Dear Loyal Followers:
Here is my Belated Valentine to you ALL: Roses are Red Violets are Blue. We Love Our Clients AND Candidates TOO!! Hope you all had a great Valentine’s Day. We appreciate you for sure!! Much of the Midwest is recovering from our biggest storm in a while so I hope you are all safe and warm. As the groundhog predicted, there are 6 more weeks of winter facing us and as employees and managers get cabin fever many employees up and leave. Here are a few tips I stole from RecruitLoop which can help you in minimizing your turn over: 1. Hire Carefully (yes, using a reliable company like AR is the first step; having a complete background check, etc. is a must!). 2. Allow for Work- Life Balance, today employees expect their social life to be on par with their work life. 3. Stop wasting your employees Time: is that meeting really necessary? Know when to get out of the employee’s way and let them perform. These are just three on the list. If you would like to learn more, please feel free to contact me or my Associates and we will be happy work with you. As you hunt down the groundhog, please enjoy the latest edition of American Recruiters Global Foodservice News. Stay Warm!!
Chipotle Names Brian Niccol as CEO
Chipotle Mexican Grill Inc. named Brian Niccol as CEO as of March 5, the company said. Niccol most recently served as CEO of Irvine, Calif.-based Taco Bell Corp., the division of Yum! Brands Inc. He succeeds Steve Ells, founder and CEO of the Denver-based Chipotle, who announced in November he would step down. Niccol has served as Taco Bell CEO role at Taco Bell since January 2015, when his predecessor Greg Creed became CEO of parent Yum. “Brian is a proven world-class executive, who will bring fresh energy and leadership to drive excellence across every aspect of our business,” said Ells, who will become Chipotle’s executive chairman, in a statement. “His expertise in digital technologies, restaurant operations and branding make him a perfect fit for Chipotle as we seek to enhance our customer experience, drive sales growth and make our brand more relevant,” Ells said. Niccol said he was excited to join Chipotle. “I have tremendous respect for the Chipotle brand and its powerful purpose,” Niccol said. “At Chipotle’s core is delicious food, which I will look to pair up with consistently great customer experiences. I will also focus on dialing up Chipotle’s cultural relevance through innovation in menu and digital communications. This will attract customers, return the brand to growth, deliver value for shareholders and create opportunities for employees.”
Niccol joined Taco Bell in 2011 and served as president from 2013 to 2014. He launched such products as breakfast and the company’s social media across 7,000 restaurants. Prior to Taco Bell, Niccol held leadership roles at Pizza Hut, including vice president of strategy, chief marketing officer and general manager. Niccol began his career at Procter & Gamble, where he spent 10 years in various brand management positions. Chipotle has faced declines sales and traffic since several food-borne illness outbreaks in 2015 and 2016. For the fourth quarter ended Dec. 31, Chipotle’s same-store sales increased 0.9 percent, which the company partially attributed to menu price increases. Net income for the quarter was $43.8 million, or $1.55 per share, compared with $16 million, or $0.55 per share, the previous year. As of Dec. 31, Chipotle, founded in 1993, had 2,406 restaurants. With Niccol’s departure, Yum Brands said Julie Felss Masino, president of Taco Bell North America, and Liz Williams, president of Taco Bell International, will assume leadership at the company’s quick-service Mexican division. “As Brian moves on to another opportunity, we’re grateful he has built a world-class leadership team,” said Gred Creed, Yum CEO, in a statement. “I’m confident that Julie, an accomplished brand builder and restaurant industry executive, and Liz, a strong brand veteran, are well positioned to ensure a seamless transition and will continue to elevate Taco Bell into a distinctive, relevant and easy brand.” – Source: NRN.
Jennifer Ward to Join Atosa USA
Atosa USA is pleased to announce the appointment of Jennifer Ward to Vice President of National Accounts effective immediately. Ward will be responsible for developing and cultivating relationships within the national accounts community for the complete Atosa USA product offering, which includes self-contained refrigeration, ice machines and cooking equipment. Ward’s extensive experience in the commercial foodservice equipment industry dates back 28 years where she began her career at Cleveland Range, LLC. Jennifer is most notably known for her 13-year term at Beverage-Air, where she served as Sr. Vice President of Sales & Marketing. Atosa USA’s corporate office is in Brea, California and has 12 distribution facilities throughout the United States. Atosa Catering Equipment Company is a leading global manufacturer in commercial refrigeration, ice machines and cooking equipment and currently has distribution in over 100 countries. Atosa is a division of Yindu Kitchen Equipment, Ltd. (which completed a successful IPO in Shanghai in 2017). Source: Atosa.
