Stuart Campbell Heads up Specifi’s Drive for UK Market Share
Former CaterQuotes and Nayati executive joins Specifi in UK as vice president of international sales. Specifi LLC, a global leader in the provision of design and publishing tools to the Foodservice equipment industry, has appointed Stuart Campbell to the post of vice president of international sales. Based in the UK Campbell returns to a part of the industry he helped shape during a six-year period as managing director of CaterQuotes. Explaining the reasons behind taking up his new post Campbell pointed to the growing importance of the world market and the many advantages of Specifi to all areas of the industry. “Those that know me well will be aware of my belief that access to information and the simplification of all business processes is the key to success,” he says. “There is perhaps no better recent demonstration of this here in the UK than the introduction of BIM. The importance of joined up thinking, and an ability to work cohesively and efficiently only works if businesses possess the right tools. As the only global, end-to-end solution supporting the foodservice equipment specification process, I believe Specifi offers the right tools to companies working in every area of the industry. I am looking forward to prospect of working with all UK businesses and bodes, to provide the best solutions possible for their personnel, members, partners and customers.” – Source: Specifi LLC. Our Sincere Apology: We reprint this item with the following correction from the article published in the September 15, 2016, of the American Recruiters Global Foodservice Newsletter: The name of the company is Specifi (not Spedifi as inadvertently misspelled). Thank you!
Lou Malnati’s Sells a Slice to Investor Byron Trott’s Firm
Lou Malnati’s Pizza, which has 46 Chicago-area locations and recently expanded to Phoenix, is taking on a low-key but high-powered investor to help with additional expansion. BDT Capital Partners, an investment and advisory firm headed by former Goldman Sachs investment banker Byron Trott, has taken a stake in Lou Malnati’s. “We held off going out of state for 45 years, because we’re a Chicago company,” said owner Marc Malnati. “Opening in Phoenix was a pretty high investment. We put millions of dollars up to build out a new store, train a crew that had never made pizza before, shipped some of our people out to Phoenix. And when we opened in May, we experienced three-hour waits, people in line in 95-degree heat and excited about it. It was an incredible honeymoon. “But we realized that to create a big enough footprint to thrive out there, we need to add six or eight stores,” Malnati said. “And I realized we’d want to do this again and again, in the next dozen years ago, in a handful of other cities. And instead of my brother, Rick, and I taking all the risk when we move — when you move into another city it winds up being 10 times the risk — we thought it would be great to have a partner to shoulder some of that risk.” Malnati wouldn’t say how large BDT’s stake is, except to affirm that he and brother Rick are the two largest individual shareholders. BDT was a good fit, Malnati said. “Byron Trott is committed to family-owned, closely held companies,” he said. “This (partnership) will create opportunities to have counsel and advice as we calculate our plans for the future. That’s the big idea here.” Trott is best-known for his relationship with renowned investor Warren Buffett, and was a cornerstone in Buffett’s $4.1 billion investment in Goldman Sachs in 2008, when Wall Street was reeling from the financial crisis. BDT, one of the most lucrative private equity firms in Illinois, invests in and advises family and founder-led companies, including Tory Burch, Palatine-based grill-maker Weber-Stephen Products, Chicago’s Wrigley Building, and Peet’s Coffee and Tea. Besides Buffett, Trott and BDT have advised other famous families including the Pritzkers, founders of the Hyatt Hotel chain; and the Waltons, heirs to the Wal-Mart fortune. Don’t expect a slew of nationwide Malnati pizzerias any time soon, Malnati said. “We don’t plant to grow any more aggressively than we have been for the last five years,” he said. “We’ve generally opened one new restaurant a year, and maybe a few carryout locations. I believe this business is all about the people who work in the company, and those people have to have a certain level of experience. We work hard to develop that, but it takes time. So we move slowly.” – Source: The Chicago Tribune.
