According to the terms of the agreement, Denny's stockholders will receive $6.25 per share in cash.

* Denny's Corporation is the owner and operator of Denny's Inc. and Keke's Inc

* Kelli Valade serves as CEO of Denny's

* The transaction is expected to close in the first quarter of 2026

An investor group consisting of TriArtisan, Treville and Yadav Enterprises, has agreed to acquire Denny's Corporation, a Spartanburg, South Carolina-based restaurant chains operator, in a $620 million take-private deal.

According to the terms of the agreement, Denny's stockholders will receive $6.25 per share in cash.

Denny's Corporation is the owner and operator of Denny's Inc. and Keke's Inc.

"Denny's is an iconic piece of the American dream, with a renowned brand, a strong franchise base and loyal customers," said Rohit Manocha, co-founder and managing director at TriArtisan in a statement. "Our team has significant investment experience in the restaurant industry and our acquisition of Denny's builds on our success with other full-service restaurant concepts."

Kelli Valade serves as CEO of Denny's.

The transaction is expected to close in the first quarter of 2026.

Truist Securities is serving as financial advisor to Denny's Corporation, and Morgan, Lewis & Bockius LLP, Sidley Austin LLP and Caiola & Rose, LLC are serving as its legal advisors. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Denny's Corporation.

Global Leisure Partners LLP is serving as financial advisor to TriArtisan, and Ropes & Gray LLP is serving as its legal counsel.

Choate, Hall & Stewart LLP is serving as Treville's legal counsel.