Bain Capital Private Equity to acquire Sizzling Platter in US$500M secured notes deal

USA – Bain Capital Private Equity has announced plans to move forward with the acquisition of Sizzling Platter, a prominent U.S.-based multi-brand restaurant franchisee platform, in a transaction supported by US$500 million in secured notes.

The deal, structured to purchase the company from CapitalSpring, will be financed through a combination of these secured notes, new senior secured credit facilities, and equity contributions from Bain Capital affiliates.

The capital raised will be used to complete the acquisition, repay existing debt, cover transaction-related fees, and fund general corporate purposes.

Sizzling Platter operates approximately 750 restaurants across eight well-known brands, including Little Caesars, Wingstop, Dunkin’, Jersey Mike’s, Cinnabon, Red Robin, and Sizzler.

This acquisition aligns with Bain Capital’s strategic focus on the restaurant industry, complementing its existing investments in major brands like Bloomin’ Brands, Dunkin’, and Domino’s.

Bain has demonstrated a consistent commitment to the sector, having acquired Fogo de Chão in 2023 and agreed earlier in 2025 to purchase Japan’s Seven & i Holdings, which operates Denny’s franchises.

These moves underscore Bain’s intent to build a diversified and resilient portfolio within the foodservice space.

The US$500 million secured notes, due in 2032, will be guaranteed by subsidiaries of Sizzling Platter and offered primarily to qualified institutional buyers under applicable securities regulations.

Along with other financing sources, these notes will provide the necessary capital to complete the acquisition and manage the company’s capital structure post-transaction.

The acquisition is expected to bolster Bain Capital’s position in the competitive U.S. restaurant franchising market by adding a diversified multi-brand operator to its portfolio.

The deal remains subject to customary closing conditions and market factors but is anticipated to close in the near future.

Through this transaction, Bain Capital aims to leverage its financial resources and operational expertise to drive growth and create value at Sizzling Platter, reinforcing its leadership role in the evolving foodservice industry.

This strategic purchase reflects Bain Capital’s ongoing commitment to expanding its footprint in the foodservice sector, combining financial strength with operational experience to support sustainable growth.

As consumer preferences evolve and the restaurant industry continues to adapt, Bain Capital’s acquisition of Sizzling Platter positions the firm to capitalize on emerging opportunities and deliver long-term value for stakeholders.

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