Twin Peaks stock jumps after announcing acquisition of Florida franchises

Investing.com -- Twin Hospitality Group Inc (NASDAQ:TWNP) stock rose 5.2% on Monday after the company announced plans to acquire eight Twin Peaks franchised restaurants in Florida for approximately $47 million in cash.

The parent company of Twin Peaks and Smokey Bones said it has entered into a letter of intent to purchase the locations from DMD Ventures, LLC. The acquisition includes restaurants in Davie, Fort Myers, West Palm Beach, Pembroke Pines, Hollywood, Cypress Creek, Doral and Naples.

Upon completion, the transaction is expected to contribute approximately $76-$77 million in annual revenue and $9-$10 million in additional annual EBITDA. The company indicated that the incremental EBITDA would help reduce leverage and strengthen its balance sheet.

"We are delighted to bring proven, high-performing franchise locations into our corporate portfolio," said Kim Boerema, CEO of Twin Hospitality Group. "These are some of our top performing restaurants, and Florida has consistently demonstrated strong performance as a key market for Twin Peaks."

The acquisition represents a strategic investment in a key growth market, though the company stated its long-term focus remains on franchise-driven expansion.

The transaction is expected to close in the first quarter of 2026, subject to completion of a definitive purchase agreement, financing and customary closing conditions.

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