Dine Brands Global has agreed to acquire Fuzzy’s Taco Shop from Experiential Brands LLC, a subsidiary of NRD Capital Management, for $80M.
Dine Brands is one of the world’s largest full-service dining companies and franchisor of Applebee’s Grill + Bar and IHOP restaurants, with more than 3,400 restaurants combined in 16 countries and 338 franchisees.
Founded in 2003 and based in Fort Worth, Texas., Fuzzy’s is a fast-casual restaurant chain serving Mexican favourites. The company has 138 franchise- and corporate-owned locations in 18 states. Fuzzy’s has long-term development agreements currently in place to nearly double its current restaurant base over time.
“Fuzzy’s Taco Shop is a compelling business with a loyal customer base and a distinct identity,” said John Peyton, CEO of Dine Brands. “It is an attractive asset with a tremendous growth trajectory and will be a complementary addition to our highly franchised portfolio. By adding Fuzzy’s to the Dine Brands family, we are investing in a high-growth concept as part of our longer-term growth agenda, which is aligned with our strategy to build shareholder value.”