Winholt Elevates Dominick Scarfogliero to Top Post
Scarfogliero, who has served as president and COO since 2009, joined Winholt in 1993 as v.p.-operations and IT. Prior to that, he led operations, distribution and technology for two major U.S. consumer electronics companies. Winholt Chairman Jonathan Holtz affirmed that Scarfogliero has played a major role in the company’s growth since becoming president and COO in 2009. “With Dominick’s leadership skills, he has built a strong team around him and one of my greatest satisfactions has been seeing the quality associates we have do outstanding work and grow within our organization.” Winholt is headquartered in Woodbury, N.Y., and has facilities in California, Pennsylvania, Texas, and China. – Source: FER.
MAFSI 2018 Draws Record Numbers
Last week, foodservice equipment manufacturers and reps gathered at the Naples Grande Beach Resort in Naples, Florida, for four days of learning and networking at MAFSI 2018, reports Tina Nielsen. More than 600 delegates turned out for MAFSI 2018, among them 200 manufacturers and 340 reps. As MAFSI president Chris Jeens pointed out, this was the largest conference ever for the association. The theme of the conference, ‘Compete in HD’, was explained by Jeens, a partner of WD College in Ontario, as “Cutting through the noise to achieve a clearer picture”. This central point was approached from every possible angle to show how foodservice equipment professionals can gain advantage and grow in an ever changing industry.
Executive director Alison Cody and associate executive director Tom Jedlowski prepared a varied and busy schedule with high quality speakers and much to be learnt. Challenges, but opportunities: The overall message from keynote speakers was a positive one. Marketing coach and speaker Terry Brock kicked off the conference with a session looking at the biggest trends in technology currently happening and about to happen. His message to delegates? “Yes, there are challenges but with challenges come opportunities.” He urged them to embrace the changes that are already happening, but to remember to bring people with them on the journey. Futurist and best-selling author Daniel Burrus, had a similar message: look ahead for opportunities, find out what is coming next and take advantage of it. “Are you the disruptor or the disrupted?” he asked. Amazon Business spoke to a packed room about the opportunities to partner with the internet giant and explained how the business side of Amazon works while consultant Curt Steinhorst gave an entertaining speech on how to reach customers in an age of constant distractions and unlimited access to technology. Focus on education:
Across the three full days attendees could choose from a wealth of sessions: keynote speakers discussing disruptive trends to big picture economic outlook. Additionally there were more than 50 break-out sessions taking place in between the main sessions. The concourse was packed with manufacturers showing off their equipment and many looking for reps. This year’s conference saw a record number of hot line tables; several European manufacturers attended for the first time, looking to expand into the US market. Throughout the programme tech terms were discussed, some more familiar than others – the use of drones, artificial intelligence, augmented reality, virtual reality, 3D printing – but they all have in common that they are likely to have an impact on the foodservice world in the near future. The conference programme theme reflected feedback from members. “When we asked members in each of the territories about their concerns, technology was the main one,” said conference co-chair Sandra Hamilton. “The educational aspect is the main driver of the MAFSI conference and we had phenomenal feedback this year. Delegates came out of every session having learnt something new.” Strengthening relationships: Consolidation and collaboration were just two topics that were discussed around the conference. Factors including an ageing workforce across the industry is likely to lead to more consolidation in foodservice. This at least was the view of Eric Norman FCSI, vice president of Clevenger Associates, who held three discussion sessions with James Camacho FCSI of Camacho Associates. “You will see companies starting to get much bigger,” he said. Collaboration was another buzz word with many companies and professionals starting to see that working together is good for business. This spirit is reflected in the strengthening relationships between the five families of foodservice (MAFSI, FCSI, NAFEM, FEDA, CFESA). Jeens explained increased collaboration in the last three years have led to the latter three organising a joint conference for the end of March this year. While the record visitor numbers is likely to reflect an increase in the MAFSI general membership numbers, but there is no doubt that delegates at MAFSI 2018 understood there is a need to collaborate and learn from each other to grow and develop. It’s a notion that the people planning the program understand well too. “The main thing is that whatever we have showed delegates has inspired them to improve in their business,” said co-chair Hamilton. – Source: MAFSI.
