Industry Updates: Restaurant & Foodservice – June 2014
ARAMARK named Gary Crompton, formerly President of Aramark’s Business Dining Group, as President of Aramark’s Healthcare Hospitality Business.
Auberge Resorts appointed Alison Cumberland as Chief Development Officer.
Boloco hired Alexandra Dunk as Marketing Manager.
Captain D’s hired Lori Osley as Senior Director of Franchise Development; Osley was most recently at Sonic Drive-Ins. Captain D’s also hired Mark Levis as Senior Director of Franchise Development, focusing on development in GA, NC, and SC.
Cosi Inc.’s Executive Chairman Stephen Edwards notified the Board of Directors that he will not stand for re-election as a Director on the Board and will resign all offices and positions with the Board and the Company.
Denihan Hospitality appointed Valerie Ferguson and Edward Maynard as VPs of Operation.
Dickey’s Barbecue Restaurants named Christie Finley as the new Chief Brand Officer.
East Coast Wings & Grill announced the appointment of Jim Overbeck to National Supply Chain Manager.
Einstein Noah Restaurant Group, Inc. announced that COO Emanuel P.N. Hilario has tendered his resignation to the Company.
El Pollo Loco announced the appointment of Dale Burke as VP, Supply Chain Management.
Famous Dave’s of America, Inc. announced the official appointment of Ed Rensi as CEO. The company also announced Richard A. Pawlowski will be named the company’s CFO, effective 6/2/14. Effective immediately, John P. Beckman will become the company’s Chief Accounting Officer. Famous Dave’s of America, Inc. also reported the resignation of Chairman Dean Riesen from the company’s board of directors, effective 6/6/14.
Fazoli’s announced the following promotions: Scott SirLouis was promoted to VP, Company Operations; Doug Bostick to VP, Franchise Operations; Chris Markovich and Patrick Devine to Directors of Company Operations.
Four Seasons Hotels and Resorts promoted Heather Jacobs to Senior VP, International and Corporate Human Resources.
Good Times Restaurants Inc. announced that it has hired Daniel Klehm as Director of Leadership & New Restaurant Development for the planned expansion of the Bad Daddy’s Burger Bar concept in CO and other states.
HuHot Mongolian Grill announced the appointment of Jeff Martin as the company’s new COO. It has also appointed Stephanie Krause as the company’s new VP of Marketing.
Hurricane Grill & Wings named Kevin Kruse its new Chief Development Officer. Kruse was most recently at Einstein Noah Restaurant Group.
Hyatt Hotels Corporation reported that Rakesh Sarna will step down as the Company’s Executive VP, Group President – Americas, effective 6/5/14 and retire on 8/31/14. Senior VP of Asset Management Stephen Sokal will serve as interim Group President – Americas. Hyatt Hotels Corporation also announced that David Udell will serve as Group President – ASPAC, effective 7/1/14.
Ignite Restaurant Group’s Senior VP of Human Resources, Rodney Morris, resigned.
Krispy Kreme Doughnuts, Inc. announced the appointment of Cathleen D. Allred as Senior VP Human Resources and Organizational Development.
La Madeleine Country French Café announced the following new executives and their positions: Lisken Kastalanych, VP of Marketing (formerly with Pollo Campero); Sam Kaufman, VP of Finance; Todd Peacock and Joe Pate, Regional VPs of Operations; Ty Fichtner, Senior Director of Franchise Operations; Darren Bothe, Senior Director of Real Estate for Le Duff America; David Gonzalez, VP of Franchising for Le Duff.
Las Vegas Sands Corp. reported that Michael A. Leven, the company’s President/COO will retire when his contract expires at the end of 2014.
Loews Hotels + Resorts made the following personnel changes: Patrick Berwald joined the Loews Hollywood as Director of Food and Beverage; Darren Pound succeeded Berwald at the Loews Coronado Beach Resort as Director of Food and Beverage; Loews Coronado Bay Resort named Nicolas Bour Executive Chef; Jason Prendergast moved to the Loews Santa Monica as Executive Chef.