Former McDonald Exec to Lead Dunkin’ Donuts U.S. and Canada
David Hoffman, a longtime executive with McDonald’s Corp., has been named president of Dunkin’ Donuts U.S. and Canada, effective Oct. 3. Mr. Hoffmann will succeed Paul Twohig who, as previously announced, is retiring and will stay with the company through the end of the first quarter 2017 to ensure a smooth transition. In his new position, Mr. Hoffmann will be responsible for Dunkin’ Donuts operations and marketing in the United States and Canada, as well as global franchising and store development for both Dunkin’ Donuts and Baskin-Robbins. Mr. Hoffman will report to Nigel Travis, chairman and chief executive office of Dunkin’ Brands, and will serve on the Dunkin’ Brands Leadership Team. Mr. Hoffmann began his career with McDonald’s as a crew member while in high school and later re-joined the company, post receiving a degree in master’s in business administration, through its management training program. After holding a series of field operations positions, he moved to the corporate office where he held leadership positions in numerous key functions, including strategy and insights, development, training, operations and supply chain. Since 2008, when he was named vice-president of strategy and franchising in Japan, Mr. Hoffmann has held general management positions covering a range of international markets, including Asia Pacific, the Middle East and Africa. Most recently he added several European markets to his portfolio as president of high growth markets. Prior to McDonald’s, Mr. Hoffmann worked for Arthur Andersen. “Dave is a proven leader with a wealth of quick-service restaurant and franchising experience, and a solid track record of delivering growth in a wide range of economic and competitive environments,” Mr. Travis said. “His financial and industry expertise, combined with his strong talent development skills and experience using digital technologies to enhance the restaurant experience, makes him uniquely positioned to help accelerate Dunkin’ Donuts’ strategic expansion in the U.S. His appointment also further solidifies our Leadership Team and supports our succession planning efforts as we work to position the company for long-term growth.” – Source: FoodBusinessNews.
From one to 1,000? Naugles to Grow Chain After Striking Major Franchising Deal
Thirteen months after making one of the greatest fast-food comebacks in Southern California history, Naugles has announced plans to open up to 1,000 restaurants through franchising. Irvine-based Fransmart, which helps emerging brands expand through controlled franchising, announced the Naugles deal Tuesday. The company is responsible for the growth of top fast-food and fast-casual brands such as Five Guys Burgers and Fries, The Halal Guys and Fountain Valley-based Slapfish. Expansion of Naugles will occur throughout North America in the form of traditional drive-through restaurants, as well as locations inside food halls. Initial locations will open first in Orange County, Fransmart said. Christian Ziebarth, who wrested the Naugles trademark from Del Taco last year, said franchising is the best way to reach people who crave Naugles all over the country. “Because there are many displaced fans, this is our best route to be able to reach them in a timely manner,” Ziebarth said in a statement. “Our growth will still occur at a steady, controlled pace. It’ll take some time to build to 1,000 locations. This will not happen overnight.” The first 100 restaurants are expected to open in the next five to six years. They will be a mix of franchise and corporate-run locations as Ziebarth still plans to run his own restaurants. In 2010, Ziebarth launched a battle with Del Taco over the rights to the Naugles trademark. The Mexican fast-food brand merged with Del Taco in 1988. The Naugles restaurants slowly diminished with the last one closing in 1995. In a petition with the U.S. Patent and Trademark agency, Ziebarth argued Del Taco abandoned the brand years ago, legally allowing him to make a claim. Last year, he won the federal trademark fight, paving the way for Ziebarth and his investors to revive the brand. The first temporary restaurant opened in August 2015 to overwhelming crowds in Fountain Valley. Nostalgic customers stood in line for hours to get a fix of their favorite meals – from cheese burritos to bean-and-meat cups. Ziebarth temporarily closed the Fountain Valley location earlier this year so he could focus on operating a Naugles concession stand in Huntington Beach. Last week, the Naugles’ Facebook page said the beach location would close soon as the tourist season was coming to an end. Though Ziebarth said he would reopen the Naugles in Fountain Valley, he said he eventually had to remove the post as frantic fans misunderstood. Too many people took the statement to mean Naugles was “going away for good,” Ziebarth said last week. – Source: Naugles.