Boelter Opens Superstore in Georgia
Boelter Cos. boosted its presence in the Southeast with the January opening in metro Atlanta of its third national Boelter SuperStore. The 10,000 sq.ft. store, like the one the dealer opened in Chicago 18 months ago, is modeled after Boelter’s original Milwaukee SuperStore. The new 50,000 sq.ft. location in Duluth, Ga., also includes service, warehouse and distribution offices that were previously located in Gainesville, Ga., as well as a design center, full-service demo kitchen and event space where chefs, vendors, and customers can connect with the Atlanta culinary community. “Atlanta has seen substantial restaurant growth—hundreds of new restaurants have opened in the past year alone—and sales growth at Georgia restaurants has been among the strongest in the nation,” says company President Eric Boelter. Boelter also plans to relocate its Southeast Division office, serving Alabama, Florida, Georgia, South Carolina, and Tennessee, to the new Duluth, Ga., site. The country’s fifth-largest E&S dealer established the division in 2015 when it acquired Direct South. Boelter will host a grand opening event on March 6. – Source: FER.
The $2.9 Billion Blockbuster Deal was Just the Beginning
Buffalo Wild Wings is just the first piece of a potential restaurant empire. Arby’s Restaurant Group’s $2.9 billion deal, which closed Monday, will signal the beginning of Inspire Brands Inc., chief executive Paul Brown told The Wall Street Journal. As for what’s next, Brown outlined an ambitious future that includes purchasing “brands that span multiple occasions, up and down the spectrum,” he told the WSJ. Not just multiple brands in fast food, casual dining, and fast casual, but big hitters, too. Brown didn’t offer specifics but said Inspire Brands Inc. envisions buying no more than 10 chains, with systemwide sales between $1 billion–$4.5 billion each. He also said the company would look at adding a mix of franchise-owned and company-owned chains. Currently, Inspire Brands Inc. will wield a sizable portion of the sales pie. Arby’s has some 3,400 restaurants generating $3.7 billion in systemwide sales. Buffalo Wild Wings, despite recent t struggles to regain traffic and produce positive same-store sales, offers $3.9 billion from more than 1,250 locations. The chain said it expects comps in the negative 1.6–1.7 percent for fiscal 2017. R Taco, a 25-unit fast casual that Buffalo Wild Wings owns a majority stake in, is also now part of the portfolio. Launched in Dallas in 2010 as Rusty Taco and named for co-founder Rusty Fenton, the company shortened its name in 2015. “We believe the time is right to create a different kind of restaurant company— one with a broad portfolio of distinct brands across a full spectrum of restaurant occasions,” Brown said in a statement. “Our goal is to build an organization that leverages the benefits of scale, not only to save cost, but also to enable outsized investments in long-term growth initiatives.”
