Global Foodservice News
NPD Group’s David Portalatin Said Sales are Moving in the Right Direction
NPD Group’s David Portalatin said sales are moving in the right direction, but challenges persist as operators navigate a new operating environment. While the verdict is still out on how the recent surge in COVID-19 cases due to the Delta variant will affect the foodservice business, restaurant performance has shown encouraging signs of a recovery.…
Read MoreBimbo Profits Hit all-Time High
Having hit new highs in financial results during the company’s second-quarter, Grupo Bimbo SAB de CV is determined to protect profit margin improvements, said Daniel Servitje, chairman and chief executive officer. Toward that end, the company is taking a number of steps, including raising prices in North America during the current quarter, he said. Overall,…
Read MoreHouston chef Chris Williams Launches Lucille’s Hospitality Group with Plans for Four New Concepts by 2022
Last year, when then Presidential contender Joe Biden came to Houston to pay respects to the family of George Floyd — whose death at the hands of police sparked a national social justice movement — they shared a meal at the beloved restaurant Lucille’s. Founded in 2012 by chef Chris Williams with his brother Ben…
Read MoreAlvaro Perez Miranda Plots Two new Concepts to Bring a True Taste of Japan to Miami
The Miami restaurant scene is on fire and Japanese cuisine, in particular, is in high demand. The time is right for Alvaro Perez Miranda, who is building a small group of beautifully designed restaurants that offer a true taste of Tokyo. The restaurateur with Venezuelan roots spent 15 years living in Tokyo, where he first…
Read MoreCarl’s Jr. Adds Another Beyond Burger Option
Inspired by the flavors of Carl’s Jr.’s Western Bacon Cheeseburger, the Beyond BBQ was “developed to complement the Beyond Burger patty” and is an “indulgent flexitarian option that turns barbecue on its head with a plant-based spin,” Carl’s Jr. said. The burger features a Beyond Burger patty topped with Carl’s Jr. original barbecue sauce, American…
Read MoreYum! 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’…
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