Global Foodservice News
The Pappas family is Evaluating if they Want to Buy Luby’s Inc
Luby’s board votes to liquidate, dissolve 73-year-old Texas institution, Fuddruckers. The Texas restaurateurs behind Pappadeaux Seafood Kitchen and Pappasito’s Cantina could swoop in and save Luby’s, which earlier this month announced it would liquidate and dissolve the company. Christopher and Harris James Pappas entered a confidentiality agreement with Luby’s on Sept. 11 to obtain the…
Read MoreGolden Gate Capital to sell Red Lobster Seafood Co. to group led by Thai Union
A group of minority shareholders and current management of Red Lobster Seafood Co. is acquiring the casual-dining chain from Golden Gate Capital, the new controlling consortium said. The new owners are seafood supplier Thai Union PCL, which has been a Red Lobster shareholder since 2016 and trades on the Stock Exchange of Thailand under the…
Read MoreTropical 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 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 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 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…
Read MoreMcDonald’s is Testing a New System of Reusable, Returnable Coffee Cups
If you visit a McDonald’s in the U.K. early next year, you might notice a new option if you get a hot drink like coffee or hot chocolate: Instead of a typical disposable cup, you’ll have the choice to walk away with a reusable plastic cup and lid that you can later put in a…
Read More8 Essential Elements of Virtual Sales Training
Sales productivity has never been more important, yet sales teams today face tougher obstacles than ever as the current crisis makes most in-person interactions impossible. Almost 90 percent of sales have moved to a remote model since the pandemic began, according to McKinsey. Almost every B2B company’s products and services are now being sold virtually.…
Read More7 Ways to Enable a Virtual Sales Team
Before March 2020, at least 70% of sales calls were virtual, according to Forbes. With the effects of the current pandemic, that number has skyrocketed. As the country begins to reopen, we’re still far from business as usual—especially for sales teams. In-person meetings, sales kickoffs, and training sessions simply aren’t happening. Many companies face the…
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