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Dallas-based TGI Fridays plans to go public through acquisition by U.K. franchisee

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Dallas-based TGI Fridays is being acquired by its U.K. franchisee in a $220 million deal.

It’s a $220 million deal that could help breathe life back into the chain after closing 36 restaurants earlier this year.

The Dallas casual dining chain previously planned to go public in 2020 but was thwarted by the COVID-19 pandemic. The acquisition, valued at $220 million, is expected to close in the third quarter of 2024 and will prime the company for the future through increased scale efforts and more robust financial flexibility.“This is a terrific moment for our brand and it’s another step in our transformation that started a few months ago,” said Weldon Spangler, TGI Fridays CEO.

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