Food & Beverage News

Cracker Barrel Old Country Store Inc. plans to expand its off-premise platforms along with its new Crafted Coffee offerings in the year ahead, company executives said Tuesday after reporting a 4.1 percent decline in fiscal first-quarter profit. The Lebanon, Tenn.-based family dining chain said net income for the third quarter ended Oct. 27 declined 4.1…

Wings. Beer. And Arby’s. Fast-food chain Arby’s Restaurant Group said that it reached a deal to acquire Buffalo Wild Wings, which promotes the slogan “wings, beer, sports” in its advertisements, for $2.8 billion in cash. The deal comes as the casual dining sector is ailing as Americans have rediscovered home meals amid low grocery prices and new…

The owner of Arby’s, Hardee’s and Jimmy John’s has offered to buy Buffalo Wild Wings and take it private, five months after an activist investor won strategic control of the company, the Wall Street Journal reported late. Roark Capital of Atlanta offered about $150 a share, or $2.3 billion, for Buffalo Wild Wings, the Journal…

Panera Bread announced that it had entered into a definitive agreement to acquire Au Bon Pain Holding Co. Inc. With the deal, Panera will acquire more than 300 Au Bon Pain locations around the world. Au Bon Pain is a Boston-based chain that targets people on the go, with most restaurants located in hubs such as malls, hospitals,…

Unilever P.L.C. has entered a definitive agreement to acquire the Tazo tea brand from Starbucks Corp. for $384 million. The transaction includes all assets of the Tazo brand, including its signature recipes, intellectual property and inventory. Starbucks purchased Tazo in 1999 for $8.1 million. “Tazo represents another strategic addition that strengthens our tea portfolio toward…

Yum! Brands Inc.’s stock rose more than 6 percent on improving results at Pizza Hut and the company’s better-than-expected earnings performance. The Louisville, Ky.-based company, which also owns KFC and Taco Bell, said Pizza Hut’s U.S. same-store sales were flat in the third quarter ended Sept. 30.  That was below the performance of rivals Papa…

Stamford, Connecticut-based private equity firm Olympus Partners announced that Sodexo has signed an agreement to acquire Centerplate, a portfolio company of Olympus Growth Fund V, L.P. Centerplate is a global leader in live event hospitality, “Making It Better To Be There®” for more than 116 million guests each year at prominent entertainment, sports and convention venues…

Edward Don & Company, a nationwide distributor of foodservice equipment and supplies, announced today the acquisition of certain assets of Atlanta Fixture and Sales Company, Inc., located in Atlanta, Georgia. Since 1927, Atlanta Fixture has been a leading foodservice equipment and supplies distributor in the Atlanta market and throughout the Southeast Region. Atlanta Fixture will…

Aramark announced that it entered into definitive agreements to acquire two companies that will deliver growth and strengthen the company’s competitive position across its portfolio of Food, Facilities and Uniforms businesses. “Today is an historic day at Aramark as we announce we will join forces with two leading companies that will significantly improve how we…