According to the WSJ’s interview with Brown, Inspire Brands Inc. wants to capture more visits from the same customers. Meaning the group hopes to keep guests across all dayparts, price points, and interest levels over time. Another unique aspect of the purposed setup: Brown, who was hired by Roark Capital from Hilton Worldwide, said he wants to organize the company like Hilton Hotels & Resorts. The company uses one loyalty program for all its different properties. Inspire Brands Inc. would stand out from its competitors in this fashion, as most companies stay within a specific segment. Darden, Brinker International, and Bloomin’ Brands, for example, operate casual dining chains across different full-service fields. YUM! Brands, the owner of Taco Bell, KFC, and Pizza Hut, sticks to fast food, as does Restaurant Brands International with Burger King, Tim Hortons, and Popeyes. Brown added that Inspire Brands Inc. plans to take the slow-and-steady approach with Buffalo Wild Wings, something that’s now possible thanks to being a privately held company that doesn’t need to share quarterly financials. “Ultimately, I think where this all shakes out is that we’ll see a world of fewer large public restaurant companies,” Brown said of the rash of brands taking this route in recent months. Panera Bread is one, having been brought under the umbrella of JAB Holding Company July for $t.5 billion. JAB owns Krispy Kreme, Caribou Coffee, Keurig Green Mountain, and Peet’s Coffee & Tea, among other companies. Even though Panera’s stock grew 2,000 percent inholding the past 20 years, investors were getting restless with flat earnings. Ruby Tuesday was also recently purchased be NRD Capital and taken private. Arby’s was formerly part of Wendy’s Co. until Roark Capital Group purchased it in 2011. In 2010, sales from stores open for more than a year dropped 5.8 percent from the previous year, playing a hand in the $4.3 million loss seen by parent company Wendy’s/Arby’s Group Inc. The chain has been on the upswing ever since. Heading into July, the company racked up 25 consecutive quarters of same-store sales growth, 16 consecutive quarters of outperforming industry norms, and 11 consecutive quarters of transaction growth. Compared with 2012, AUV is up more than 25 percent and is above $1.1 million.
Inspire was co-founded by Brown of and Neal Aronson of Roark. Brown will serve as chief executive officer of the company. The company now operates more than 4,600 company-owned and franchised restaurants with more than 150,000 team members across 15 countries. The combined 2017 global system sales of its restaurants exceeds $7.6 billion. “I’m incredibly excited about the opportunity ahead,” Brown said. “Our family of brands are iconic within their restaurant segments and have succeeded with the help of a strong franchise base, differentiated marketing and, most importantly, delicious food. I’m looking forward to accelerating their growth under our new model.” The Inspire headquarters will be based in Atlanta and it will also operate a support center in Minneapolis. – Source: FSR.
Sentinel Capital Partners Sells Huddle House
Sentinel Capital Partners has sold Huddle House Inc., the companies said. Terms of the sale were not disclosed. The buyer asked not to be disclosed, according to a spokesperson. The New York City-based private-equity firm acquired Huddle House in 2012. “Sentinel has been a great partner to Huddle House and over the past six years has helped us set and achieve meaningful strategic milestones,” said Michael Abt, CEO of the Atlanta-based family-dining chain. “Our customers, franchisees, operators and employees are super excited about Huddle House’s future.” In recent years, Huddle House had been in the midst of a turnaround and remodeling program. “Throughout our ownership, Huddle House has achieved impressive systemwide operational results that have increased efficiency and improved productivity at the individual restaurant level,” said Jim Coady, a partner at Sentinel. “Average unit volume increased by 14 percent on our watch, which reflects the commitment and dedication to excellence of the entire Huddle House team.” In 2016, Abt discussed a plan to nearly double de average unit volume of restaurants. “We’re going to optimize our kitchen design, so the expediting and service areas will be designed to increase throughput capacity and operational efficiency and will use new cooking platforms and technologies,” he told NRN at the time. Huddle House ranked No. 158 on NRN’s latest Second 100 census and reported U.S. systemwide sales of $240 million for the fiscal year ended April 2017. The chain has 349 units. In the past year, Sentinel also sold the Checkers/Rally’s quick-service brands for $525 million and acquired quick-service seafood purveyor Captain D’s and. The firm has $2.6 billion of equity capital under management. Correction: Feb. 1, 2018 This story has been updated with information about the buyer of Huddle House. Correction: Feb. 1, 2018 An earlier version of this story misstated franchised brands operated by Sentinel Capital Partners. The story has been updated. –Source: NRN.
The Global Food Safety Conference
A panel discussion at the Global Food Safety Conference that featured the chief executive officers of some of the largest food and beverage companies quickly shifted away from the topic at hand to consumer trust and what’s at stake if the wave of nationalism and protectionism sweeping many federal governments in developed countries, including the United States, takes hold. David MacLennan, chairman and chief executive officer of Cargill, Minneapolis, said in his opening remarks that the work of the 1,100 attendees at the international conference taking place in Houston this week directly translates to how consumers perceive the companies they work for as well as the industry as a whole.
