Global Foodservice News
Yum! Brands Gets a Boost from New Menu Additions
KFC saw strength in its new chicken sandwich, while Pizza Hut benefited from its Detroit-style pizza, Edge Pizza, and two new offerings featuring plant – base sausage from Beyond Meat, said David Gibbs, chief executive officer, during a July 29 conference call with analysts. Taco Bell kicked off the quarter with the return of the…
Read MoreFor a Second Time, Krispy Kreme could go Public
Krispy Kreme Doughnuts, Inc., a privately held company since 2016, has proposed an initial public offering of its common stock. The company on May 4 reported it confidentially had submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission. An IPO should take place after the SEC completes its review process,…
Read MoreWelbilt agrees to be acquired by Ali Group, after cash bid was deemed ‘superior’ to Middleby’s all-stock bid
Welbilt Inc. WBT, 0.13% announced Wednesday an agreement to be acquired by Ali Group S.r.l. in a cash deal that values the foodservice equipment company at about $3.40 billion. Under the terms of the agreement, Italy-based Ali Group will pay $24 for each Welbilt share outstanding. Welbilt had about 141.92 million shares outstanding as of…
Read MoreSubway Unveils ‘Monumental Updates’ to Entire Core Menu
Subway restaurants announced historical changes and improvements to almost every core item on their menu, as well as digital upgrades to elevate guests’ experiences. The “Eat Fresh Refresh” menu makeover will begin July 13, after participating restaurants close for one day to prepare for the changes. The 20-plus menu updates include 11 new and improved…
Read MoreLawmakers Ask USDA, DOJ to re-Examine Pork Line Speed Ruling
A group of 70 congressional lawmakers, led by Senator Chuck Grassley (R-Iowa) and Representatives Jim Hagedorn (R-Minn.) and Dusty Johnson (R-SD), penned a letter recently that urged the US Department of Agriculture and the Department of Justice to pursue legal action and push back on a recent federal court ruling regarding US pork processing plants’…
Read MoreBallyhoo Hospitality’s Ryan O’Donnell on the Confidence that Comes from Surviving a Crisis
There’s a certain confidence that comes from surviving a crisis. At least that’s how Ryan O’Donnell sees it, as he prepares to open two new Chicago-area restaurants this year. O’Donnell is co-founder of Ballyhoo Hospitality with his wife Anna O’Donnell. The group operates five independent concepts, including two that opened during the pandemic shutdown. Coming…
Read MoreBiden Issues Executive Order Encouraging Federal Action to Limit or Ban Non-Compete Agreements
On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy, which encourages the Federal Trade Commission (“FTC”) to employ its statutory rulemaking authority “to curtail the unfair use of non-compete clauses and other clauses or agreements that may unfairly limit worker mobility.” Executive Order, Section 5(g). While the…
Read MoreThe Globally Inspired Menu at Popular Reflects New York City and all Three Chef’s Influences
Ian Schrager, co-creator of Studio 54 and well-known hotelier, has unveiled the newest restaurant at Public in NYC: Popular, complete with Peruvian fare and headed by chefs Diego Muñoz and John Fraser. The restaurant, along with a new cantina/bar and a gourmet food bazaar, opened to the public last week. “Never before have two chefs…
Read MoreThe new CMO replaces Rani Yadav, who Left in March
Union Square Hospitality Group has named Marissa Freeman its new chief marketing officer, replacing Rani Yadav. Freeman most recently was a chief brand officer at Hewlett Packard Enterprises, spearheading the launch of that brand as one of the companies that were created when Hewlett Packard split in two in 2015 (the other was HP Inc.)…
Read MoreCanadian Concept Plans to Open First U.S. Unit in New York City this Year, with more to Come
A plant-based quick-service concept newly named Odd Burger has big plans to cross the Canadian border into the U.S. this year to plant its flag. Now officially named Odd Burger Corp. as of Tuesday, the Toronto-based parent company was previously known as Globally Local Technologies Inc. It went public in Canada in April, raising $4.2…
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