar crime and they get a slap on the wrist while the bank that's left on the hook gets a bailout so the system doesn't collapse

>>21698976
It was never about eggs or pancakes or burgers. It’s about real estate, leveraged assets, potential for growth. Why do people buy stocks in any company?

>>21698452
Denny's is already bottom-barrel, there's literally no where lower for it to go. Go peddle your crocodile tears elsewhere.

>>21699044
I understand all of this. the point what the basic product has morphed into.

>>21698446
>>21698449
two types of people
Sincerely hope the rich guy rapes the poor guy's wife before taking everything the poor "person" owns

>>21699057
who tf are you talking about
stop playing with your dolls and go to bed

Icuckkkz in shambles

>>21699050
Its better than Ihop.

>company is being taken private, meaning it no longer has an insane requirement to grow and can focus on a sustainable affordable business model instead of crazy gimmicks and ever shrinking portions
>This is somehow a bad thing
Never took /ck/ for hyper capitalists

what does nvidia think about this?

>>21698442 (OP)
dennys is shit buy an ad.

>>21698452
It's the opposite. Public corps being slaves to kike investors and "line must go up every quarter" is one of the greatest cancers in western society.

>>21698446
If you had the IQ to fathom what being acquired by private equity means, you'd realize that soon there will be no food. In a year, Denny's will no longer be 24 hours, the food will be worse, it will cost more, and it will close most of its locations while it bleeds dry. Get your fill of whatever items they have that you still enjoy because they probably won't be on the menu for long.

>>21700364
You can always sell food out a food truck because you can’t afford rent for business or housing. You customers can eat outside while more commercial real estate sits vacant.

>>21698451
>>21698452
>>21698474
Nice Baskin Roberts ref

>>21700369
And private equity can always just bleed the company dry until it becomes a hollow husk of its former self before dipping out once the short-term profits stop coming in. Which is what always happens and what will happen here.

>>21698487
Natural economic lifecycle.
People used to love chain restaurants, it assured you that you would know the menu, there would be something for everyone and they had some level of standards.
Now especially sit-down chains have fallen out of vogue largely.
When going for sit down people want small local restaurants that cater to different cuisines or have local beers and spirits and longer wine menus.
On top of that, the investor money started drifting into Tech decades ago and it's been a slow bleed ever since on retail which ultimately includes restaurants.
They're worth more as a pile of assets with a shell of itself made up of the few profitable chains than as a constantly declining stock held by elderly pensioners and vulture capitalists

>>21698472
they own Hooters too
and the answer is no

>>21700364
NOOO NOT MY HECKING MICROWAVED BACON AFTER GETTING PISS DRUNK

>>21698442 (OP)
Denny's era ended when most stopped being 24 hours and when they stopped allowing smoking. It's been over for a long time. There's always a mom and pop type family restaurant with a great breakfast. There's no reason to visit Lenny's (it's Denny's) anymore.
But I do like how every location smells like coffee when you walk in and they have those thick mugs.

>>21698481
No. And we're sick of it being brought up all the time.

>>21700537
Hecking?

KYS

>>21698487
private equity is the financial equivalent of a plague of locusts.
they buy a company out, enshitify the product and service for maximum short term profit, then sell it for scrap and buy another.

>>21700537
Why are you even in this thread if you don't like Denny's? Go loiter somewhere else. Fucking loser.

>>21699897
These private equity firms are as bad or worse than something being public.

>>21699897
The problem is private equity is just like public equity in it's motivations. They mostly view these chains as real estate investments rather than "going concerns" of foodservice. They aren't in it for the long-term health of the ventures and their quality. Things will only change if the day-to-day managers/workers gain significant ownership shares in the business or if stock purchase rules made it so you had to hold investments in these business for 10-15 years or pay 1000% tax.

>>21698449
Lmao

>>21698442 (OP)
>>>/biz/raeli

>>21698481
>back in the day
Denny's' "back in the day" was the 1980s.

>>21698481
I remember the Hobbit meals. The only thing that sticks out was the red velvet pancake puppies, which they had at other times.
I was in Canada on business and it was paid for so I tipped well even though Canada had already moved on from tipping culture, so I was treated really well.
>>21699050
The last time I went to Denny's, I walked out after getting ignored for ten minutes. I drove to the next county to a local truck diner owned by Russian immigrants out of frustration.
I almost never go to restaurants anymore.

>>21701066
>Things will only change if the day-to-day managers/workers gain significant ownership shares in the business
Workers should own the means of production.

>>21701006
i just dont like you mostly

>>21701724
That's a stupid reason to post.

