Acquisitions

9 Months Ended

Sep. 28, 2025

Business Combination [Abstract]

Acquisition

(11) Acquisition

During the nine months ended September 28, 2025, the Company acquired 35 restaurants from a franchisee. The Company did not incur any material acquisition-related costs associated with the acquisition and the transaction was not significant to our condensed consolidated financial statements. The table below presents the allocation of the total purchase price to the preliminary fair value of assets acquired and liabilities assumed for restaurants acquired from a franchisee:

	Nine Months Ended
	September 28, 2025 (a)
Restaurants acquired from a franchisee	35
Total consideration paid, net of cash received	$	16,854
Identifiable assets acquired and liabilities assumed:
Properties	6,239
Acquired franchise rights	8,152
Finance lease assets	43,109
Operating lease assets	7,826
Finance lease liabilities	(43,717)
Operating lease liabilities	(7,370)
Other	148
Total identifiable net assets	14,387
Goodwill	$	2,467

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(a)The fair value of the assets acquired are provisional amounts as of September 28, 2025, pending final purchase accounting adjustments. The Company utilized management estimates and consultation with an independent third-party valuation firm to assist in the valuation process.