M&A activity heats up for franchise operators

With franchise operators seeing opportunities for consolidation, a growing number of restaurant locations are changing hands.

Tulsa, Okla.-based Schoenhofer Enterprises, for example, recently announced the sale of 13 KFC franchise locations in Oklahoma to SC Food Group LLC. The buyer is owned by multiconcept operator MBN Brands, which also owns and operates Jimmy John’s, Burger King, IHOP and Little Caesars restaurants.

Denis Schoenhofer, a third-generation franchisee whose family has operated KFC restaurants since Col. Sanders’ early days, said the company is focused on growth in new and existing markets. The Schoenhofers will continue to operate 23 KFCs in Kansas, Colorado, New Mexico, Texas and two cities in Oklahoma: Bixby and Durant.

This sale is among several announced in recent months, though none disclosed terms. Here are a few examples of franchised restaurants changing partners.