Market Observations - Q4 2017

S&P Global Market Intelligence
Written By: Richard Peterson, Chris Hudgins (S&P Global Market Intelligence), S&P Global Ratings Fixed Income Team
S&P Global Market Intelligence
Written By: Richard Peterson, Chris Hudgins (S&P Global Market Intelligence), S&P Global Ratings Fixed Income Team

In recent trends, we’ve seen merger and acquisition deals in the restaurant industry with transaction valuations exceeding $250 million. The fourth quarter of 2017 was led by M&A with 12,558 transactions, or 41% of the 30,874 individual transactions occurring in the quarter.

Private-equity owned Arby’s Restaurant Group, Inc. recently announced its proposed acquisition of Buffalo Wild Wings, Inc for $2.92 billion. marking another big ticket deal in the U.S. restaurant industry. The deal ranks as the fourth-largest U.S. restaurant deal ever, according to S&P Global Market Intelligence data. Other big restaurant deals last year include Restaurant Brands International Inc. acquiring Popeyes Louisiana Kitchen, Inc. for $1.83 billion and Panera Bread Company’s $7.75 billion purchase by Rye Parent Corp., a subsidiary of JAB Holdings B.V.

Key articles include:

  • Arby’s Restaurant Group, Inc. Deal Propels Restaurant M&A Activity For 2017
  • Global Corporate And Sovereign Credit Outlook: Global Credit Quality Should Remain Largely
  • Stable In 2018, With European Metrics Set To Improve
  • Most U.S. REITs Trading At Discount To Price Targets
  • M&A Transaction Activity By Sector And Geography
  • Top M&A Deals in 2017’s Top Performing Sectors

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