PE Firms Recapitalize World's Biggest Denny's Franchisee

Law360, New York (September 4, 2013, 5:22 PM EDT) -- A group of private equity firms has purchased nearly half of the world's largest Denny's Corp. franchisee, a move to recapitalize the Arizona company to help grow its top position in the family dining industry.

The firms bought slightly less than a 50 percent stake in QK Inc., which operates 79 Denny's restaurants, the firms announced on Wednesday. Seacoast Capital, Cave Creek Capital Management LLC and Stewart Capital Management LLC invested in the Arizona-based company to help it acquire and build additional Denny's restaurants.

The transaction...
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