IHOP Hires a New Culinary Leader
IHOP restaurants named Nevielle Panthaky as vice president of culinary. In this role, he is responsible for directing the breakfast leader’s culinary strategy and team, including a sharp focus on refining the signature food and beverage offerings synonymous with the IHOP brand, introducing exclusive promotional menus, and ensuring a robust gastronomic pipeline. Panthaky joins the IHOP team with 15 years of diverse and extensive culinary experience at well-known casual dining brands, fast casual concepts and fine dining establishments. Most recently, he served as vice president, culinary for Wok Holding’s P.F. Chang’s Bistro and Pei Wei Asian Diner, where he oversaw culinary direction and menu execution. During his career, he also made a mark at establishments such as the iconic Hotel del Coronado in San Diego and Union Square Hospitality Group; was responsible for food and beverage innovation and branding at Panda Express; and served as Executive Chef at Milestones Grill and Swiss Chalet, part of CARA Operations. Panthaky will report to Kirk Thompson, senior vice president of marketing for IHOP and will be a key member of the IHOP leadership team. “Nevielle’s proven success in leading culinary teams for global franchised brands and at casual dining concepts brings a unique perspective to IHOP and his leadership ensures our menu remains inspired and contemporary,” says Thompson. “He has the know-how and the creativity to build on the signature foods and beverages that are hallmarks of the IHOP brand, introduce distinctive limited-time breakfast dishes that excite guests, and propel our lunch and dinner menus forward to meet the changing tastes and needs of our guests.” – Source: www.fsrmagazine.com
Tom Brija Retires from Spring USA
Spring USA President and Founder, Tom Brija, has retired from his full time role with the Company, but will continue to serve the organization in a consultative fashion, to ensure a smooth leadership transition and provide continuity for the business. Kristine Holtz has joined the company as President and CEO. A long time food industry executive, Kristine most recently served as CEO of Market Day, a distributor and marketer of food products benefiting schools and community organizations. She has also held leadership positions with H.J. Heinz and Appetizers And, Inc. Ms. Holtz has over 20 years in the food industry. The remainder of the Spring USA Management Team will continue with the company in their current capacities. In conjunction with the leadership transition, Spring USA received a growth investment from ShoreView Industries, an investment firm based out of Minneapolis, MN. – Source: Spring USA.
Chemstar Corporation Enters into Agreement to Purchase Sterilox
Chemstar Corporation announced that it has entered into a definitive purchase agreement to acquire the assets of Sterilox Fresh, the leading manufacturer of electrolyzed water technologies for the supermarket retail and food service industries. The company which is headquartered in Malvern, PA is a division of PuriCore Inc., a healthcare company. The purchase is subject to PuriCore shareholder approval and other requirements. The Sterilox Fresh brands including Sterilox® generators, Produce Maxx™, FloraFresh® and are in thousands of leading supermarkets across the US and Canada, focusing on the fresh perimeter departments, enhancing quality and customer satisfaction of perishable foods. Tom Daniel, Senior VP and General Manager of PuriCore’s Supermarket Retail Business, Sterilox Fresh, along with members of his team, will join Chemstar and continue operating and promoting these successful brands. It is therefore expected that current customers and partners would experience minimal interruption of service or support during the transition. Chemstar a privately held company in the Atlanta, GA metro area is a market leader in the Food Safety sanitization business, supporting thousands of stores and warehouses in the supermarket and convenience store channel. “Sterilox is a highly respected, industry leading brand in the food retail sector with a reputation for innovation. Sterilox offers unique products and systems to help customers improve safety, sanitation, labor productivity and customer quality,” said Dan Barney, CEO of Chemstar. “Sterilox is a strategic fit with our growth platform, complementing our existing brands with a very strong portfolio in the fresh departments.” We are excited about the company’s past record of growth and its strong market position for future growth, which will be further enhanced within the broader Chemstar team.” – Source: Chemstar Corporation.
