When the Franchisees Start Buying the Franchisors

Welcome to the Franzy Five — your five-minute fix on what’s moving in the franchise world.

This week’s lineup shows how fast the industry is evolving. From multi-brand platforms like &pizza’s new Latitude Food Group to Yadav Enterprises buying Denny’s outright, franchising is shifting toward smarter, capital-efficient growth. Even emerging players like Jeff’s Bagel Run are proving that tech, culture, and lifestyle balance can scale as fast as capital.

Let’s dig into what’s reshaping ownership — and where the next big opportunities are rising.

🥞 Denny’s Goes Private in a $620M Deal

Summary:

• Yadav Enterprises, TriArtisan Capital, and Treville Capital are teaming up to buy Denny’s in a $620 million all-cash deal, ending its nearly 60-year run as a public company.

• The move follows years of traffic declines and store closures, as Denny’s works to reposition itself through remodels, value-driven menus, and digital upgrades.

• Yadav Enterprises—already one of Denny’s largest franchisees with 60+ units—continues its acquisition streak after deals for Taco Cabana, Nick the Greek, and an upcoming Del Taco buy.

Our Take:

This deal marks another major shift in the restaurant M&A landscape, where operators like Yadav are stepping into the investor role. The combination of operating know-how and private equity capital could breathe new life into legacy brands like Denny’s. It also signals a clear trend: top franchisees aren’t waiting for new opportunities—they’re buying the systems themselves.

Breakfast just got a new owner’s table.

Link to Franchise Times →

🌮 &pizza Buys Tijuana Flats to Build a Multi-Brand Platform

Summary:

• &pizza’s new parent company, Latitude Food Group, is acquiring Tijuana Flats as its first step toward building a multi-concept restaurant platform.

• The deal merges two fast-casual brands with overlapping ingredient needs, giving them shared back-office and supply chain efficiencies while keeping marketing and operations separate.

• Tijuana Flats, fresh off a bankruptcy turnaround, brings a value-driven menu, authentic Tex-Mex offerings, and 95 units poised for franchising and expansion beyond Florida.

• CEO Mike Burns said Latitude will ramp up franchising within 60 days and could add more mid-sized regional brands to its portfolio if this integration proves successful.

Our Take:

This move marks another chapter in the rise of platform-style franchising, where operators use shared infrastructure to scale multiple brands efficiently. It’s a smart way to balance independence with synergy — something the biggest private equity restaurant groups have mastered. If Latitude can revive Tijuana Flats and prove the shared-services model works, it could become a serious contender in the next wave of fast-casual roll-ups.

Shared dough, shared tacos, shared playbook — that’s how scale gets built.

Link to Restaurant Dive →

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🥯 Jeff’s Bagel Run Is Rising Fast in Fast Casual

Summary:

• Franchisees like Brian Hess and Enzo Potolicchio credit Jeff’s Bagel Run’s hands-on support and strong leadership for smooth launches and rapid growth across multiple states.

• The brand now has 20+ open locations, 100+ in development, and a system designed to empower first-time food operators through personal guidance, training, and tech.

• Its single-shift model (6:30 a.m.–2 p.m.) and simple, high-quality menu keep operations efficient and margins strong while protecting work-life balance.

• The brand’s proprietary “Au-Dough-Mation” tech platform streamlines communication, baking, and loyalty programs, blending human hospitality with digital precision.

Our Take:

Jeff’s Bagel Run is proving how much operator experience matters when founders stay in the trenches with their franchisees. The combination of modern tech, efficient hours, and a genuine partnership culture has created a blueprint for scalable, lifestyle-friendly success in fast casual.

In a world of burnout-driven brands, Jeff’s is rising early — and rising smart.

Link to Franchising.com →

📰 Other News in Franchising

🏠 Authority Brands Signs 200+ New Franchise Owners in First 10 Months of 2025 (PR Newswire)

📈 Top Franchises of 2025 Outperforming Independent Businesses (1851 Franchise)

☕ Flynn Group Shifts Gears With a 160-Unit 7 Brew Agreement (Franchise Times)