Banyan Acquisition completes merger with Pinstripes to form Pinstripe Holdings
May 21, 2024•over 1 year ago
Acquiring Company
Banyan Acquisition
Acquired Company
Pinstripes
NorthbrookConstructionDescription
Banyan Acquisition merged with Pinstripes in December to form Pinstripe Holdings, a wholly owned subsidiary of Banyan. This merger resulted in over $70 million to support strategic growth plans and additional locations for Pinstripes, with a senior secured loan from Oaktree Capital Management. The equity value of the deal was approximately $480 million, and Pinstripes has plans to open 10 more venues in 2024.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed