On Thursday, Twin Peaks, an American restaurant and sports bar chain, will debut on Nasdaq. This is the first restaurant launch of the year.
The debut of the company is significant as it could provide clues about what the initial public offerings (IPOs) market will look like for restaurant companies by 2025.
“Last years IPOs were stronger than in 2023 and we expect more IPOs in 2025 than 2024.” According to Renaissance vice-president Nick Einhorn, this could include a greater number of consumer IPOs.
The two restaurants that are most likely to be the next ones to go public this year are listed below.
Panera Brands
Reimann Family has been interested in selling Panera Brands since several years.
Panera tried to go public in 2021 with an investment from Danny Meyer’s special purpose acquisition company.
The deal was abandoned one year later because of market conditions.
In a confidential filing, the parent company Panera Bread announced its intention to go public in late 2023. It announced a change in leadership last year, which it said was part of preparing for a possible IPO.
Then came the slowdown in consumer spending, which again delayed its plans for a debut.
If Twin Peaks signals a demand for restaurant IPOs over the next few days and weeks, Panera Brands could finally move forward with its long-delayed plans to list on a US stock market in 2025.
Panera Brands generates an annual revenue of close to $5 billion.
Inspire Brands
Inspire Brands, the owner of Baskin Robins Buffalo Wild Wings and Dunkin’, is another name that investors should be watching closely.
In 2018, Roark Capital, an American private equity company, used its acquisitions in order to create a restaurant conglomerate known as Inspire Brands.
Inspire Brands has over 32,000 restaurants in the world, which together generate about $30 billion in sales annually.
Reports last year indicated that Roark had engaged with advisors to prepare for a possible initial public offering (IPO) of Inspire Brands, valued at about $20 billion. Since then, there has been silence.
Pitchbook still counts it among the top fifty private equity-backed firms that could IPO by 2025.
Nick Einhorn, a Renaissance Capital analyst, said in a recent press release that private equity investors will eventually want to exit their positions. IPOs can be a good way to do this.
Inspire Brands’ leadership team is stable, which further confirms that it could have a smooth debut if they choose to do so.
Paul Brown, its chief executive, co-founded the business in 2018. Kate Jaspon, its chief of finance was a key person behind the Dunkin’ IPO in 2011.
This post IPO Watch 2025: These two restaurant chains could go public next may be updated as new information unfolds.
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