Multi-concept franchisee WKS Restaurant Group has purchased 94 Denny’s locations and two support centers, making it the largest franchisee of the Spartanburg, S.C.-based family-dining chain, the franchisee announced Monday.
WKS bought the properties from their previous owner, QK Holdings, LLC, which until the deal had been Denny’s largest franchisee.
Terms of the purchase were not disclosed, but it gives WKS a total of 127 Denny’s restaurants across 10 states.
There were a total of 1,702 Denny’s restaurants, about 90% of which are franchised, as of June 26, the end of its most recent fiscal quarter.
WKS also franchises restaurants under the El Pollo Loco, Wendy’s, Krispy Kreme Doughnuts, Blaze Fist Fire’d Pizza and Corner Bakery Café brands.
“We are excited to welcome our friends from QK into the WKS family. Denny’s is an iconic brand with a great heritage, and we are looking forward to building upon QK’s success,” WKS founder and CEO Roland Spongberg said in a release announcing the acquisition. “This is a great business and opportunity, and we are fortunate to be gaining so many great people with this merger, because it’s the people that make all the difference in creating a momentous experience in the restaurant industry.”
In the most recent quarter, Denny’s same-store sales rose by 3.8%.
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