A plant-based quick-service concept newly named Odd Burger has big plans to cross the Canadian border into the U.S. this year to plant its flag. Now officially named Odd Burger Corp. as of Tuesday, the Toronto-based parent company was previously known as Globally Local Technologies Inc. It went public in Canada in April, raising $4.2… read more
Global Foodservice News
Grubhub Launches Guarantee for on-Time Food Delivery and Lowest Price
With the ink dry on new ownership by Just Eat Takeaway, Grubhub on Monday took a shot at the competition by launching a new guarantee promising consumers on-time delivery at the lowest delivery price, or the diner will receive perks for free food. Calling it the Grubhub Guarantee, the Chicago-based delivery provider said the promise… read more
Ribs Chain Tony Roma’s has New Owner with Plans for Growth
Hoping to become the world’s leading American rib brand, the parent of Tony Roma’s on Tuesday announced it has been acquired by Equity Investors of New England Inc. Terms were not disclosed. In addition, Orlando, Fla.-based Romacorp Inc. named Ramon Bourgeois to the role of chief operating officer and acting CEO. Bourgeois is an industry… read more
Famous Dave’s Parent Company will Nearly Double in Size with Planned Acquisitions
In June, Famous Dave’s BBQ parent company BBQ Holdings announced its intention to acquire VIBSQ Holdco LLC, the parent of Village Inn and Bakers Square, for around $13.5 million, with the deal expected to go through by the end of July. With this deal, one year after the acquisitions of Granite City and Real Urban… read more
Ruby Tuesday Brings Virtual Concept to In-Store Menu
Ruby Tuesday announced the addition of Libby’s BBQ with a new feature menu this summer. Originally crafted in the Ruby Tuesday kitchen as a delivery-only concept, Libby’s BBQ offers smoky, tender, saucy BBQ entrees and is now available to order at all Ruby Tuesday locations for dine-in, Ruby TueGO and delivery for a limited time… read more
Alexander’s Acquisition Sign of ‘Incredible Year’ for SPB Hospitality
In the spring of 2020, CraftWorks Holdings was bankrupt and on the heels of closing 37 restaurants. COVID-19 forced the multi-concept group—rebranded in 2018 after its acquisition of Logan’s Roadhouse—to close all 261 of its corporate locations and terminate a majority of its 18,000 workforce. Court documents showed fewer than 25 employees remained “to help preserve,… read more
GLOBAL FOODSERVICE NEWS – JULY 1, 2021 EDITION
When the transaction closes, the company will have 14 concepts . . . . FAT Brands to Acquire Five Restaurant Chains for $442.5 Million The purchase of Global Franchise Group will give FAT Brands more than 2,000 franchised and company-owned restaurants around the world. FAT Brands announced Monday that it will spend $442.5 million to… read more
Where the Restaurant Recovery Goes from Here
A bipartisan group in Congress continues to chase $60 billion in further restaurant aid. A dozen senators and 150 House members sponsored legislation this week to replenish the Restaurant Revitalization Fund, which has faced its share of heat in recent days. The grant program rescinded nearly 3,000 minority- and women-owned applications due to a federal… read more
Taco Cabana Sold to YTC Enterprises
Taco Cabana was sold to YTC Enterprises, an affiliate of Yadav Enterprises, Inc., a Jack in the Box, El Pollo Loco, and Denny’s franchisee. Fiesta Restaurant Group is selling fast-casual Mexican restaurant Taco Cabana to YTC Enterprises, an affiliate of 400-unit, Jack in the Box, El Pollo Loco, and Denny’s franchisee, Yadav Enterprises, Inc. for… read more
Red Lobster Names Kelli Valade as CEO
Kim Lopdrup’s successor joins a casual-dining seafood brand from Black Box Intelligence Red Lobster has named Kelli Valade as CEO to succeed Kim Lopdrup, who plans to retire, the company said Thursday. The Orlando, Fla.-based casual-dining company said Valade, who had served as president and CEO of Dallas-based Black Box Intelligence since 2019, will assume… read more