Steve Joyce is hungry for an acquisition, at the right price.
"We want to look at a chain that is less than 100 units because in today's market, you are going to overpay -- I am OK overpaying for 70 units, I am not OK overpaying for 700," Joyce, the new CEO of Dine Global Brands (DIN) , told TheStreet. Joyce said he is most interested in an emerging fast casual restaurant chain.
Holding Dine Brands back somewhat on making a huge purchase is its heavy debt load of $1.3 billion, mostly dating back to the purchase of Applebee's in 2007.
Dine Brands, formerly called DineEquity before a re-brand revealed on Wednesday, certainly has a pool of next generation restaurants to mull over. The company could go the pizza route and gobble up the fast-growing, better ingredient player Blaze Pizza. Or, it could splurge to get into the burger scene with Shake Shack (SHAK) . The better burger chain has seen its stock slip 18% since the all-time high hit around its 2015 IPO.
TheStreet recently asked Coca-Cola (KO) CEO James Quincey about his appetite to do deals. Watch what he said below.