This is part of Nation’s Restaurant News’ annual Second 100 report, a proprietary census ranking restaurant brands Nos. 101-200 by U.S. systemwide sales and other data. This special report focuses on a smaller, more growth-oriented universe than the Top 100 report.
The restaurant industry is seeing an active market for mergers and acquisitions, thanks to low debt costs and lots of interest from buyers. As such, there was a lot of movement in the Second 100 rankings of the largest companies based on foodservice revenue. Owners moved up and down the list, often with considerable swings, as they bought and sold large swaths of restaurants or convenience stores. Of course, a few continue to grow naturally. Take a look at five notable movers here.