Cameron Mitchell Restaurants Opening Marcella’s in Denver
Cameron Mitchell Restaurants, LLC announced that its award-winning Italian restaurant, Marcella’s, will open its third location in Denver’s Lower Highland community (LoHi). The restaurant is set to open in summer 2017 and will be the company’s first location under this concept to open in Colorado. “Expanding our Marcella’s concept is something we’ve aspired to do for a long time,” says David Miller, president and chief operating officer, CMR. “We waited until we found a location that would complement the concept and provide guests with a unique dining experience they didn’t have nearby.” Miller said Denver’s Lower Highland neighborhood is very similar to Columbus’ Short North Arts District and is one of three distinct districts that make up the Highland community with boutiques, restaurants and galleries. Marcella’s is a bustling Italian café, inspired by Italian wines, handcrafted cocktails and authentic, Old Italian recipes featuring only the freshest and highest quality ingredients. Guests will enjoy generous Italian food portions in a fun, lively and casual environment—perfect for sharing a meal with family or friends, or for a late night snack. Signature dishes from Marcella’s include wood-fired pizzas, pastas, lasagna alla Bolognese, chicken Marsala, veal limon and the ever popular Marcella’s braised veal meatball. The energetic bar provides a vibrant venue for sampling from a selection of 50 Italian wines served by the bottle or quartino. The Lower Highland location will seat approximately 165 guests inside and 42 on the patio. The 5,250-square foot restaurant and terrace will overlook downtown Denver. The restaurant will be located in Lower Highland’s 18th and Central Project, which represents a 317-unit multi-family development comprised of 227 units located in building one and 90 units in building two. Upon completion in 2017, the project will include approximately 8,808-square feet of ground floor retail and restaurant space with four levels of residential living space located above. – Source: www.fsrmagazine.com.
Yum! Brands Eyes Growth after China Division Spinoff
The Yum Brands Inc. board of directors has approved the separation of Yum China, the company said, paving the way for the deal to be finalized by Oct. 31. Yum! Brands and its investors hope that the deal paves the way for more growth for both companies that will emerge from the spinoff. “We are moving full steam ahead with the separation of Yum China, establishing two powerful, independent and focused growth companies dedicated to building on our brand strengths and unlocking the full value of each business for our shareholders,” Yum! Brands CEO Greg Creed said in a statement. Yum! Brands, the Louisville, Ky.-based operator of KFC, Taco Bell and Pizza Hut, is splitting off its China business, which is primarily company owned. The rest of Yum! Brands is mostly franchised. Although franchising generates higher profit margins, operating restaurants generates more revenue and more dollar profit. As Yum! Brands’ growth in China has taken off, the company has become more dependent on the country for sales and profits. At the same time, however, as growth has stalled in recent years, it has dampened expansion at Yum! Brands overall. Consider this: In 2008, Yum! Brands generated $3.1 billion in revenue. By 2012, revenue more than doubled, to $6.9 billion, or an additional $3.8 billion. That accounted for all of Yum! Brands’ total revenue growth over the period. Yum! Brands’ total revenue rose $2.3 billion, to $13.6 billion, meaning that revenue outside China actually fell over that period. But a pair of food safety crises in China, along with bird flu fears and economic malaise, led to steep declines in same-store sales in the country. Although Yum! Brands kept building restaurants, revenue growth stalled, reaching $6.9 billion in 2015, the same as in 2012. Unsurprisingly, Yum! Brands’ overall revenue growth fell in that time by $500 million, to $13.1 billion, by 2015. By spinning off Yum China, the company says it can focus on the higher-margin franchise business, while enabling the new China company to concentrate on restaurant operations and growth. “Yum China has a leading position in the China market, and we see tremendous opportunities to leverage our well-recognized brands and decades of experience to drive growth,” Micky Pant, CEO of Yum China, said in a statement. The company says Yum China still has plenty of room to grow because China has plenty of room to grow. In an SEC filing last week, Yum China Holdings Inc. said it should be able to continue increasing the number of KFC and Pizza Hut units — and, eventually, Taco Bell — in the country because of the likelihood of prolonged economic growth there. Yum China has 7,200 restaurants in the country — it had just 3,000 units there in 2008 — and net income of $323 million in 2015. The company said the number of middle-class and affluent households in China should grow from 116 million people in 2016 to 315 million by 2030. Meanwhile, more middle-class households will be in the central part of the country, where economic growth has been slower to reach than it has on the coasts. The percent of middle-class Chinese living in the central part of the country is expected to grow from 13 percent in 2002 to 39 percent in 2022. Sara Senatore, an analyst with Bernstein Research, suggested that a stabilizing economy in China and improving sales and profits at KFC and Pizza Hut there should help the company generate 15-percent earnings growth every year. Senatore also said Yum China can still add units, as economics on new restaurants continue to improve. “China still appears to have room to grow,” Senatore wrote in a note last week. Yum! Brands, looking to get more local ownership and digital expertise for Yum China, will sell a portion of Yum China to a pair of investors: Primavera Capital Group and Ant Financial Group are investing $460 million in the China unit. On Nov. 1, Yum China will start trading on the New York Stock Exchange under the ticker symbol “YUMC.” – Source: NRN.
