QDOBA Restaurant Corporation (“QDOBA”), the leading fast-casual Mexican restaurant franchisor and portfolio company of Butterfly Equity (“Butterfly”), announced the closing of its inaugural $305 million whole business securitization through Qdoba Funding LLC. The transaction optimizes QDOBA’s capital structure for ongoing growth and provides meaningful interest expense savings. Proceeds from the transaction will be used primarily… read more
Global Foodservice News
How Remy Robotics is combining humans and robots in its new cafe
At this point in time, robot-run restaurants are nothing new: from flipping burgers to frying tortilla chips and preparing French fries, robotic arm assembly lines have been making headlines and taking up space on conference show floors for years now. But Remy Robotics — a Spanish foodservice robotics company — claims to take a new… read more
How Customized Paper Goods Programs can Meet Operator Goals
Since the pandemic, carryout, delivery, and off-premises food consumption has expanded among many verticals and not just fast casual and quick-service restaurants food, Attman says. “We’ve seen a growth in the use of paper goods in all verticals, including educational institutions, country clubs, hotels, sports and entertainment venues, and even full-service and fine-dining segments.” When… read more
Parts Town Doubles Down on Distribution Centers
Parts Town—a distributor of OEM foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and more—sees big things ahead. Late next year, the company expects to open a 420,000-square-foot distribution center in Glendale, Ariz. It will be the second distribution center for Parts Town, whose flagship center is in Addison, Ill. As is… read more
NAKS acquires Stainless Specialties
North American Kitchen Solutions—a manufacturer of ventilation systems and custom-fabricated workspaces—has announced its acquisition of the custom stainless fabricator Stainless Specialties Inc. Founded in 1993, SSI produces NSF-listed stainless countertops, tabletops, worktables, sinks, and other work surfaces for restaurants and foodservice facilities. The addition of SSI expands NAKS’ operating footprint to include three production facilities…. read more
How Restaurants Performed in Q4
Q4 restaurant sales and traffic trends revealed a “positive trajectory” for the industry, according to GuestXM by Black Box Intelligence’s Nov. 27 report. The firm says performance rebounded in October, offering some relief that September’s results were more inconsistent than a sign of a downturn for the industry. Overall, October saw same-store sales growth of… read more
Foxtrot and Dom’s Kitchen & Market to Merge
Chicago-based grocery startups Foxtrot and Dom’s Kitchen & Market, which looked to carve a niche in Chicago’s competitive grocery market with upscale, small-format stores, will merge. The merged companies will be helmed by Foxtrot CEO Liz Williams under a new entity, Outfox Hospitality. The deal is expected to close in the fourth quarter, the companies… read more
Lower grocery inflation is pulling consumers away from restaurants, study finds
About 1 in 4 consumers replaced restaurant meals with foodservice options from grocery stores in 2023, an increase of 17% from last year, according to new research from the retail trade association FMI. Shoppers are also cooking at home more often and creating hybrid meals that combine premade items with those made from scratch, according… read more
The Subway sale is not a done deal. And it may not be done for months
The U.S. Federal Trade Commission has apparently opened an investigation into Roark Capital’s acquisition of the sandwich giant, the publication Politico reported on Tuesday, citing multiple sources. The agency is apparently concerned about the level of dominance Roark would have in acquiring Subway. Roark also owns Subway rival Jimmy John’s, through its Inspire Brands arm,… read more
Global Foodservice News – November 15, 2023 Edition
Qu, a cloud-based POS system for limited-service restaurants, has landed an investment from Enlightened Hospitality Investments (EHI), the fund run by Union Square Hospitality Group founder and Chairman Danny Meyer. Terms of the deal were not disclosed. It’s the 22nd investment for EHI, which focuses on restaurants and restaurant tech suppliers. Qu offers what it… read more