Finances and Deals: Page 4
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Permission granted by Just Salad
Just Salad taps Goldman Sachs vet as CFO
Jared Garber joins the company during the fastest growth period in its 17-year history, and will lead the chain’s financial operations as it scales up.
By Emma Liem Beckett • March 6, 2023 -
Thai Phi Le/Restaurant Dive
Corner Bakery files for Chapter 11 bankruptcy
The cafe chain’s Wednesday filing brings an end to a two-year period with few major restaurant bankruptcy announcements.
By Emma Liem Beckett • Feb. 24, 2023 -
Permission granted by Kiwibot
Kiwibot secures $10M in financing to support growth
Through a partnership with Kineo, the delivery robotics company will use the alternative financing to support manufacturing and scale of its robotics fleet.
By Julie Littman • Feb. 22, 2023 -
Mario Tama via Getty Images
Why 2023 isn’t the best time for restaurants to go public
Cava filed a confidential IPO earlier this month and other restaurants are rumored to go public this year, but analysts are worried about chains’ compressed margins and profitability struggles.
By Julie Littman • Feb. 21, 2023 -
Courtesy of Subway
Subway confirms it is looking to sell
The sandwich chain has enlisted JP Morgan to advise its sale exploration process, but did not offer estimates of when the sale might occur.
By Aneurin Canham-Clyne • Feb. 14, 2023 -
Courtesy of Uber
Uber One subscription is boosting delivery spend, frequency and user loyalty for Uber Eats
Delivery made up 34% of Uber’s revenue, and ongoing investment in non-restaurant categories, like grocery, c-store and alcohol, may help growth.
By Emma Liem Beckett • Feb. 9, 2023 -
Permission granted by Uber Eats
Uber Eats to back community development loans for Black-owned restaurants
The delivery aggregator will partner with the Local Initiatives Support Corporation to provide financing to Black restaurant owners in disadvantaged neighborhoods.
By Aneurin Canham-Clyne • Feb. 8, 2023 -
Julie Littman/Restaurant Dive
Cava files confidential IPO
The fast casual chain appears to be the first major restaurant chain to seek an IPO this year.
By Julie Littman • Feb. 6, 2023 -
yaoinlove via Getty Images
McDonald’s will lean into chicken, coffee to grow diner frequency
The core menu categories pose significant growth opportunity, McDonald’s executives said Tuesday, as the chain aims to better compete with chicken-only chains and leverage coffee’s high margins.
By Emma Liem Beckett • Jan. 31, 2023 -
andresr via Getty Images
Q&AEarnings instability has led to fewer restaurant lenders
Despite institutions pulling back from offering loans to restaurants, CapitalSpring’s Erik Herrmann says there are other options.
By Julie Littman • Jan. 30, 2023 -
Courtesy of Burger King
90-unit Burger King franchisee files for bankruptcy
Toms King Holdings felt the pinch on cash flow due to increased shipping and food costs, inflation and decreased availability of labor.
By Aneurin Canham-Clyne • Jan. 5, 2023 -
Courtesy of Freshii
Freshii sells to Foodtastic for $54.5M
Cash-strapped Freshii, which operates 37 U.S. locations out of 330-plus North American stores, marks Foodtastic’s second restaurant buy this month.
By Aneurin Canham-Clyne • Dec. 19, 2022 -
Courtesy of Nick the Greek
Jack in the Box’s largest franchisee buys Nick the Greek
Anil Yadav’s YTG Enterprises has acquired a controlling stake in the 48-unit chain just over a year after it bought Taco Cabana for $85 million.
By Aneurin Canham-Clyne • Dec. 13, 2022 -
Courtesy of MarginEdge
MarginEdge secures $45M in capital
The capital infusion, which the restaurant tech firm will use to grow its team and improve its core products, brings its total funding to over $70 million.
By Julie Littman • Dec. 8, 2022 -
Courtesy of Bertucci's
Bertucci’s declares bankruptcy for second time
The casual pizza chain blamed the impact of the COVID-19 pandemic, inflation, sales declines and increased expenses for the Chapter 11 filing.
By Julie Littman • Dec. 6, 2022 -
Courtesy of Dine Brands
Dine Brands to buy Fuzzy’s Taco Shop for $80M
The acquisition is the first for Dine Brands since it was founded in 2007, and adds a third restaurant to its portfolio.
By Julie Littman • Dec. 5, 2022 -
Jack Taylor via Getty Images
Le Pain Quotidien, The Little Beet, Table By Little Beet combine to form Convive Brands
The company will encompass 70 restaurants, which were previously operated by Aurify Brands, under CEO Jon Weber’s leadership.
By Julie Littman • Nov. 21, 2022 -
Yum Brands sells Russian KFC units, exits country
Smart Service, which is operated by local KFC franchisees in Russia, will be responsible for rebranding 1,000 units to non-Yum concepts.
By Julie Littman • Oct. 25, 2022 -
Courtesy of RoboBurger
RoboBurger secures $10M investment to support growth
The funds from Promethean Investments will help RoboBurger, which opened a pop-up in March, scale production of its second-generation cooking robot.
By Julie Littman • Oct. 20, 2022 -
Permission granted by Puttshack
Puttshack raises $150M in capital to support rapid US growth
With capital from funds managed by BlackRock and support from Promethean Investments, Puttshack plans to open nearly a dozen U.S. units through 2023.
By Julie Littman , Emma Liem Beckett • Oct. 11, 2022 -
Maria Korneeva via Getty Images
Pizza robot truck startup Stellar snags $16.5M from Jay-Z
The funding from Jay-Z’s Marcy Venture Partners was reported by multiple outlets, and follows an earlier $9 million round led by other investors.
By Aneurin Canham-Clyne • Oct. 4, 2022 -
Permission granted by Silver Fern Farms
Report: Beef prices to rise 15% in 2023, poultry costs will fall
Poultry prices are expected to ease substantially next year, benefiting chicken-heavy brands like Wingstop and Chipotle, according to a BTIG report.
By Alicia Kelso • Sept. 22, 2022 -
"The crowded interior of the True Food Kitchen restaurant in Chicago, inspired by the philosophy that "Better food makes better living" and based on the principles of the anti-inflammatory diet" by Marco Verch is licensed under CC BY 2.0
True Food Kitchen will use $100M funding to grow, launch smaller units
The investment round, led by HumanCo and Manna Tree, is the 43-unit wellness chain’s largest cash infusion since its founding in 2008.
By Emma Liem Beckett • Updated Sept. 21, 2022 -
Courtesy of Burger King
RBI announces $400M marketing and remodel overhaul for Burger King
The company’s programs, Fuel the Flame and Royal Reset, aim to modernize the brand and remodel 800 restaurants by the end of 2025.
By Aneurin Canham-Clyne • Sept. 12, 2022 -
Permission granted by Freddy's
Freddy’s names COO, VP of finance as it continues to expand
Brian Wise, who previously served as SVP of operations, was promoted to chief operating officer, while Jerry Kunz joined the company from First Watch.
By Alicia Kelso • Aug. 30, 2022
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