From Tables To Term Sheets

The restaurant sector continues to attract significant M&A activity, albeit with trends varying markedly across geographies. For instance, deal count almost doubled in the UK from 2024 to 2025, whereas the increase in US deal numbers was less pronounced, but with the US having a far stronger start to 2026 than the UK¹. Activity in this sector is in part driven by ongoing market consolidation, evolving consumer trends and, for financial sponsors, the appeal of established brands with scalable operations.

However, acquiring or investing in a restaurant business presents a distinct set of commercial and legal considerations that differ from those typically encountered in other sectors. Below, we set out some of the key areas that a prospective buyer would usually want to carefully consider before proceeding with an acquisition or investment in this space, whatever the jurisdiction or transaction size.