“The G.F.S.I. (Global Food Safety Initiative) is not just advancing food safety,” he said. “We are living in a world that does not have a lot of trust. We need to create that trust and transparency.” The idea of using food safety as a competitive advantage came up during the session and Irene Rosenfeld, the chairman and CEO of Mondelez International, Deerfield, Ill., said it was not a good idea. “It’s imperative we have the ability to get all of our products safely through the supply chains we operate,” she said. “I don’t think of safety as a competitive advantage.” Food safety incidents related to fresh salads in the United States, fresh chicken in China and infant formula in China that prompted severe downturns to all companies competing in the categories were raised as examples of what happens when one company has a problem.
Speaking of the infant formula issue in China, Douglas M. Baker Jr., chairman and CEO of Ecolab, Minneapolis, said the “whole category got crushed. There was a bad actor and everybody got hurt.” Mr. MacLennan emphasized that the world must also stay connected, noting that companies must battle against such trends as nationalism and protectionism that may impact the security of global supply chains. When asked how he sees that happening given the rising specter of nationalism and protectionism that appears to be taking hold, his answer was succinct when he said, “Yes, I am worried.” “I’ve said it publicly and I will say it again here,” he said. “I do believe trade is necessary as well as an inclusive immigration policy. That being said, and I know what the new administration has said and done with the elimination of the T.P.P. (Trans Pacific Partnership), I remain hopeful. There are plenty of people in the new administration who have worked with open trade agreements.” Ms. Rosenfeld noted that a positive that may come from the Trump administration is its focus on regulations and eliminating those not considered useful. “Regulations are lagging considerably,” she said. “Some have even lagged in their implementation and usefulness.” The clean label trend was also cited as a food safety issue by Ms. Rosenfeld. “There is no question consumers trust our brands and we violate that trust at our peril,” she said. “… But as we evolve our portfolio there is a desire from consumers to see simpler ingredients. “Many of those ingredients were placed there for safety reasons to get (products) through the distribution system. As we renovate our brands in that way it is essential we have access to technologies and new ingredients that apply the same level of safety.”
Milwaukee Tool Announces Planned Expansion of Brookfield, Wisconsin Headquarters
With a planned total investment of $32 million, Milwaukee Tool is proposing another major expansion at their global new product development center in Brookfield, Wisconsin. A 114,500 square foot, multi-story building would be built on an existing 3.5 acre lot owned by Milwaukee Tool, bringing their global headquarter space from 190,000 square feet, originally, to a proposed total of 504,500 square feet.
Over the last several years, Milwaukee Tool has experienced rapid growth, expanding employment at its Brookfield campus from just over 300 jobs in 2011 to almost 1,300 this year. This expansion would lead to the creation of 350 additional new jobs in the next 5 years, with an average annual salary of $75,000. “We must grow or die. We are committed to delivering a world-class work environment to attract, retain, and recruit the best talent in the world.” said Steve Richman, Milwaukee Tool Group president. “This investment is necessary for Milwaukee Tool to continue to deliver disruptive innovation and deliver on our commitment to users and distribution partners in driving productivity on the jobsite.” Milwaukee Tool is working with the City of Brookfield, Milwaukee 7, Wisconsin Economic Development Corporation, and Waukesha County Center for Growth officials on the proposed expansion. The City of Brookfield is proposing a Tax Increment Financing (TIF) district which would provide $3.5 million in TIF assistance to project costs estimated at over $32 million. The Wisconsin Economic Development Corporation is also working with Milwaukee® on possible incentives for the project. Milwaukee® is exploring other options for the needed office space to facilitate its continued growth, but would prefer to keep all of its product research, design, and development within the campus. – Source: ACHRNEWS
In Light of Industry Demand, Refrigeration School, Inc. Announces New HVAC 6 Month Training Program
RSI is proud to announce a new Refrigeration, Air Conditioning and Heating Technologies program. Students can complete the training program in as little as 6 months. “We are excited to announce this accelerated HVAC program to meet the need for qualified technicians. Our new 6 month program provides new students and transitioning military personnel into civilian life with an exciting career change opportunity that can lead to a sustainable career” says RSI Campus President, Heather Haskell.
