Finances and Deals: Page 12
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Permission granted by First Watch
First Watch eyes significant growth following first day as public company
The proceeds of its IPO, which initially raised $170 million, will help pay off debt and fuel the chain's goal of reaching 2,200 units, CEO Chris Tomasso said.
By Julie Littman • Oct. 4, 2021 -
Courtesy of REEF Technology
Reef Technology's expansionReef Technology to open 500 ghost kitchens with 800 Degrees Pizza
The deal, which will add units in the U.S., Canada and international markets, comes less than two months after Reef partnered with Wendy's to open 700 kitchens.
By Aneurin Canham-Clyne • Sept. 30, 2021 -
Papa John’s signs largest domestic franchise deal ever
Sun Holdings has agreed to open 100 units in high-growth markets across Texas by 2029, a move that follows several large deals signed by the pizza chain to expand in new and existing international regions.
By Julie Littman • Sept. 29, 2021 -
Courtesy of Toast Inc.
Toast raises $870M on first day of IPO
Soon after trading began, co-founder Steve Fredette spoke to Restaurant Dive about investor interest during the company's roadshow and how it regained momentum after a battering from the pandemic.
By Julie Littman • Sept. 22, 2021 -
CFOs debate duration of inflation
"It's not clear yet what inflation will stick and what will be temporary," Chipotle Mexican Grill CFO Jack Hartung said Thursday, reflecting other industry leaders' concerns about planning in a year with unknown parameters.
By Jane Thier • Sept. 13, 2021 -
Permission granted by First Watch
First Watch IPO could raise up to $218M
The full-service breakfast concept has begun a roadshow for its proposed initial public offering of over 9 million shares, which are expected to be priced at $17 to $20 per share.
By Julie Littman • Updated Sept. 22, 2021 -
Permission granted by Fat Brants
Fat Brands to acquire Twin Peaks for $300M
The deal marks Fat's entry into "polished casual dining," a departure from its rosters of QSR, fast causal and casual restaurant brands, and is the company's second major purchase this summer.
By Emma Liem Beckett • Sept. 1, 2021 -
Courtesy of Toast Inc.
Toast increases IPO to $825M
The point-of-sale company increased its proposed maximum offering price from $100 million on Monday and estimated that its IPO prices per share would range from $30 to $33.
By Julie Littman • Updated Sept. 13, 2021 -
Courtesy of Spyce
Sweetgreen acquires automated restaurant company Spyce
The salad chain plans to use the Boston-based firm's robot-powered technology in its restaurants to improve the guest and employee experience.
By Julie Littman • Aug. 24, 2021 -
Retrieved from Umami Burger on July 06, 2021
TGI Fridays owner makes a $10M bet on C3's virtual brands
The investment, which is part of an $80 million funding round secured by C3 earlier this month, will bring the virtual brand creator's concepts to TriArtisan Capital's three restaurant brands to help boost revenue.
By Alicia Kelso • Aug. 23, 2021 -
Permission granted by WoodSpoon
Burger King parent leads $14M investment in home-cooked delivery company
Restaurant Brands International will use its financial backing of WoodSpoon to learn more about new service modes and emerging trends as it dives deeper into digital guest engagements.
By Alicia Kelso • Aug. 11, 2021 -
The image by Panera image by Mike Mozart/ Caribou image by Mack Male/ Einstein Bagel image by Phillip Pessar is licensed under CC BY 2.0 / Edited by Julie Littman/Restaurant Dive
Panera, Caribou, Einstein Bros. Bagels combine under Panera Brands platform
The formation of the group, which will have nearly 4,000 total locations, follows rumors that Panera Bread is considering going public.
By Julie Littman • Aug. 5, 2021 -
Courtesy of Gopuff
Gopuff raises another $1B to fuel rapid growth
The company, which is now valued at $15 billion, will use the funding to expand to new locations and offer fresh meal delivery through Gopuff Kitchens.
By Jeff Wells • Aug. 2, 2021 -
Courtesy of California Pizza Kitchen
California Pizza Kitchen mulling sale or IPO, Bloomberg reports
The casual chain's annualized earnings for June are expected to be more than $10 million higher than they were before the pandemic, per Bloomberg.
By Alicia Kelso • July 26, 2021 -
Courtesy of Business Wire
P.F. Chang's considering IPO, Bloomberg reports
The full-service chain could file to go public as early as this year and potentially have a valuation of at least $1 billion, the outlet said.
By Julie Littman • July 23, 2021 -
Retrieved from Chipotle/PR Newswire on March 09, 2021
Chipotle's digital sales rose 10.5% during Q2
CEO Brian Niccol said he expects the company's returns to continue to improve as it accelerates its order and pay ahead model, Chipotlanes, which open with 20% higher sales compared to traditional stores.
By Alicia Kelso , Julie Littman • July 21, 2021 -
Courtesy of Choco
Restaurant supply chain startup Choco secures $100M in funding
The company, which reported transaction volume quadrupling in the past year, will use the cash infusion to deploy new payment tools and expand in its existing markets.
By Alicia Kelso • July 20, 2021 -
Portillo's targets $100M IPO
The chain boasted strong restaurant-level sales, reaching $7.9 million average unit volumes in the 12 months ending June 27 compared to $7.7 million in 2020, according to its S-1 document filed Monday.
By Emma Liem Beckett • Updated Sept. 27, 2021 -
Retrieved from Acelerate on July 15, 2021
Host kitchen and software startup Acelerate secures $14.4M in funding
The company licenses seven proprietary brands to existing restaurants and works with operators to bring their menus to other restaurant partners.
By Alicia Kelso , Emma Liem Beckett • July 15, 2021 -
Courtesy of Krispy Kreme
Krispy Kreme prices IPO at $17, far below original plans
The doughnut chain had planned for a range of $21 to $24 per share, but the depressed price could hint at lukewarm investor interest.
By Emma Liem Beckett • July 1, 2021 -
Retrieved from Local Kitchens/Business Wire on June 28, 2021
Local Kitchens raises $25M, eyes market expansion
The digital food hall provider will use the funding to grow further into new California markets, as well as other regions.
By Julie Littman • June 29, 2021 -
Courtesy of Dutch Bros
Dutch Bros IPO prices above forecast for $3.8B valuation
The coffee chain will go public on the New York Stock Exchange Wednesday and raised the price of its shares to $23 each, an increase from its previously announced pricing of $18 to $20 per share.
By Alicia Kelso • Updated Sept. 15, 2021 -
Joe Raedle via Getty Images
Danny Meyer's equity group invests $21.5M in 7shifts' labor technology
7shifts will use the funding to scale its team and expand its product offerings, including scheduling and employee communication platforms.
By Alicia Kelso • May 26, 2021 -
Chris Hondros via Getty Images
Ghost kitchen provider JustKitchen to raise $20M as it plots US expansion
The company will enter Seattle and several California cities as part of its international growth plan, and will use the funds to develop software and build more spoke kitchens.
By Julie Littman • Updated June 9, 2021 -
Permission granted by Goldbelly
Goldbelly snags $100M after seeing 300% growth in 2020
The novelty food delivery service will put this capital infusion toward scaling its technology and operations and accelerating the onboarding of new chefs and restaurants.
By Emma Liem Beckett • May 19, 2021
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