Meanwhile, openings continue, including the launch of the first unit in Mexico. "Those planned openings such as Mexico would not be affected," by a sale, Ritter said.

Sydney-based Pacific Equity Partners acquired the chain from Worldwide Restaurant Concepts and took it private in 2005. "The Sizzler team has completed a fantastic journey since the buyout of Worldwide Restaurant Concepts," said Pacific Equity Partners managing director Rob Koczkar in a press release. "It has reinvigorated company properties and operations and greatly improved profitability, while reigniting the franchise community and mapping a new path for the brand. With such a strong foundation now in place, Sizzler can be better guided by a partner with more experience and presence in the US market." Sizzler owns or franchises more than 300 restaurants in 17 U.S. states and Puerto Rico, Australia, Japan, Korea, Taiwan, Thailand and China.