Ruby Tuesday to sell HQ, Lay off 19 Employees
Ruby Tuesday Inc. has signed a deal to sell its headquarters building and announced 19 support-center layoffs, the company said. “We have made the difficult decision to reduce the size of our support-center team by 19 in connection with the previously announced closure of 95 corporate-owned restaurants,” the Maryville, Tenn.-based casual-dining company said in an emailed statement. A spokesperson said the support center has a total of about 235 employees. Amid sluggish sales, Ruby Tuesday said in August that it would close 95 restaurants, or about 15 percent of its company-owned units. Last week, James J. “JJ” Buettgen resigned as Ruby Tuesday president and CEO, positions he had held since 2012. Board member Lane Caldwell was named to the posts in the interim. As part of the corporate restructuring, Ruby Tuesday said it had agreed to sell its 40,000-square-foot headquarters for $2.8 million to Altar’d State, a women’s clothing store chain, and consolidate operations to another Maryville location by January. The headquarters sale is expected to be closed by October, the company said. “Consolidating our Restaurant Support Center will streamline our cost infrastructure as we continue to execute against our Fresh Start initiatives,” Cardwell said in a statement. “We are confident in our long-term strategies and believe we are positioning Ruby Tuesday to deliver improved operational results over time.” Ruby Tuesday said laid-off employees would be offered severance and benefits in accordance with company policy. “While it is never easy making these decisions, it is important that we take this step to help better position Ruby Tuesday for a strong future,” the company said. As of Aug. 30, Ruby Tuesday had 615 restaurants in 42 states, 14 countries and Guam. The company owns and operates 547 restaurants and franchises 68 units. Source: NRN.
Four Corners Property Trust Announces Acquisition of Four Kentucky Fried Chicken Restaurants for $3.9 million
Four Corners Property Trust, a real estate investment trust engaged in the ownership of high-quality net leased restaurant properties, is pleased to announce the acquisition of the real estate of four KFC restaurants in the Detroit, Michigan MSA for $3.9mm. FCPT funded the acquisition with cash on hand. The restaurants are 100% occupied under new triple-net leases with terms of 20 years, and the transaction closed at a going-in cash cap rate consistent with previously announced transactions. KBP Foods, a 360 unit franchisee, has committed to renovate the properties in the next few years. Bill Lenehan, FCPT’s Chief Executive Officer, commented, “It was a pleasure working with KBP Foods. We are very impressed with KBP’s operating acumen and their track record of growth. As one of the top 20 restaurant franchisees in the country with a solid credit profile, we hope to do additional transactions with them going forward.” Barry Dubin, KBP Foods’ Chief Development Officer, commented, “We received senior attention from FCPT from day one. We look forward to working with them on additional real estate transactions in the future.” – Source: FCPT.
What Inspires MOD Pizza’s Co-Founder
The founder of one of the leading fast-casual pizza chains explains how his definition of success goes far beyond the number of stores he opens. My entry into the quick-serve industry really came out of wanting a cup of coffee. My wife, Ally, and I were living in the U.K. at the time, but missed the type of coffee shops we used to have in our hometown of Seattle. After months of talking about it—and some peer pressure from friends—we started Seattle Coffee Company. We had about 80 locations in the U.K. and were preparing to go public when Starbucks put in to buy the U.K. division of Seattle Coffee Company. We sold to Starbucks in 1998, and I became president of Starbucks’ European division. Shortly thereafter, my wife and I cofounded an Italian deli concept called Carluccio’s, which we eventually took public and sold. It’s funny, because I never had the intention to build these businesses up to ultimately sell them, but it happened twice in a row. We moved back to Seattle and were both a little hesitant to get back into quick service. Our two previous successes seemed almost too good to be true, and we didn’t want to jinx it. During the time of uncertainty, however, we couldn’t help but notice the lack of innovation in the pizza market. There really wasn’t a whole lot done in the space for a long time, and that’s where MOD Pizza was born. We opened our first location in Seattle in 2008 and have been growing rapidly. Once you’ve been in the industry long enough, you see the impact you have on others, and that’s always been my favorite part of this business. I like to think that MOD is revolutionizing the way people see pizza, and while the product is important, it’s really just a platform for how we can have a positive impact. From the start, Ally and I determined how we would measure our success, and it wasn’t going to be the number of stores or the revenue generated; it would be the number of people who are employed with us. People start to feel connected to a business that seems to have a higher calling, and I couldn’t imagine operating MOD any other way. This vision of impacting others is the reason we do what we do and is what will define our long-term success. – Source: QSRmagazine.com.