Marcus Hotels & Resorts announced that Ted Lorenzi has been named VP of Engineering and Sustainability.
Metz Culinary Management hired Melissa Swida as Director of Purchasing.
Mexican Restaurants, Inc. appointed Douglas Hipskind as CFO and promoted Nancy Cross to Chief People Officer,
MGM Grand Las Vegas hired Abe Berry as Director of Food and Beverage.
Pyramid Hotel Group appointed John Green as its Senior VP, Asset Management.
Real Mex Restaurants announced the promotion of Rio Gueli to COO.
Red Lion Hotels Corporation announced the company has named Brian Quinn as Senior VP and Chief Franchise Officer.
Red Mango Yogurt Café & Juice Bar promoted Craig Erlich to VP of Operations.
Starwood Hotels & Resorts Worldwide, Inc. announced the appointment of Martha Poulter as the company’s new Exec VP and CIO effective 6/23/14.
Target Corp. named Mark Schindele as President of its Canadian operations, replacing Tony Fisher. Target Corp. also named Brad Maiorino as Chief Information Security Officer and hired Kristi Argyilan’s as Senior VP of Media and Guest Engagement.
The Restaurant Source President Michael Schatz passed away on May 16.
The Wendy’s Company announced that Liliana Esposito has been named Chief Communications Officer, succeeding John Barker.
Togo’s Eateries, Inc. hired John Carlson as VP, Franchise Operations and Ed Mananghaya as Senior Director of Supply Chain as well as the departure of Rand Ferris, VP of Operations. Togo’s also announced the following promotions: Renae Scott to Chief Marketing Officer; Todd Peterson to Senior VP of Development; Susan Koch to Senior VP of Finance.
Wal-Mart Stores, Inc. announced the appointment of Greg Penner to the new position of Vice Chairman of the Board of Directors. Wal-Mart also announced the promotion of Shelley Broader to Exec VP, President and CEO of Walmart EMEA.
Wyndham Hotel Group announced the appointment of Josh Lesnick as Chief Marketing Officer.
Isle of Capri Casinos reported net revenues of $954,600,000 for the year ending 4/27/14.
Nathan’s Famous reported total revenues of $82,927,000 for the year ending 3/30/14.
Sbarro LLC emerged from Chapter 11 bankruptcy.
TravelCenters of America LLC reported revenues of $7,944,731,000 for the year ending 12/31/13.
U-Swirl Inc. reported total revenues of $5,529,000 for the year ending 2/28/14.
Mergers & Acquisitions:
American Capital, Ltd. announced today that its portfolio company SMG Holdings, Inc. has acquired Premier Food Services, a provider of outsourced food and beverage services in southern California.
Argonne Capital Group, LLC announced the completion of its previously announced acquisition of On The Border Mexican Grill & Cantina from private equity firm Golden Gate Capital. Argonne Capital partnered with an affiliate of Fortress Investment Group, LLC on the transaction.
Dover Motorsports, Inc. announced that it has entered into a definitive agreement to sell its Nashville Superspeedway facility; closing is expected to take place in the third quarter and is subject to customary closing conditions.
Morgan’s Foods, Inc. and Apex Restaurant Management, Inc. announced the completion of Apex’s acquisition of Morgan’s Foods.
NPC International, Inc. has entered into an agreement with the Carlisle Corporation to acquire 56 Wendy’s restaurants; the units to be acquired are located in NC and VA with a heavy concentration in the Greensboro-Winston Salem, NC area.
United Natural Foods announced an agreement to acquire Tony’s Fine Foods. Consummation of the transaction is subject to the satisfaction of customary closing conditions and is expected to close late in the fourth quarter of fiscal 2014.
Committed Capital Acquisition Corporation, parent of The ONE Group LLC, announced the change of its corporate name to The ONE Group Hospitality, Inc. effective 6/5/14. The company’s common stock will continue trading under the symbol “STKS” on the OTCQB market.
