Recent Restaurants & Hospitality Acquisitions in Michigan
Acquisition Volume in Restaurants & Hospitality in Michigan by Year
Last 5 years
Michigan’s restaurants and hospitality acquisitions span several distinct deal types, from regional casual dining rollups to location-based entertainment venues in Metro Detroit. Recent transactions also include an upscale outdoor operator expanding its footprint via destination-style lodging and a corporate foodservice provider changing hands across multiple states.
Across 2019–2025, a few buyer patterns show up repeatedly: hospitality-focused operators (such as Under Canvas, Inc. and Bowlero Corp.) pursuing physical-asset expansions, and restaurant and LBE platforms backed by investment firms (including ICV Partners, LLC and Memorable Experiences Group) targeting opportunities tied to brands, guest experience, and operating scale.
Deal terms vary by transaction, but many announcements emphasize integration advantages—such as adding locations, extending marketing and systems capabilities, or supporting growth plans—while some deals include disclosed financing components like cash, seller financing, or senior debt.
What Stands Out
- Hospitality operators and platforms are active across Michigan, including casual dining, outdoor lodging, gentlemen’s clubs, bowling, and family entertainment.
- ICV Partners, LLC appears multiple times, including moves connected to Buffalo Wild Wings franchise expansion.
- Deal narratives often highlight scale effects: more locations in the portfolio, expanded regional presence, or operational integration benefits.
- Buyers range from public venue operators (Bowlero Corp., Nasdaq: RICK via RCI Hospitality Holdings, Inc.) to private hospitality investors and platforms.
| Buyer (examples) | Deal focus reflected in summaries |
|---|---|
| ICV Partners, LLC / ICV Partners | Franchise and multi-unit restaurant platform building |
| Bowlero Corp. | Location-based entertainment expansion via new bowling centers |
| Under Canvas, Inc. | Upscale outdoor hospitality acquisition for guest accommodations |
| RCI Hospitality Holdings, Inc. | Entertainment venues adding to operating and marketing capabilities |
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October 29, 2025
- Buyer
- Uncommon Equity LLC, Saxonwold Capital
- Target
- Project BarFly, LLC (d/b/a HopCat), HopCat
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
Chicago-based private investment firm Uncommon Equity LLC has acquired Grand Rapids-based Project BarFly, LLC, which does business as HopCat, a regional casual dining and craft-beer restaurant group operating 12 Michigan locations and one in Lincoln, Nebraska. Financial terms were not disclosed; senior debt was provided by OakNorth Bank PLC and Rob Selati will participate as a strategic investor through Saxonwold Capital as part of the new ownership group.
-
April 2, 2025
- Buyer
- Under Canvas, Inc.
- Target
- The Fields of Michigan
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Addon
Under Canvas, the upscale outdoor hospitality operator, has acquired The Fields of Michigan, a 30-acre blueberry farm near South Haven, MI, with 23 guest accommodations. The property is the first closed acquisition in Under Canvas’s new Outdoor Collection (which also highlights existing properties such as Bar N Ranch) and is accepting reservations for the 2025 season.
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January 22, 2025
- Buyer
- RCI Hospitality Holdings, Inc.
- Target
- Flight Club
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has closed the acquisition of Flight Club, a two-story, 10,000-square-foot gentlemen's club in Inkster (Metro Detroit). The purchase totaled $11.0 million (including $3.0M cash + $5.0M seller financing for the club and $3.0M cash for real estate); RCI expects the club to contribute roughly $2.0 million in annualized adjusted EBITDA and to benefit from RCI's marketing, purchasing and systems capabilities.
-
- Buyer
- Morgan Street Holdings, LLC
- Target
- Continental Services
- Seller
- New Heritage Capital
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
Morgan Street Holdings, LLC has acquired Continental Services, a Midwest corporate foodservice provider, from New Heritage Capital. The transaction represents an exit for New Heritage Capital after a period of organic and inorganic growth at Continental, which operates across multiple states and employs more than 1,500 people.
-
- Buyer
- Bowlero Corp.
- Target
- Thunderbowl Lanes
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
Bowlero Corp. (NYSE: BOWL) has entered into a definitive agreement to acquire Thunderbowl Lanes in Allen Park, Michigan, including the business and the underlying 8 acres of land in an all-cash transaction expected to close in June 2024. The 98,000 sq. ft. facility — the largest bowling center in the United States with 90 lanes and event/banquet space — expands Bowlero’s presence in Michigan and complements its portfolio of location-based entertainment venues.
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January 10, 2022
- Buyer
- Memorable Experiences Group, Pareto & Company
- Target
- Kokomo's Family Fun Center
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
Memorable Experiences Group (MEG), a platform established by investment sponsor Pareto & Company, has acquired Kokomo's Family Fun Center in Saginaw, Michigan. The acquisition is MEG's inaugural platform purchase as it builds a roll-up of family and location-based entertainment centers, with Wintrust providing debt financing and Jordan Knauff & Company advising the deal.
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March 12, 2020
- Buyer
- ICV Partners, Inspire Brands
- Target
- Diversified Restaurant Holdings, Inc.
- Seller
- DRH common stockholders, JK&T Wings
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Buyout
ICV Partners completed a cash acquisition of Diversified Restaurant Holdings, Inc. for approximately $130 million, including assumption of debt and transaction expenses. Concurrently, JK&T executed a 15-store area development agreement and sold certain Buffalo Wild Wings restaurants in Florida and Massachusetts to Inspire Brands; ICV will combine the remaining DRH and JK&T locations to create the largest Buffalo Wild Wings franchisee with over 80 restaurants across five states.
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November 4, 2019
- Buyer
- ICV Partners, LLC
- Target
- JK&T Wings
- Industry
- Restaurants & Hospitality
- Location
- Michigan, United States
- Type
- Growth capital
ICV Partners made a significant investment in JK&T Wings, a leading Buffalo Wild Wings franchisee that owns 42 restaurants across Michigan with additional locations in Massachusetts and Louisiana. The capital will support facility remodels, additional store openings and potential acquisitions of other franchisees, with JK&T management (Kent Ward and Brian Carmody) remaining as investors.
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Frequently Asked Questions
What kinds of hospitality acquisitions are included for Michigan?
The page covers acquisitions across restaurants and hospitality, including casual dining concepts, outdoor hospitality stays, gentlemen’s club venues, bowling centers, and family/location-based entertainment.
Which buyers show up more than once on these Michigan deals?
ICV Partners, LLC/ICV Partners appears in multiple transactions, including activity connected to Buffalo Wild Wings franchise operations.
Are financial terms disclosed in every Michigan deal?
No. Some deals disclose purchase structure and amounts (for example, the acquisition of Flight Club by RCI Hospitality Holdings, Inc.), while others note that financial terms were not disclosed.
Does the page focus only on Michigan-based acquirers?
Not necessarily. Several buyers come from outside Michigan, but the targets and operations are located in Michigan (for example, the HopCat acquisition includes a Michigan-based target operating multiple Michigan locations).