Bain Capital has reached an agreement to acquire Sizzling Platter, a leading multi-brand restaurant platform, from fellow private equity firm CapitalSpring in a transaction exceeding $1bn including debt, according to sources cited by Bloomberg.

The deal, which was communicated to Sizzling Platter bondholders earlier this week, marks Bain Capital’s second major transaction since the recent wave of global trade tariffs introduced by U.S. President Donald Trump, which has disrupted multiple M&A financing processes.

Despite these headwinds, Jefferies and UBS have committed to finance the buyout, underscoring continued lender appetite for sponsor-backed deals in the consumer and franchise restaurant segment.

Based in Salt Lake City, Sizzling Platter operates a highly diversified portfolio of fast-casual and quick-service restaurant (QSR) franchises including Dunkin’, Jersey Mike’s, Wingstop, Little Caesars, Cinnabon, Red Robin, and Jamba. The company has a $350m secured bond maturing in November 2024, according to Bloomberg data.

The acquisition reaffirms Bain Capital’s willingness to deploy capital in market environments defined by heightened uncertainty. It follows closely on the heels of the firm’s agreement to acquire HealthEdge from Blackstone, signalling a strategic push across consumer and healthcare verticals.

Both Bain Capital and CapitalSpring declined to comment on the deal, while Jefferies and UBS also did not provide a response.

The Sizzling Platter transaction adds to a growing list of private equity-led investments in branded restaurant platforms, an area seen as resilient and scalable through macroeconomic cycles. Bain’s move reflects strong conviction in high-performing multi-unit franchise models that can drive growth through operational leverage and brand partnerships.