Dine Brands Agrees to Acquire Fuzzy’s Taco Shop
GLENDALE, Calif. -(BUSINESS WIRE)- December 05, 2022 - Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill + Bar® and IHOP® restaurants, today announced that it has agreed to acquire Fuzzy’s Taco Shop® (“Fuzzy’s”) from Experiential Brands LLC for $80 million in cash. Fuzzy’s is a fast-casual restaurant concept serving Mexican favorites with a Baja twist. The transaction is expected to be immediately accretive to earnings.
Founded in 2003 in Fort Worth, Texas, Fuzzy’s is a category innovator, offering a new twist on Mexican favorites at a value price point. Fuzzy’s is led by a strong management team, including Chief Executive Officer Paul Damico, a 35-year industry veteran at FOCUS Brands, Moe’s Southwest Grill, and Global Franchise Group. Paul has been successful in the sustained growth of the brand and will continue to drive the future of Fuzzy’s under the Dine Brands umbrella.
Peyton continued, “Paul and his team have done a tremendous job creating a solid foundation for the business.”
“I’m incredibly proud of the work the Fuzzy’s team and franchisees have accomplished over the past few years, which has enabled us to enter this new chapter of growth together with Dine Brands,” said Paul Damico, CEO of Fuzzy’s Taco Shop.
Centerview Partners LLC acted as exclusive financial advisor and Sidley Austin LLP acted as legal advisor to Dine Brands on the transaction. Arlington Capital Advisors served as exclusive financial advisor to Fuzzy’s Taco Shop and Cheng Cohen LLC served as legal advisor to Fuzzy’s Taco Shop and NRD Holding Company on the transaction.
SOURCE Dine Brands Global, Inc. and Fuzzy’s Taco Shop
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