Major Chain Sold For $620M Despite Recent Closures: See Remaining MN Restaurants

The parent company of diner chain Denny’s was acquired this month in a deal valued at about $620 million, following the closure of dozens of locations in recent years.

Denny’s Corp., which operates Denny’s and Keke’s restaurants, announced Jan. 16 the completion of the acquisition by investment firms TriArtisan Capital Advisors LLC and Treville Capital Group, and Yadav Enterprises Inc., one of Denny’s largest franchisees.

“Today represents an important milestone for Denny’s and Keke’s as we embark on our next chapter under new ownership,” Denny’s Corp. CEO Kelli Valade said in a news release.

The move comes following a dedicated push in recent years by the company to close “lower-volume restaurants,” according to a 2024 results report released in February 2025, which noted that Denny’s shuttered 88 locations in 2024 and opened 14.

The total number of Denny’s restaurants dropped from 1,573 in late December 2023 to 1,459 in late September 2025, at which time the company also had 78 Keke’s restaurants.

As of Wednesday, 12 Denny's restaurants remained in Minnesota, mostly in the Twin Cities area.

The acquisition will provide Denny's with "enhanced flexibility and resources to invest in its brands, support franchisees and accelerate its growth initiatives," according to the news release.

“Denny’s is an iconic piece of the American dream, with a renowned brand, a strong franchise base and loyal customers,” Rohit Manocha, cofounder and managing director at TriArtisan, said in the news release.

“Our team has significant investment experience in the restaurant industry, and our acquisition of Denny’s builds on our success with other full-service restaurant concepts.”