According to the U.S. Bureau of Labor Statistics “Occupational Outlook Handbook”, employment of heating, air conditioning and refrigeration mechanics and installers is expected to grow 34 percent through 2020, which is much faster than the average for all occupations. Part of the reason for this growth in the need for technicians is that climate-control systems typically have a life span of 10 to 15 years. This means that many of the newly installed systems in homes and commercial buildings will need replacement by the year 2020. Short-term training programs such as those offered at RSI help to fill this demand for skilled, well-trained technicians. The new Refrigeration, Air Conditioning and Heating Technologies incorporates hands-on training in diagnosing, servicing and repairing equipment as well as mechanical and electrical principles. The program also features both day and evening schedules. The Refrigeration School, Inc. was founded in Phoenix, Arizona in 1965, and trains students for careers in the technical services industries. RSI is an Accredited school, ACCSC. Licensed by the Arizona State Board for Private Post Secondary Education. GI Bill® Eligible (check with local campus for specific eligibility). – Source: The Refrigeration School, Inc. (RSI)
Rethinking HVAC Technology to Meet Future Global Demand
Many market forecasters confidently predict that the global heating, ventilation, and air conditioning (HVAC) market will grow rapidly to approximately $155 billion USD by 2022, up dramatically from its 2013 estimate of $91 billion, due to construction projections and urbanization in developing nations. How do we sustain that growth using current vapor-compression technology? Developed for commercial applications during the first half of the 20th century, modern vapor compression refrigeration systems power the air conditioning in our homes, office buildings, and cars, as well as satisfy our residential and commercial refrigeration needs. While vapor compression is a very mature and relatively inexpensive technology, it is nearing the limits of potential energy efficiency improvements, and yet its use still represents a substantial proportion of our energy consumption, second only to lighting in the U.S. alone. Liquid refrigerants in common use today often escape into the environment, accumulate in the atmosphere when initially closed systems develop leaks with time, and cannot be re-captured. An alternative technology has actually been with us for quite some time. Caloric materials and compounds that can generate strong cooling effects when cyclically acted upon by magnetic, electric, or mechanical forces, can be incorporated into refrigeration systems that are dramatically more energy efficient than current vapor-compression models. When my late colleague, Karl Gschneidner Jr., and I discovered what is known today as the “giant” magneto-caloric effect in a gadolinium alloy in 1997, we were presented with a promising new avenue for cooling systems. We partnered with Astronautics Corporation of America to build a successful prototype refrigeration mechanism. Despite much, mostly uncoordinated, subsequent research in the materials science and engineering communities, and demonstration models being built by various teams all over the world, the technology as it now exists has remained largely behind the doors of research institutions, failing to make the leap from fundamental research to applied technology.
The central challenge of bringing caloric cooling technology to market is finding affordable high-performance caloric materials. Like Peltier effect in thermoelectric devices, caloric effects underpin the efficiency of caloric refrigeration systems. Mirroring the materials base for thermoelectric applications, the pool of functional caloric materials on hand is severely limited. Only three materials are presently available for integration into magneto-caloric devices operating at room temperature: elemental Gd and its alloys with other rare earths, La(Fe1-x-yMnxSiy)13Hz, and MnFe(P,Si,B). Best known for its medical applications shape-memory Nitinol, NiTi, is the only material available for elasto-calorica (a.k.a. thermos-elastic) systems, and BaTiO3-based multilayer capacitors – for electro-caloric devices. Although successful laboratory prototypes have been demonstrated, low cooling powers at full temperature spans and high costs, both of which are material-driven, preclude the much-anticipated transition from the vapor-compression-based present to a more efficient and consumer-friendly caloric cooling and heat pumping future. Last year a team of national laboratory, academic and industry scientists and engineers assembled as the research consortium CaloriCool, funded by the U.S. Department of Energy (DOE), to concertedly address and pursue materials-related technical challenges and to substantially accelerate the penetration of caloric cooling systems into the marketplace. Member of the U.S. DOE Energy Materials Network, the consortium is set to address foundational challenges that include rapid discovery of advanced caloric materials, their evaluation and processing to ensure lifetime stability, rapid assessment of material performance, regenerator design, materials-based economic analyses, and validation and technology transfer. The consortium’s ultimate goals are to pick up the pace in developing caloric materials and, therefore, ensure adoption of caloric cooling and heat pumping technologies across a broad spectrum of applications within a decade, and establish the consortium as the national resource and international authority in caloric materials within five years. We believe the potential gains in energy efficiency and new features that the emerging solid-state, caloric cooling technologies have to offer are too significant to ignore. Vitalij K. Pecharsky is a senior scientist and group leader at the U.S. Department of Energy’s Ames Laboratory, an Anson Marston Distinguished Professor of Materials Science and Engineering at Iowa State University, and the director of CaloriCool®. CaloriCool® is an early stage research consortium funded by the U.S. Department of Energy’s Office of Advanced Manufacturing of the Energy Efficiency and Renewable Energy (EERE). – Source: Advantage Business Media.
