Global Foodservice News
Middleby Acquires United Foodservice
Zhuhai Guangdong China-based United Foodservice is a leader in the design, manufacture, and supply of countertop commercial foodservice equipment with recent annual revenues of approximately $10 million. “This strategic acquisition expands our capabilities in a key global location and high-demand market. We expect continued growth in Asia and this acquisition strengthens our capabilities to best…
Read MoreEmployers can Require COVID-19 Vaccination, but there are Exceptions.
Employers can Require COVID-19 Vaccination, but there are Exceptions. Here’s what you and your Boss Need to Know. Q. Can they require the vaccine? A. The short answer is yes, with some exceptions, attorneys say. The trickier question is whether they should. While many people are eager to get vaccinated, polls show a substantial minority…
Read MoreInspire Brands Completes its $11.3B Acquisition of Dunkin
Inspire Brands completed its $11.3 billion acquisition of Dunkin’ Brands on Tuesday, creating one of the largest restaurant operating companies in the country while giving the Roark Capital-owned company a larger, global reach. Dave Hoffmann, who had been Dunkin’ Brands CEO, was named a special advisor to Inspire CEO Paul Brown and will help guide…
Read MoreRestaurant group SBE’s C3 Acquires 22 Locations of Specialty’s Café and Bakery in Bankruptcy Sale to Convert into new Concept EllaMia
SBE Entertainment Group’s C3 (Creating Culinary Communities) on Tuesday announced plans to convert 22 locations of Specialty’s Café and Bakery acquired in an asset sale into a new brick-and-mortar concept called EllaMia. Specialty’s Café and Bakery Inc., based in Pleasanton, Calif., filed for Chapter 7 bankruptcy on May 27. At the time of closing, the…
Read MoreRestaurant Operators Brace for a Bitter Winter
Vaccines to combat COVID-19 were being rolled out, but it was expected for the next several weeks, though much if not all the winter, pandemic cases, and related deaths may continue to rise. In response, governments at state, county, and local levels were tightening limits on social gatherings, including indoor restaurant dining. Outdoor dining on…
Read MoreCracker Barrel ads new Programs for the Sake of Flexibility
With the marketplace in flux because of the worsening pandemic, Cracker Barrel Old Country Stores is embracing several new initiatives that promise greater flexibility in responding to the shifting realities, including a tweak of its holiday meals program. Executives noted that the managers of its restaurants face a fluid situation that can change drastically, often…
Read MoreJohnny Rockets Owner Fat Brands Merges with Its CEO’s Investment Fund
Fat Brands, the owner of Fatburger and Johnny Rockets, announced it has completed its long-awaited merger with its controlling shareholder, Fog Cutter Capital, the investment firm founded by Fat’s CEO, Andy Wiederhorn. Terms of the deal were not disclosed, but the merger has been in the works for several months and is viewed as a…
Read MoreCalifornia Pizza Kitchen Emerges from Bankruptcy
California Pizza Kitchen has completed its bankruptcy restructuring with an equity transaction that eliminated more than $220 million in existing debt from its capital structure, the company said. The Los Angeles-based casual-dining brand said it “now faces no near-term debt maturities” and that substantially all of CPK’s equity is now held by CPK’s pre-petition lenders.…
Read MorePlant-Based Concept by Chloe Files Chapter 11 Bankruptcy; Goes up for Sale Despite Legal Battle
Blaming the COVID pandemic, the 14-unit plant-based concept By Chloe filed Chapter 11 bankruptcy on Monday and CEO Jimmy Haber stepped down. New York-based parent company BC Hospitality Group Inc. also said it has put the chain up for sale as part of the bankruptcy proceeding. It has also obtained debtor-in-possession financing to continue operations…
Read MoreOn-Premise Restaurant Sales Rates still Lag Last Year, Nielsen CGA says
Data indicate rates of U.S. on-premise restaurant sales remain at about half what they were a year ago for the week ended Dec. 5, according to a Nielsen CGA track of outlets that remained open and operating. New York-based Nielsen CGA’s RestauranTrak data set, released Thursday, found sales velocity in the on-premise channel was down…
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