Global Foodservice News
Tropical Smoothie Cafe sold to Levine Leichtman Capital Partners
Levine Leichtman Capital Partners has agreed to purchase fast-casual chain Tropical Smoothie Cafe, the Los Angeles-based private equity firm said Tuesday. Management, led by CEO Charles Watson, will remain the same. “We are excited to partner with Charles and the rest of the management team who have led the tremendous growth of Tropical Smoothie Cafe.…
Read MoreFAT Brands completes acquisition of Johnny Rockets from Sun Capital Partners for $25 million
Global franchising company FAT Brands — global franchising company and owner of Fatburger, Hurricane Grill & Wings, and Ponderosa and Bonanza Steakhouses — has completed the acquisition of retro diner brand Johnny Rockets that was first announced in August. The acquisition, which was valued at $25 million, increasing the company’s securitization facility to $80 million.…
Read MoreGLOBAL FOODSERVICE NEWSLETTER – SEPTEMBER 15, 2020 EDITION
Red Robin Gourmet Burgers Adding more Tents for Outdoor Dining even as Indoor Dining Resumes at most Restaurants Understanding the importance and popularity of outdoor dining during the COVID-19 crisis, Red Robin Gourmet Burgers said it plans to add tents to restaurants even as indoor dining resumes at most restaurants. The company plans to outfit…
Read MoreThe private Equity Firm Partnered with Management on the Deal for the Fast-Growing Chain
Private equity firm Levine Leichtman on said it has partnered with management to acquire Atlanta-based Tropical Smoothie Café. Terms of the deal were not disclosed, but the acquisition gives the Los Angeles-based Levine one of the industry’s fastest-growing concepts. Tropical Smoothie has averaged 23% system sales growth over the past five years, including 22% in…
Read MoreRegistration Now Open for 2021 National Restaurant Association Show
The National Restaurant Association Show has opened attendee registration for the 2021 event, to be held May 22-25 at McCormick Place in Chicago. Following the challenges brought on by COVID-19, the Show will provide attendees with exactly what they need—an in-person experience for discovering unique products, creating business connections with key suppliers, accessing education on…
Read MoreHow to Market a Virtual Brand Effectively During the Coronavirus Pandemic
Virtual brands are plentiful now, as both brand-new concepts and pivots from existing companies to survive. The H.Wood Group, based in Los Angeles, has taken existing brands and transformed them into digital concepts while also creating new virtual brands. Oh, and they created a program to schedule and conduct COVID-19 tests. Easy pivots. “We really…
Read MoreMenendez Co-Sponsors Restaurant Bailout Bill
“New Jersey’s normally bustling restaurant and hospitality industry help drive the economy in our local communities,” Menendez said. “The Restaurants Act will help give them the financial relief many need to stay open, keep people employed and drive our economic recovery.” The bill, which has the backing of the National Restaurant Association and the Independent…
Read MoreNew York City Restaurants Can Resume Indoor Dining at one-Quarter Capacity this Month
New York City has been the only region in the state where indoor dining was not allowed during the third phase of its reopening plan, as health officials worried that people eating inside without masks could spread the novel coronavirus. Cuomo said the decision was made following compliance and rule enforcement improvements. He said the…
Read MoreMEG Talks Keep Operators up on Latest Marketing Strategies
Starting this month, MEG will host a series of “TED Talk-like” presentations that address issues associated with the pandemic and how to market businesses effectively in the midst of the crisis. Without question, COVID-19 has changed the industry’s approach to marketing and the messaging operators use to communicate with customers. Customers’ dining needs have changed…
Read MoreHow a Banker Turned Podcaster Is Telling the Stories of Africa’s Cuisines
When co-workers would ask Yorm Ackuaku, “What is African food?” the question irked her, and she didn’t know how to answer. “At that point, I hadn’t traveled outside of West Africa, so I couldn’t speak for the rest of the continent,” she says. “There’s a wide variety of food in Ghana alone. I could only…
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