Ownership profile
Who owns Denny's?
As of January 16, 2026, Denny's is privately owned by a consortium led by private equity firm TriArtisan Capital Advisors, alongside Treville Capital Group and major franchisee Yadav Enterprises — it is no longer a publicly traded company.
Ownership profile
Denny's
Denny's Corporation (formerly NASDAQ: DENN), now privately held; operating subsidiaries Denny's Inc. and Keke's Inc.
Evidence (10)
Denny's common stock ceased trading on Nasdaq effective at the close of the trading session on January 16, 2026, making it privately held for the first time since 1997
https://www.restaurantbusinessonline.com/financing/dennys-completes-620m-sale-following-shareholder-okStockholders received $6.25 per share in cash; the total deal value was approximately $620 million including debt
https://www.restaurantbusinessonline.com/financing/dennys-completes-620m-sale-following-shareholder-okDenny's board was dissolved post-acquisition and replaced with TriArtisan CEO Rohit Manocha and Yadav CEO Anil Yadav, confirming controlling ownership
https://www.restaurantbusinessonline.com/financing/dennys-completes-620m-sale-following-shareholder-okThe acquisition by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises was completed on January 16, 2026, following stockholder approval and satisfaction of all regulatory conditions
https://www.sec.gov/Archives/edgar/data/0000852772/000119312526015085/d52435dex991.htmAs of late 2025, Denny's operated 1,537 restaurants, of which 1,452 were franchised or licensed — confirming a predominantly franchise model
https://www.citybiz.co/article/795247/dennys-corp-announces-completion-of-acquisition-by-triartisan-capital-advisors-treville-capital-group-and-yadav-enterprises/On November 4, 2025, Denny's announced it agreed to sell itself to TriArtisan Capital Advisors (a PE firm that also owns P.F. Chang's) and Yadav Enterprises in a $322 million deal, taking the company private
https://www.cnn.com/2025/11/04/food/dennys-private-dealDenny's Corporation (NASDAQ: DENN) was the publicly traded parent of Denny's Inc. and Keke's Inc. prior to the 2026 acquisition
https://www.sec.gov/Archives/edgar/data/0000852772/000085277224000087/q32024ex991earningspressre.htmDenny's Corporation's legal history traces to SWT Acquisition Corp. (1988), renamed TW Holdings, then Flagstar Companies, then Advantica Restaurant Group, then Denny's Corporation (2002), incorporated in Delaware
https://www.sec.gov/Archives/edgar/data/852772/000119312505049666/dex31.htmTriArtisan Capital Advisors also owns P.F. Chang's and previously held large stakes in TGI Fridays and Hooters, indicating a pattern of restaurant-sector PE investment
https://www.restaurantbusinessonline.com/financing/dennys-completes-620m-sale-following-shareholder-okThe buyout was financed with $335 million of debt taken on by Denny's — a leveraged buyout structure
https://pestakeholder.org/news/pe-files-002-dennys-gets-scrambled-into-a-private-equity-omelet/What's uncertain
- The exact equity split among TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises has not been publicly disclosed; TriArtisan is identified as the lead PE acquirer but specific percentage stakes are unknown.
- Treville Capital Group has been described by one source as a venture capital firm rather than a PE firm; its precise role in the ownership consortium is not fully detailed in public sources.
- Post-closing corporate structure (e.g., any HoldCo or BidCo vehicles created for the acquisition) has not been disclosed in available public filings as of the investigation date.
- The franchise flag applies at the brand level: the vast majority of Denny's locations are operated by independent franchisees, not by Denny's Corporation itself.