>>21701724
I said go man, get outta here. Leave me to enjoy my Zesty Nachos at any hour.

>>21698472
Cocktail (1988)
Denny's is over.
But I will buy the rights to Hobbit Holes

>>21698487
No that's not it. I mean its true that dealing with public investors sucks, but when these companies go private its usually a shakedown. The group of private buyers that buy up all the shares at a premium typically finance this purchase with a serious of bafflingly conveluded financial instrements that are, often by design, so complicated basically no one other than the consulting firms that design them understand how they work or who the bag holder will be. Deals this size generate tens of millions of dollars in fees for a small number of elite bankers and consultants, kickbacks for the management team, and typically drive the host business into obscurity or worse.

>>21701739
buck coded

>>21699897
Thats not whats going to happen. Do you think the buyer just had 700 million bucks laying around to make this happen? They finance it though various corporate lending schemes that pass the risk onto institutional investors that package retail investments. Then they cut fat to the bone to make the loan payments. And the architects of the scheme dont care what happens to the company because they make a lifetime of money with the close of the deal. Whatever it makes after or when they sell off the corpse is just gravy

>>21698452
Recently my local Dunkin/Baskin Robbins combo store added a "Buffalo Wild Wings GO" sign on the side, I'd wondered how the hell that ended up happening until I saw they're all owned under Inspire brands. Still think it's an odd choice to put a BWW takeout there

>>21698442 (OP)
just went to Denny's for the first time in a long while. It was dead at prime dinner time. wtf. didn't care - it was like mellow and quiet unlike in the past when it would be crowded with families and rugrats making lots of noise. I had the turkey dinner. thanks for reading my blog. please hit like and subscribe.

>>21703188
>valley stream is nearby to manhattan
>just sit in your car for 90 minutes in each direction to order some overpriced tater skins filled with nacho cheese and bacon flavored soy protein
>oh you're not driving?
>climb aboard the LIRR for outrageous ticket fares to sit in uncomfortable seats on slow trains to get shot by colin ferguson so you can eat spinach and artichoke slop
Pass

no private equity no hobbit hole checkmate anarcocapitalism.

>>21698442 (OP)
So Denny's is closing because of niggers and junkies, gotcha

>>21700353
>people lend you money
>be surprised when they ask you to use it responsibly and pay back the loan in a timely manner

>>21699044
I invest in companies who make stuff I use and like, and more importantly whose business forecast I understand as a result.

>>21703357
it was your argument, friend.
>If managers/workers gain significant share of ownership
you have just been awakened to how most of the critiques of public trading come from bad-faith communists trying to prime people for Marxian talking points

>>21703447
>it was your argument
Me telling your worthless socialist ass tk neck yourself was my first post in this thread bub.
Now go fucking neck yourself.

>>21698451
Nice irl reference

Good riddance. IHOP is better anyway.

Diner chains in general seem to be doing poorly. Shari's used to be all over the damn place in the pacific northwest and now most of them have closed. Cracker Barrel sounds like it's not doing great and Shoney's went from 1800 restaurants in the late 90's to just 54 today.

>>21703516
IHOP is just a marginally better Denny's that is smart enough to not be open late so it doesn't get the stigma of being where drunk people go.

>>21703362
You just have to ride a subway for an hour and then get on a bus and sit on that for an hour

>>21703537
That used to not be a stigma but a medal of honor. "This is where you go when you're drunk, have a hearty meal and we'll keep filling up your coffee"
Zoomies once again ruined it, to them going out and getting drunk isn't part of being a young adult. Coffee isn't an energy drink and you can't vape alcohol so why bother.

>>21701697
>I walked out after getting ignored for ten minutes
I ignore the please wait to be seated sign if I'm by myself, especially if it's late night. If you wanted a booth Id understand but I've never had issues walking right up to the bartop and getting served reasonably quickly

>>21703325
How was it big guy?

>>21703537
The only IHOP near me is open 24 hours

>>21703200
yes, this is going to make a lot of people very rich when your hometown Denny's suddenly becomes a rehab facility or a CareNow

>>21703486
You sound like you’re still in high school.

>>21704226
>Zoomies once again ruined it
Boomers are the ones who kept large shitty chains like this alive because they wanted the comfort of "knowing the menu" and eating familiar comfortable food they could rely on no matter where in the country they went. They're the ones too scared to venture out into unfamiliar territory and try different things. Younger folks don't need that crutch and would rather go to the hip new places that just opened or got hyped on instagram or tiktok - nobody cares about grampa's favorite chain.

>>21703362
I live rural and I've absolutely driven 90 minutes to restaurants. Hell, I drive an hour to my doctor's office.