High valuations push buyers to smaller restaurants

High valuations push buyers to smaller restaurants

This is part of Nation’s Restaurant News' special coverage of the 2015 MUFSO conference, taking place Sept. 20–22 at the Hyatt Regency at Reunion Tower in Dallas. Follow coverage of the event on NRN.com and tweet with us using #MUFSO. Stay connected on the go by downloading the MUFSO app.

With restaurant companies attracting higher valuations, private-equity groups and other buyers are looking at smaller concepts in earlier stages to find attractive targets, according to a MUFSO panel on the mergers-and-acquisitions market.

“I get the feeling that investors have had to reach deeper and earlier just to find good deals,” said Mike Mravle, CFO of Wingstop, the Richardson, Texas-based chicken wing chain. “We saw that several private-equity groups have invested in con

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