DineEquity, Inc. announced that International House of Pancakes LLC has signed an agreement to open three IHOP restaurants on Guam by 2018.
Driscoll Foods is buying the former home of Quandt’s in Amsterdam, NY.
Great Wolf Lodge celebrated the official grand opening of Great Wolf Lodge New England.
Harvest Restaurant in St. Louis closed 6/15/14 after 18 years in business.
HomeMade Pizza Co. has ceased operations and closed its outlets May 30.
Johnny Rockets announced its intention to enter two new markets this year — Colombia and Tunisia.
Jonathan at Gratz Park, a restaurant specializing in fine dining, will close on 6/28/14.
Landry’s closed SHe by Morton’s.
Noodles & Company opened its 400th location.
Orange Leaf Frozen Yogurt announced it will open its first stores in China sometime this year.
Red Mango is celebrating the opening of its 300th location.
Sbarro LLC disclosed that it would move its headquarters from Melville, N.Y., to Columbus, Ohio.
Starbucks Coffee Company announced it is continuing to broaden the company’s presence in Latin America, sharing new store plans for Colombia, Bolivia and Panama over the course of the next year through licensed agreements with long-time business partners.
Starbucks Coffee rolled out Frappuccino, a food truck, in San Diego and Los Angeles.
Steak ‘n Shake debuted a branded food truck.
The Brewers Association has relocated to 1327 Spruce Street in Boulder CO 80302; the phone number remains 303-447-0816.
US Foods announced it plans to open a distribution center in Seabrook, NH.
Wingstop has opened the first of 50 restaurants in the Philippines.
Baskin-Robbins is currently seeking qualified candidates who are interested in owning and operating an ice cream shop in Canada.
Blaze Fast-Fire’d Pizza restaurant will open its first location in KY in early June
Bojangles plans to open 55 to 60 new restaurants this year, largely focused on its core market of the Southeast, but future growth plans will take the franchise into new markets and nontraditional venues.
Burger 21 says its expansion plans for the Charlotte market call for at least four new restaurants.
BurgerFi is opening its first location in CA.
Capriotti’s Sandwich Shop has announced plans to open as many 20 new restaurants in the Austin area plus as many as 45 new restaurants in the Houston area over the next seven years.
Captain D’s announced that it is embarking on a new growth strategy that will increase the number of company-owned locations.
Dunkin’ Donuts announced the signing of multi-unit store development agreements with four new franchise groups to develop 54 new restaurants throughout Southern CA in the coming years, Dunkin’ Donuts also announced that the company is recruiting franchisees throughout NC, with an emphasis on Raleigh, Greensboro and Charlotte, and Roanoke, VA.
East Coast Wings & Grill announced plans to add nine more Central Florida locations by 2020.
Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, has revealed plans to develop newly-designed, dual-brand Mrs. Fields/TCBY locations in the Phoenix market. Famous Brands is looking to partner with franchisees to open at least 50 new stores in the market over the next five years.
Fazoli’s will open its first on-campus unit at Texas Tech University in Lubbock, TX.
Homestyle Dining LLC, parent to the Ponderosa and Bonanza steakhouse chains, debuted a new fast-casual concept called Bo’s Steak & Grill; it occupies about half the space of either of the steakhouse concepts.
Hurricane Grill & Wings announced the signing of five multi-unit development agreements, representing 22 new locations in AZ, FL, TX, and VA.
Jack in the Box affirmed it expects to open 10 new Jack in the Box locations in the 2014 fiscal year, and reiterated that it expects to open 50 Qdoba restaurants.
Johnny Rockets has enacted growth and development strategies for expanding further into NC, particularly Charlotte.
