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There’s been a surge of M&A activity in the restaurant industry, particularly within the private equity realm. In a recent episode of our Markets Plus podcast series, we spoke with Christine Johnson, Chief Operating Officer of la Madeleine French Bakery & Café, which has more than 80 locations across the U.S.

Johnson offered her insights on what investors are looking for in an acquisition target, the industry nuances that private equity firms should be aware of, and what acquirers need to know about the differences in ownership models. She also discussed how labor challenges and technology are impacting the restaurant industry.

This episode originally appeared on Table Talk, Levenfeld Pearlstein’s series of discussions with top executives on industry trends and issues.