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Bob Evans Restaurants Sold to NovaQuest for Estimated $500 Million

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  Published in Stocks and Investing on Saturday, February 14th 2026 at 21:16 GMT by WLWT
      Locales: Ohio, Kentucky, West Virginia, UNITED STATES

COLUMBUS, Ohio - February 15, 2026 - In a significant shift for the American dining landscape, Bob Evans Restaurants, the beloved farm-to-table chain known for its hearty breakfasts, homestyle meals, and iconic sausage, has been sold to NovaQuest Investment Partners. The acquisition, finalized earlier this week, marks the end of the Post family's decades-long stewardship of the company, while simultaneously setting the stage for a potential new era of growth and innovation.

NovaQuest, a private equity firm specializing in the consumer and hospitality sectors, has acquired both Bob Evans Restaurants and the associated food production business previously under the umbrella of Bob Evans Farms, Inc. While the financial details of the transaction haven't been fully disclosed, industry analysts estimate the deal to be worth upwards of $500 million, reflecting the enduring value of the Bob Evans brand and its established operational infrastructure.

The sale has been a topic of speculation since late 2025, following Bob Evans Farms, Inc.'s strategic review of its assets. The company had signaled an intention to focus more intently on its food production side - namely, the manufacturing and distribution of its signature sausage, sides, and farm-fresh ingredients - while seeking a partner to further develop the restaurant division. This proved to be a shrewd move, attracting the attention of NovaQuest, which clearly recognized the potential for expansion and modernization within the restaurant chain.

What does this change mean for loyal Bob Evans patrons? According to a joint statement released by both companies, the transition is expected to be seamless. Bob Evans Restaurants and the food production business will continue to operate under the established Bob Evans brand, and importantly, the existing leadership team will remain in place. This continuity is intended to preserve the core values and dining experience that have defined Bob Evans for over 70 years.

However, experts anticipate that NovaQuest will bring a fresh perspective and investment capital, likely leading to changes that go beyond simply maintaining the status quo. Possible areas of focus include restaurant renovations, menu innovation - perhaps incorporating more plant-based options or globally inspired flavors - and an enhanced digital presence, including expanded online ordering, delivery services, and loyalty programs. We've seen similar strategies successfully deployed by NovaQuest in other restaurant investments, such as their revitalization of the "The Corner Bakery Cafe" chain.

Bob Evans Farms, Inc., now streamlined, will continue to operate as a publicly traded company, concentrating its resources on its food manufacturing and distribution business. This strategic refocus allows the company to capitalize on the growing demand for high-quality, farm-fresh ingredients not only within its own restaurants but also through wholesale partnerships with other grocery stores and foodservice providers. In recent earnings calls, Bob Evans Farms, Inc. hinted at expanding its product line into new categories, like pre-made family meals and premium breakfast kits.

The Post family, who founded Bob Evans in 1948, expressed both nostalgia and optimism about the sale. "This was a difficult but ultimately necessary decision," said a spokesperson for the family. "We are immensely proud of what we've built, and we are confident that NovaQuest will be a responsible steward of the Bob Evans legacy, ensuring its continued success for generations to come."

While the restaurant industry remains fiercely competitive, Bob Evans possesses a unique advantage: its longstanding reputation for wholesome, family-friendly dining and its commitment to sourcing quality ingredients. The combination of this heritage with NovaQuest's expertise in the restaurant sector could prove to be a powerful formula for future growth. The sale isn't simply a change of ownership; it's a potential catalyst for reinvention, positioning Bob Evans to thrive in an increasingly dynamic food landscape. Industry watchers will be closely monitoring NovaQuest's strategic initiatives in the coming months to assess the full impact of this acquisition on the beloved American restaurant chain.