Krispy Kreme Doughnuts Inc. is seeking for as many as 20 new store locations in the mid-Atlantic spanning from Northern Virginia to Harford County and the chain could eventually expand to as many as 50 shops. Krispy Kreme also announced a development agreement for three Krispy Kreme doughnut shops in WA’s Benton, Franklin and Yakima Counties over the next three years.
Krystal wants to open between 17 and 20 locations this year, and then another 150 new units over the next three years.
Little Greek plans to open additional restaurants in the Dallas area and west-central FL by year’s end.
Meatheads Management opened its first location in IN.
Menchie’s opened its 400th location in Vancouver, BC.
MOD Pizza announced expansion plans for the greater Phoenix area with its first store slated to open in Gilbert next month.
Orange Leaf Frozen Yogurt opened its first ND location.
Penn Station East Coast Subs plans to bring 15 of its fast casual restaurants to Dallas-Fort Worth and signed a 5-unit agreement throughout the greater Atlanta area; the expansion to Dallas and Atlanta is part of a larger plan to open 30 restaurants this year in locations including Chicago, Kansas City and Detroit.
Rita’s Italian Ice opened its first MN location in May. The franchisee plans to open 20 Rita’s locations in the Twin Cities by 2020.
Schlotzsky’s recently announced company plans to expand throughout OK, including Oklahoma City and Tulsa. Company plans call for 10 signed franchise deals in Tulsa and 15 signed deals in Oklahoma City by the end of 2014.
Smashburger announced it has entered into franchise agreements with five new groups who will grow the brand across the U.S. Smashburger has also expanded its agreements with six veteran partners. The combined commitments total 61 new restaurants.
Smoothie King Franchises Inc. announced it is offering reduced royalties and free equipment to franchisees who sign an area development agreement for a minimum of three stores. The new program is part of Smoothie King’s growth strategy to add more than 900 new franchised and corporate stores domestically throughout the next four years.
SONIC Drive-In announced a new franchise agreement that will bring five new drive-ins to the Raleigh-Durham NC market.
SUBWAY is poised to open about 3,000 new locations worldwide this year.
Taziki’s Mediterranean Café announced that it has plans to have 50 locations open or under development by the end of 2014.
The Earl of Sandwich is looking to expand on a large scale with a new 1,800-sq. ft. prototype for future franchises; the company seeks to add 50 to 60 restaurants by the end of 2015, and recently signed deals to develop stores in Phoenix and Qatar.
The Melting Pot Restaurants, Inc. announced that it is actively seeking franchisees to bring its interactive dining experience back to Chattanooga and Anchorage, naming the cities as a target for future franchise development.
Uncle Maddio’s Pizza Joint expects to open 24 more restaurant this year; in the next 90 days, the brand will open nine new restaurants in Fargo and Minot, ND.; Huntersville, NC; Canton, Gainesville, and Loganville, GA.; Mobile, AL.; Austin, TX; and Ashburn, VA. The restaurants in ND, VA and TX mark the first Uncle Maddio’s locations in each state.
Village Inn said six new franchisees have signed on for 12 new units.
Wingstop plans to expand on Oahu in the next several years, beginning with its first two restaurants in Kalihi and Mililani sometime this year.
Houlihan’s Restaurants announced a new partnership with ReCORK, a U.S.-based natural wine cork recycling program dedicated to keeping corks out of landfills and repurposing corks into practical products. Houlihan’s will now recycle every wine cork popped and will also serve as a drop-off recycling center where guests can bring in their natural corks from home.
Las Vegas Sands Corp. was named one of the world’s most environmentally-friendly companies in Newsweek’s annual Green Rankings, appearing at #18. The rankings are based on eight key performance indicators; Energy Productivity, Greenhouse Gas Productivity, Water Productivity, Waste Productivity, Reputation, Sustainability Pay Link, Sustainability Board Committee, and Audited Environmental Metrics. Wyndham Worldwide was #31 on the list.
Marcus Hotels & Resorts, a division of The Marcus Corporation announced the installation of Tesla High Power Charging Stations at the majority of its owned and managed properties across the United States.