Famous Brands Names Dustin Lyman CEO. Former CFO is Company’s Third Chief Executive in Three Years
Famous Brands International, parent to the Mrs. Fields Cookies and TCBY brands, has promoted former chief financial officer Dustin Lyman to the role of CEO, the company said this week. Lyman, who was a tight end for the Chicago Bears NFL team from 2000 through 2005, is the third CEO in three years for Broomfield, Colo.-based Famous Brands International. He replaces Jonathan Drake, who was appointed CEO las year. At the time, Drake replaced Neal Courtney, who was named CEO in 2013. Lyman joined Famous Brands in 2013, as director of finance. He has played an increasing role in the company’s strategic plan, which has included investing in unit-level improvements, adding units in key markets, streamlining supply-chain contracts, improving operational efficiencies and revamping e-commerce sites. The company also recently acquired the Maxfield Candy and Nutty Guys brands, adding to its snack products. Famous Brands has also begun rolling out self-service TCBY vending machines for nontraditional locations. Before joining Famous Brands, and after his years as a professional athlete, Lyman held key financial positions at Vail Resorts and Dish Networks, the company said. Famous Brands is a portfolio company of Z Capital Partners LLC, the private-equity arm of Z Capital Group. “Dustin has been an integral part of creating and executing Famous Brands’ strategic vision over the last several years, and I am pleased he will be taking on additional responsibilities in his new role as CEO,” said James Zenni, president and CEO of Z Capital. “Importantly, Dustin’s strong leadership abilities and management philosophy have resonated with franchisees, licensees and business partners who share his belief that great success is achieved through teamwork.” Famous Brands operates and franchises more than 750 locations in 33 countries. – Source: NRN.
Yum! Brands, Inc. Appoints Paget Alves to Board
Yum! Brands, Inc. announced the appointment of Paget Alves to its Board of Directors, effective November 17, 2016. With Mr. Alves’s appointment, the Yum! Brands Board will consist of 12 directors, 11 of whom will be independent. “Paget’s extensive executive management and leadership experience, as well as his background in sales, make him a strong addition to the Yum! Brands Board,” said Robert Walter, Non-Executive Chairman of Yum! Brands. “We are thrilled to have Paget join us at this exciting time for the Company, and look forward to benefitting from the insight and expertise he will bring.” Greg Creed, Chief Executive Officer of Yum! Brands said, “We are excited to appoint a director as qualified and talented as Paget who will bring fresh perspectives to the Board as Yum! Brands begins its next chapter and moves forward following the separation of the China business. I look forward to working with him as we execute on our strategic plans to drive growth across all of our brands and deliver value for our shareholders.” Mr. Alves, 62, serves on the Boards of Directors of International Game Technology PLC, Ariel Investments LLC and Synchrony Financial. He previously served on the Boards of Directors of GTECH Holdings Corporation and Herman Miller, Inc. He served as Chief Sales Officer of Sprint Corporation, from January 2012 to September 2013, after serving as President of the Business Markets Group since 2009. Prior to that, he held various other positions at Sprint. Before joining Sprint in 2003, he served as President and Chief Executive Officer of PointOne Telecommunications Inc., and President and Chief Operating Officer of Centennial Communications. – Source: Yum! Brands, Inc.