Carlisle FoodService to Be Sold For $750M
Carlisle Cos. has announced the signing of a definitive agreement to sell Carlisle FoodService Products (CFS) to The Jordan Co., a New York-based private equity firm, for $750 million in cash. The transaction, announced February 1, is expected to close within the first quarter of 2018. CFS manufactures supplies, table coverings, cookware, displayware, storage containers, catering and transport equipment, and meal delivery systems for the foodservice, hospitality, healthcare, and janitorial segments. The Oklahoma City company reported more than $320 million of revenue for the twelve months ended September 30, 2017. In January 2017, CFS acquired San Jamar, the maker of dispensers for paper towels, tissue, soap and air purification as well as personal and food safety products for commercial and institutional foodservice markets, joining other CFS brands including Sparta Brush and Dinex. CFS also produces a comprehensive line of janitorial, waste, and material handling product lines for both the foodservice and sanitary maintenance industries. D. Christian “Chris” Koch, Carlisle Co.’s President and CEO, called the sale an excellent opportunity for Carlisle FoodService to optimize its long-term growth and profitability. “The divestiture of FoodService is consistent with Carlisle’s vision of operating a portfolio of businesses with highly specialized, highly engineered manufactured products in strong growth markets. While we believe FoodService is a valuable asset with industry leading brands and a strong management team, the sale of CFS will allow Carlisle to focus on our core businesses, and result in a portfolio that is better aligned with our operating strengths.” Carlisle has been in business since 1917 with current revenues of $3.5 billion; its five major divisions span construction materials, interconnect technologies, fluid technologies and brake and friction products. Its corporate headquarters are in Scottsdale, Ariz. – Source: FER.
Hangman Corp Announces Name Change to The Maven Group
Hangman Corp. unveils new branding to express the company’s renewed focus on divisional expert consulting. Now, the parent company will be The Maven Group with three main divisions: Forge Craft Foodservice, Maverick Healthcare Outfitters and Resquip Foodservice Supply. The Forge Craft Foodservice division will continue to specialize in contract commercial design and build foodservice projects, while the Maverick Healthcare Outfitters division will continue to focus on healthcare and senior living segments. Recently, The Maven Group also opened the Resquip Kitchen Authority to be the company’s showroom division — serving equipment needs for cash and carry customers and providing local expertise. “We’re proud of how far our company has come since 1980, and it is a time for a name that represented the next generation of our team,” said The Maven Group President Shane Cloud. “Operators need us to be core experts on their industry, and this divisional approach allows us to be a trusted part of their team, whether they are in the healthcare or restaurant industry.” The company plans to continue the premier service its vendors, customers and partners have come to expect from Hangman Corp. This rebranding allows the company to grow nationally, and The Maven Group plans to open another National Accounts office in Austin, Texas, this year along with two new Resquip Foodservice Supply showrooms. – Source: The Maven Group.
8 Tips for Managers to Minimize Employee Turnover
High employee turnover is more than a challenge that businesses occasionally face. In most cases, high turnover is a sign that something is fundamentally wrong with a business. It might be company culture. It might be a mismatch between middling salaries and high expectations. It might be management techniques. It might be one toxic employee, poisoning the experience for everyone else. Whatever the reason, solving high turnover issues should be a top priority for any business. Turnover hurts productivity and morale, eliminates consistency in the workplace, and costs money thanks to the expense of recruiting, hiring, and onboarding replacements. Strong employee retention, on the other hand, usually indicates a happy team and a bright future. Here are eight tactics that employers and managers can use to cut down on turnover problems.
