The $180 million paid by Thomas H. Lee Partners for Papa Murphy's last week is raising some eyebrows in the industry. The "pricey acquisition" could signal private equity businesses' return to the restaurant sector, according to the Wall Street Journal.
 
From the story:
"Still, the Papa Murphy's transaction shows that the deal environment appears to be stacked in the sellers' favor. After a two-year pause, billions of dollars of uninvested private-equity money is sloshing around out there looking for deals. Consumer-focused private-equity types say that there are a limited number of exciting food concepts out there. When a Papa Murphy's goes on the block, buyers are willing to bake in a lot of hope."

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