Denny’s, the 72-year-old diner chain, will be taken private in a $322 million deal by TriArtisan Capital Advisors — owner of P.F. Chang’s — and Yadav Enterprises, one of its largest franchisees.
The sale, approved by Denny’s board, will end nearly six decades of public trading on the Nasdaq if shareholders approve. Shares jumped 50% on Tuesday, rebounding after losing a third of their value earlier this year.
Denny’s is being taken private and Pizza Hut may be for sale https://t.co/4eCvVrxJyu
— 44News (@my44news) November 4, 2025
Denny’s has faced steep challenges since the pandemic, including declining traffic, labor shortages, and stiffer competition from First Watch and fast-food rivals.
Same-store sales fell 2.9% last quarter, and the chain closed 180 locations in two years.
Meanwhile, Yum! Brands is conducting a strategic review of Pizza Hut, signaling a potential sale after continued poor performance.
The brand saw a 6% drop in U.S. same-store sales, while Taco Bell and KFC reported gains, reflecting Yum’s shifting focus toward stronger-performing chains.
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