- Hire carefully
Employee retention starts with hiring. Qualified employees who are a good fit with your company culture are more likely to stick around for the long term and make a positive impact while they’re there. Hiring managers can recognize their role in fighting turnover and hire more carefully. That doesn’t mean you second-guess yourself when you find someone you like. Instead, it means thoroughly vetting your hires—with detailed interview processes, criminal background checks, resume verifications, resume checks, and skills tests.
- Don’t be stingy with raises
Money isn’t everything when it comes to employee retention, but it is a major factor. In 2014, Forbes reported that people who stay with the same employer for more than two years (on average) end up making 50% less in their lifetimes than those who hop from job to job. Employers give their workers an average annual raise of about 3%. By contrast, professionals typically see pay increases of between 10% and 20% when making a move to a new company. Obviously, employers can’t afford to give every employee a 15% raise every year. However, if you want to keep your top talent, you need to give them financial motivation to stay. Reward good performance with big raises and you will lessen the pull of external opportunities.
- Look at your benefits package
If you can’t afford to give bigger raises every year, look at your company’s benefits package: 401(k) matching; lots of vacation; flexible work schedules; the ability to work remotely or from home; professional development opportunities. These benefits are hugely attractive and hugely beneficial to many professionals—particularly millennials. An employee thinking about leaving for a bigger salary might reconsider if she would be giving up these benefits.
- Allow for work-life balance
While there are industries where people still work around the clock (particularly in technology), the workaholic lifestyle is dying in many circles. Most professionals want work-life balance. They want to spend time with their friends, be with their families, travel the world, and enjoy life. Promoting work-life balance in your office—with flexible start and end times, more vacation time, and clearer boundaries between work and home—can decrease stress levels and create happier employees.
- Stop wasting employees’ time
The best managers are often the ones who provide support and guidance but know when to get out of their employees’ way. The worst managers are the ones who actively waste their employees’ time. Cut down meetings—both in length and quantity—to make better use of time. Research conferences and other types of business travel thoroughly to determine if they are worthwhile. Keep one-on-ones brief if there is nothing that either party wants to talk about. Giving your employees the gift of extra time will make them feel more productive, fulfilled, and accomplished, which can lead to greater job satisfaction.
- Make work more fun
One of the biggest mistakes managers can make is equating laughter and fun with a lack of productivity. Just because your employees are having a good time doesn’t mean they aren’t taking things seriously. On the contrary, employees who feel like they can make friends and have a good laugh at work are less stressed, more passionate, and less likely to quit. If you want something to tie your employees to your company, friendships and human connections are more likely to do the trick than money, benefits, or convenience.
- Help your employees plan for the future
Every employee wants to feel direction and momentum in his or her job. A dead-end job is a temporary job. As such, if you want to fight employee turnover, you need to promote long-term growth and development. Managers should sit down with every employee to discuss goals and expectations. Find out which skills or experiences a person wants to get out of their job and help them get there. Exposing your employees to new challenges and helping them find professional development courses relevant to their goals accomplishes two things.
First, you show your employees that you care about their growth. Second, your employees start treating your company as a place where they can grow and evolve instead of just a place to earn a paycheck. Both outcomes emphasize longer-term employment.
- Don’t be a jerk
No one on the planet got into their industry of choice because they wanted to listen to their manager yell at them over a minor mistake. Managers need to be firm and authoritative, but they do not have to be disrespectful jerks. Control your temper, be constructive in your criticism, and stop taking bad days out on your employees. Managers who are friendly, helpful, and supportive almost always foster better employee retention than combative power-drunk dweebs. You can’t keep every employee forever. Even 100% satisfied workers will eventually walk out the door, whether because they are moving away, retiring, or got an offer they couldn’t refuse from another employer. Many employers are losing people they don’t need to lose—often because they aren’t following one of these tips. Adhering to these golden rules will help your business retain more employees for longer while also creating a happier workplace. – Source: RecruitLoop.
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