Thai Union, which led an investment group that acquired the casual dining seafood chain in 2020, said that it plans to exit the business. Thai Union Group has apparently had enough endless shrimp. The Bangkok-based seafood supplier, which has been an investor in Red Lobster since 2016, now wants out of the business, the company… read more

The Atlanta-based chain signed a pair of deals to expand into Canada and Latin America, its first international development agreements. Jimmy John’s is going to Canada. And to Latin America. The Atlanta-based sandwich chain on Wednesday said it signed a pair of development agreements that will take the brand beyond its borders for the first… read more

The burger chain said that Kirk Tanner will lead the company into its “next phase of growth and expansion.” He replaces Todd Penegor. Wendy’s on Thursday made an unexpected change at the top, naming former PepsiCo executive Kirk Tanner to be the company’s next CEO. Tanner will replace Todd Penegor, who has been an executive… read more

Several other states will increase their hourly minimums later in the year. NATIONAL REPORT — Retailers across the country will increase their operating budgets as the new year brings new wage hikes. Higher minimum wages took effect in 22 states on Jan. 1. Employees in seven states — California, Connecticut, Maryland, Massachusetts, New Jersey, New… read more

Founded in 2016, the quick-service bowl-and-smoothie chain said it plans to have more than 200 U.S. stores by 2026. Brazilian açaí concept Oakberry announced on Tuesday that it raised $67 million in its latest funding round, earmarked to fuel its U.S. growth. Oakberry has 35 stores in the United States but said it intends to… read more

In the Barbie movie, powerful and influential positions are all held by women. It was hard not to compare the summer blockbuster, which encourages women to be authentic and self-confident, to the energy at our inaugural CSP C-Store Women event November in Napa, California. I got chills as I looked around the welcome party on… read more

The Israeli cultivated meat company touts this as the “world’s first” product of its kind that accurately replicates the “complex texture” of the fish. Dive Brief: Steakholder Foods, an Israeli cultivated meat company, has created “the world’s first” plant-based 3D-printed eel. Using a “unique combination of materials,” and a “precise layering technique,” the company has… read more

ST. PAUL, MINN. — Functional formulations may be the next step in the future of alcohol-free beverages. Having originated with an initial focus on creating sober beer options, the alcohol-free beverage trend has seen rising interest over the last few years. Data from drinks market analysis company IWSR found the low- and no-alcohol products segment… read more

In this season of attempting to peek around the corner to see what’s ahead, here are the predictions from the editors of Restaurant Business. It has been a year of keeping our collective fingers to the economic wind to see which way the consumer mindset is blowing. So much so, our fingers are getting chapped…. read more

Investment firm Platinum Equity will buy Horizon Organic and Wallaby. PARIS — Danone announced Tuesday that it has signed an agreement to sell its premium organic dairy activity in the U.S. to Platinum Equity, a U.S.-based investment firm. The sale is part of Danone’s portfolio review and asset rotation program the company announced in March… read more