Bob Evans Restaurant Chain Sold to Private Equity Firm

New owners aim to invest in operations, guest experience, and brand to drive long-term growth.

Published on Feb. 14, 2026

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The family-style breakfast chain Bob Evans Restaurants has been sold by its parent company Golden Gate Capital to private equity firm 4X4 Capital. The current executive team, including CEO Mickey Mills, will remain in place to lead the company. The sale comes as Bob Evans looks to adapt to evolving consumer demands for affordability and variety amid economic uncertainty.

Why it matters

The sale of Bob Evans Restaurants represents a strategic move to position the brand for long-term growth and relevance. As consumer preferences shift and economic conditions remain challenging, the new private equity ownership provides an opportunity to invest in operational improvements, menu innovation, and enhancing the overall guest experience.

The details

Golden Gate Capital, which acquired Bob Evans in 2017, has sold the entire restaurant business to 4X4 Capital. The financial details of the deal have not been disclosed, but the current executive team, including CEO Mickey Mills, will remain in place. 4X4 Capital co-founder Gustavo Assumpção will serve as Executive Board Chair. The sale comes as Bob Evans has worked to adapt its menu and pricing to better meet the needs of its core millennial family customer base amid rising costs and decreased restaurant foot traffic nationwide.

  • Golden Gate Capital acquired Bob Evans Restaurants in 2017.
  • In late 2023, Bob Evans President and Chief Marketing Officer Bob Holtcamp discussed the brand's focus on value and affordability to stay relevant with evolving consumer demands.
  • The sale to 4X4 Capital was announced in February 2026.

The players

Bob Evans Restaurants

A family-style breakfast and country-inspired restaurant chain known for its use of farm-fresh ingredients.

Golden Gate Capital

The private equity firm that previously owned Bob Evans Restaurants, acquiring the brand in 2017.

4X4 Capital

The private equity firm that has acquired Bob Evans Restaurants from Golden Gate Capital in order to invest in and enhance the brand's operations, guest experience, and long-term growth potential.

Mickey Mills

The CEO of Bob Evans Restaurants, who will remain in his role under the new ownership.

Gustavo Assumpção

The co-founder and partner of 4X4 Capital, who will serve as Executive Board Chair of Bob Evans Restaurants.

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What they’re saying

“Together, we look forward to investing in and enhancing our operations, guest experience, and brand — with a continued focus on stability, partnership, and long-term value creation.”

— Mickey Mills, CEO, Bob Evans Restaurants (Press Release)

“Value and affordability are just really key for us, and for the whole industry. Consumers aren't just looking for the lowest price. They love variety and they love affordability, and they'll determine value.”

— Bob Holtcamp, President and Chief Marketing Officer, Bob Evans Restaurants (FSR Magazine)

What’s next

The new ownership under 4X4 Capital is expected to provide additional capital and flexibility to accelerate menu innovation, operational improvements, and pricing strategies at Bob Evans Restaurants.

The takeaway

The sale of Bob Evans Restaurants to 4X4 Capital represents a strategic move to position the iconic family-dining brand for long-term growth and relevance in an evolving consumer landscape marked by demands for affordability, variety, and value.