ORLANDO, Fla. – The South Carolina-based diner chain Denny’s has purchased Orlando-based chain Keke’s Breakfast Cafe in an $82.5 million deal.
Denny’s announced the purchase Tuesday in a news release detailing its first-quarter earnings.
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According to the release, Keke’s has 52 restaurants — 44 franchise locations and eight company-owned restaurants.
Keke’s will continue to operate independently, according to the release, with its own leadership, strategies, products, marketing, operations and development initiatives.
“Today we announced the anticipated acquisition of Keke’s Breakfast Cafe, which we believe can drive incremental growth that complements the Denny’s brand,” John Miller, CEO of Denny’s, said in a statement. “Keke’s is a high-growth brand that aligns well with our core competency while providing us with an opportunity to participate in the fast-growing A.M. eatery segment. We intend to utilize the proven capabilities of our franchise-focused business model to develop Keke’s across multiple states with the long-term target of becoming the A.M. eatery franchisor of choice.”
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Keke’s first opened in 2006 and focuses on fresh breakfast and lunch entrees, the release reads.
Denny’s has 1,649 locations with 227 franchise locations.
The deal is expected to close late in the second quarter of 2022.
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