Pasta Equipment Maker Dominioni Joins Marmon
Marmon Food, Beverage & Water Technologies Company, part of Berkshire Hathaway Inc., announced the acquisition of the assets of Dominioni Punto & Pasta S.r.l., a leading Italian supplier of commercial pasta equipment, by Marmon Pasta Solutions S.r.l. Terms were not disclosed. Founded in 1968 by Pietro Dominioni, the family-run business designs and produces professional pasta equipment for the restaurant, hospitality, and catering markets, as well as high-volume pasta manufacturers. The business will continue to operate under the Dominioni brand name and its operations will remain based in Lurate Caccivio (Como). Fabrizio Dominioni, son of the founder, will continue to manage the business. Fabrizio Dominioni said: “I am pleased that my family’s business is now part of Marmon and Berkshire Hathaway. Marmon is a strong, successful company and a global leader in the foodservice equipment industry. Our new home within Marmon will enhance our competitive position and our opportunities for growth now and in the future.” The acquisition is Marmon’s second this year of an Italy-based foodservice equipment company. In June, Marmon Italia acquired Angelo Po of Carpi (Modena). Angelo Po designs and manufactures professional kitchen equipment including horizontal and vertical cooking products and food preservation systems for caterers and restaurants in Europe, Asia, and North America. Dominioni and Angelo Po are both part of the Restaurant & Catering Technologies Sector within Marmon Food, Beverage & Water Technologies Company. Fabrizio Valentini, President and CEO of Marmon Food, Beverage & Water Technologies Company, said: “Dominioni is an important addition to our organization. With Angelo Po, it will significantly contribute to our company’s growth, both geographically and technologically, as we continue to invest in the worldwide foodservice, restaurant, and catering market.” Massimo Aleardi, Sector President of Marmon Restaurant & Catering Technologies, added: “We are excited for Dominioni to join our group. Dominioni has established high standards for quality, reliability, and service. Its products, which also complement Angelo Po’s portfolio, are well regarded in the foodservice industry. Its innovative equipment solutions help meet the growing demand for fresh food while also enabling more efficient production. We look forward to building on Dominioni’s excellent reputation not only throughout Europe, but also globally.” – Source: Marmon Food, Beverage & Water Technologies Company.
Four Corners Property Trust Announces Acquisition of Three Buffalo Wild Wings Restaurants for $7.9 million
Four Corners Property Trust, a real estate investment trust engaged in the ownership of high-quality net leased restaurant properties, is pleased to announce the acquisition of the real estate of three Buffalo Wild Wings restaurants in Galesburg and Macomb, Illinois and Burlington, Iowa for $7.9 million. FCPT funded the acquisition with cash on hand. The restaurants are 100% occupied under triple-net leases with 12 years of term remaining, and the transaction closed at a going-in cash cap rate of 6.5%, exclusive of transaction costs. The properties are well-located within their respective communities and have strong rent coverages. – Source: FCPT.
Papa Murphy’s Appoints New Board Chair
The Vancouver-based take-and-bake pizza company Papa Murphy’s has a new board chair, it announced. Jean Birch, a former president of the International House of Pancakes, succeeds John Barr, who recently resigned. Papa Murphy’s Holdings will not fill the board vacancy left by Barr, it said in a press release. Birch has served as a board member since April 2015, Founded in 1981, Papa Murphy’s is a franchisor of stores that sell made-to-order uncooked pizzas, which customers take home and bake. It operates more than 1,500 franchised and corporate-owned stores. “Jean Birch has a long and successful track record leading franchised restaurant concepts …,” Papa Murphy’s CEO Ken Calwell said. “Under John’s leadership, the system nearly doubled from both a unit and a sales perspective.” – Source: The Columbian.
Former Wal-Mart VP Joins Pizza Hut
Helen Vaid has been tapped for the newly created role of chief customer officer at Pizza Hut, a division of Yum! Brands, Inc. Ms. Vaid will oversee efforts to transform the pizza chain’s in-restaurant and digital customer experience in addition to leading the international e-commerce, technology and operations business for Pizza Hut. Most recently, Ms. Vaid was vice-president of digital store operations and experience at Wal-Mart Stores, Inc., where she was responsible for the growth, profitability, traffic growth and conversion of the retailer’s web site. Previously, she was general manager at Snapfish, a web-based photo sharing and printing service company. “One of the key priorities for Pizza Hut has always been putting the customer experience at the heart of everything we do and we think the addition of Helen will represent an even bigger step-change for Pizza Hut all over the world,” said Milind Pant, president of Pizza Hut International. “To truly provide the best customer experience possible, we must make it easier to get a better pizza by boldly approaching the online and offline experience as a whole, and Helen’s experience and thought leadership matches perfectly with this vision.” – Source: Food Business News.
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