Denny’s

Denny's is a well-known American restaurant chain that has become synonymous with classic diner fare, offering breakfast, lunch, and dinner around the clock. The company was founded in 1953 in Lakewood, California, by Richard Jezak and Harold Butler, initially as Danny's Donuts. It soon transitioned into a coffee shop and rebranded as Denny's in 1959 to avoid confusion with a similar chain. The brand's expansion took off through franchising in 1963, and by 1981, it had established over 1,000 locations across all 50 U.S. states.

As of November 2024, Denny's operates 1,499 locations worldwide, including in the United States, Canada, Puerto Rico, and select international markets. The company, headquartered in Spartanburg, South Carolina since 1989, continues to grow through a franchise-driven model, focusing on domestic and international expansion. Denny's has shown a keen interest in travel centers, urban in-line formats, and co-branded opportunities, which speaks to its adaptability and strategic growth approach.

A significant milestone in recent years was the acquisition of Keke's Breakfast Cafe in 2022, which marked a strategic move to diversify its offerings and strengthen its presence in the breakfast segment. This acquisition reflects Denny's commitment to evolving with consumer preferences and expanding its portfolio.

In a notable development, Denny's is set to be taken private in a $620 million deal by TriArtisan Capital Advisors, Treville Capital, and Yadav Enterprises, a major franchisee, as of November 2025. This transition from being a publicly traded company is expected to provide new opportunities for strategic growth under private ownership.

For commercial real estate professionals, Denny's is a compelling tenant due to its extensive scale, established credibility, and versatile formats. These include traditional freestanding diners, urban in-line locations, and innovative co-branded concepts. The brand's consistent presence across various markets and its ability to adapt to different site types make it a dependable anchor for retail and mixed-use developments. Denny's ongoing expansion efforts and openness to exploring new markets highlight its enduring relevance in the dynamic restaurant industry.