1、Internal Use3RESTAURANT M&A VOLUME SUPPRESSED,DEMAND REMAINS INTACT FOR ESTABLISHED BRANDSRESTAURANTS SECTOR UPDATE|JUNE 2025Internal UseTABLE OF CONTENTSKenny GreenDirector303-720-CONTACT OUR RESTAURANTS SECTOR BANKERKey Sector TakeawaysSpending Shifts Across Pricing Tiers Amid Precarious MarketRes

2、taurant M&A Declines,Bankruptcies Continue to RiseBuyers Target Mid-Size Operators&FranchisorsKey Characteristics Draw Premium Valuations in 2025Solutions for Distressed Restaurant BusinessesNotable Restaurant M&A TransactionsSelect TransactionsPublic Restaurant Brands See Share Price VolatilitySect

3、or Public Company Data by SegmentRestaurants Report ContributorsCapstones Proprietary Research Reveals Top Services in DemandEndnotes45678910111314161718Internal UsePreliminary AnalysisFeasibility StudyESOP ImplementationDesign&ExecutionESOP ATransaction AdvisoryInterim ManagementAdvisory ServicesPe

4、rformance ImprovementLitigation SupportFinancial AdvisoryEquity AdvisoryDebt AdvisoryInfrastructure FinanceCapital AdvisorySell-side AdvisoryBuy-side AdvisoryRecapitalizationsMergers&Joint VenturesMergers&AcquisitionsSign Up for Sector Insights.Delivering timely,sector-specific intelligence to your

5、inboxOne of our core capabilities is to deliver sector-specific intelligence designed specifically for sector leaders,private equity firms and their advisors.Our sector reports and featured articles deliver real-time access to key sector data including:Emerging sector trendsAcquirer and investor app

6、etitesMergers&acquisitions market analysisNotable transactionsPublic company dataReceive email updates with our proprietary data,reports,and insights as theyre published for the sectors that matter to you most.A DIFFERENT KIND OF FIRM.BUILT FOR THE MIDDLE MARKET.SubscribeCapstone Partners,a subsidia