Global Foodservice News
Where the Restaurant Recovery Goes from Here
A bipartisan group in Congress continues to chase $60 billion in further restaurant aid. A dozen senators and 150 House members sponsored legislation this week to replenish the Restaurant Revitalization Fund, which has faced its share of heat in recent days. The grant program rescinded nearly 3,000 minority- and women-owned applications due to a federal…
Read MoreTaco Cabana Sold to YTC Enterprises
Taco Cabana was sold to YTC Enterprises, an affiliate of Yadav Enterprises, Inc., a Jack in the Box, El Pollo Loco, and Denny’s franchisee. Fiesta Restaurant Group is selling fast-casual Mexican restaurant Taco Cabana to YTC Enterprises, an affiliate of 400-unit, Jack in the Box, El Pollo Loco, and Denny’s franchisee, Yadav Enterprises, Inc. for…
Read MoreRed Lobster Names Kelli Valade as CEO
Kim Lopdrup’s successor joins a casual-dining seafood brand from Black Box Intelligence Red Lobster has named Kelli Valade as CEO to succeed Kim Lopdrup, who plans to retire, the company said Thursday. The Orlando, Fla.-based casual-dining company said Valade, who had served as president and CEO of Dallas-based Black Box Intelligence since 2019, will assume…
Read MoreKrispy Kreme Shares Pop in its Second Public Debut
The doughnut chain began trading Thursday and opened at $16.30 per share, which is about 4% below its initial public offering at $17. Since then, shares rebounded and closed nearly 25% higher on its first day of trading. However, the company’s initial public offering was well below what the company was hoping for — $21…
Read MoreLogan’s Roadhouse Parent to Buy J. Alexander’s for $220 Million
SPB Hospitality, the parent of Logan’s Roadhouse and Old Chicago, announced Friday that it will spend $220 million to acquire J. Alexander’s Holdings. The company is buying the fine-dining brand at $14 per share, which is a 14 percent premium over its closing price on July 1. The transaction is expected to close early in…
Read More8 Ways To Be A Leader That Employees Want To Follow
Being a leader doesn’t mean bossing people around. As a leader, you’re responsible for motivating, educating, and making sure your employees add value to your organization. This requires you to connect with your team, to create an environment that encourages creativity, to understand your own strengths and weaknesses as well as your teams, and accept…
Read MoreJosé Andrés Reveals More About ThinkFoodGroup’s Plans for Chicago
José Andrés’ ThinkFoodGroup is scheduled to make its Chicago debut this summer in a big way with four new concepts, beginning with Jaleo in July. Originally announced in January as part of the “Spanish destination” Andrés is planning in the River North neighborhood, Jaleo will be the first to open, with its menu of tapas,…
Read MoreBuona to Open Dual Concept Store with Rainbow Cone
The Buona Companies, owner and operator of the famous Chicago-based restaurant chain, recently announced the grand re-opening of their restaurant in Darien, Illinois. This location has been undergoing renovations to modernize the space for several months and will be open to the public on July 7th. In addition, when the location reopens, not only will…
Read MoreFamous Dave’s Parent to Buy Village Inn and Bakers Square for $13.5 Million
Famous Dave’s parent BBQ Holdings announced Friday it will purchase Village Inn and Bakers Square for $13.5 million, two months after hinting another acquisition was imminent. The package includes 135 Village Inn restaurants—21 company-owned and 114 franchised—and 13 company-owned Bakers Square locations. The deal is expected to close by the end of July. “We believe…
Read MoreRuby Tuesday appoints 2 execs to the C-suite: George Evans as COO and Kathy Buckley as CFO
Maryville, Tenn.-based Ruby Tuesday has named two new execs to C-suite positions, the company announced Monday. George Evans was promoted from vice president of operations excellence to chief operating officer, and Kathy Buckley joined the company as chief financial officer. “We are pleased to announce the addition of George and Kathy to the Ruby Tuesday…
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