Finances and Deals: Page 9

  • An image of two pizzas in front of a pizza oven.
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    Courtesy of Bertucci's
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    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 • Dec. 6, 2022
  • An image of a building with Fuzzy's Taco Shop logo.
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    Courtesy of Dine Brands
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    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 • Dec. 5, 2022
  • An image of a Le Pain Quotidien cafe
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    Jack Taylor via Getty Images
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    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 • Nov. 21, 2022
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    Dane via Flickr
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    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 • Oct. 25, 2022
  • An image of a red vending machine that serves burgers.
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    Courtesy of RoboBurger
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    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 • Oct. 20, 2022
  • An image of an indoor mini golf course with neon lighting
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    Permission granted by Puttshack
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    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 , • Oct. 11, 2022
  • A stock image of a Pizza party
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    Getty Images
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    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 • Oct. 4, 2022
  • Livestock cows in New Zealand
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    Permission granted by Silver Fern Farms
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    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
  • True Food Kitchen dining room interior
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    "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
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    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 • Updated Sept. 21, 2022
  • Burger King gets a fresh look
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    Courtesy of Burger King
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    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 • Sept. 12, 2022
  • An image of two men wearing black shirts with Freddy's on them.
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    Permission granted by Freddy's
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    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
  • Black waiter, restaurant
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    Getty Images
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    Danny Meyer’s investment arm injects $10M into voice AI tech firm

    ConverseNow, which partners with 1,200 restaurants across 40 states, plans to use this cash better meet demand.

    By Alicia Kelso • Aug. 24, 2022
  • Jack in the Box's unchicken sandwich, which was an LTO during fall of 2020.
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    Courtesy of Jack in the Box
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    Jack in the Box offers multi-unit franchisees discounted royalty rates

    The incentive program, which is available to operators who develop at least three stores, could save franchisees $180,000 per unit, the chain claims.

    By • Aug. 17, 2022
  • 7-Eleven launches 7Now Gold Pass.
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    Courtesy of 7-Eleven
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    7-Eleven reportedly acquires delivery startup, intends to compete with DoorDash

    The c-store giant bought Skipcart, which provides same-day and on-demand delivery, according to The Information. 

    By Brett Dworski • Aug. 8, 2022
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    hapabapa via Getty Images
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    McDonald's digital sales top $6B across top 6 markets

    Digital channels account for about a quarter of the chain’s sales in the U.S.

    By • July 27, 2022
  • Image of a counter with a ordering kiosk and shelves in the background with bags.
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    Permission granted by Kitchen United
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    Kitchen United secures $100M

    The firm plans to grow from 15 locations to over 500 using malls, shopping centers and supermarkets operated by new investors, Business Insider reports.

    By • July 25, 2022
  • An image of a roundabout with a fountain outside a beige building with a sign that says Keke's Breakfast Cafe
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    Permission granted by Denny's
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    Denny's completes $82.5M acquisition of Keke's Breakfast Cafe

    The breakfast chain, which has 52 locations in Florida, is expected to provide expansion opportunities as a complementary concept for Denny’s.

    By • July 21, 2022
  • An image of a stainless steel kitchen makeline
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    Courtesy of Chipotle/Hyphen
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    Chipotle invests in kitchen automation platform Hyphen

    The tech firm and mushroom-based protein company Meati are the first recipients of Chipotle’s venture fund Cultivate Next.

    By • July 21, 2022
  • Ordering takeout and delivery convenience food from an online Asian restaurant delivery meal from a smart phone.
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    Getty Images
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    ChowNow CEO: More restaurant tech industry layoffs are coming

    The company had one of its best sales months in June, but rising interest rates and more expensive capital has Chris Webb preparing for a financial hurricane.

    By • July 19, 2022
  • Citzens New York Culinary Market at Manhattan West
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    Courtesy of C3
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    C3 lands more capital to expand further into hotels, stadiums

    The virtual restaurant company, which secured $80 million in funding last summer and $10 million in October, said the capital will also allow it to grow into new cities and suburbs.

    By Alicia Kelso • July 13, 2022
  • An image inside Cruising Kitchens' manufacturing facility where it builds food trucks.
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    Retrieved from Cruising Kitchens on July 11, 2022
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    Ghost Financial injects $100M into food truck manufacturer Cruising Kitchens

    The funding supports CK Ghost Kitchens, a new Cruising Kitchens division focused on developing ghost kitchen and food truck licensing agreements with celebrities, influencers and athletes. 

    By • July 11, 2022
  • A group of people are enjoying their meal at a bright restaurant while one looks on a smartphone.
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    Getty Images
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    Sponsored by Cybersource

    Latent loyalty: How restaurants can improve customer retention and profits through a digital-first loyalty program

    Restaurants need the right partners to help them identify customers offering them promotions that lead to increased loyalty.

    July 11, 2022
  • Toast Inc. point of sale device
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    Courtesy of Toast Inc.
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    Toast buys Sling to enhance employee scheduling, communications

    The purchase will enhance Toast’s Team Management offerings by helping operators pay workers faster and better manage labor costs, Toast said.

    By • July 7, 2022
  • Gopuff
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    Courtesy of Gopuff
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    BurgerFi and Gopuff expand delivery nationwide

    Following a 90-day trial in Florida, the companies are bringing BurgerFi’s products to more than 30 Gopuff food halls throughout the U.S.

    By • July 7, 2022
  • Panera Bread storefront
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    Permission granted by Panera Bread
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    Panera terminates agreement with Danny Meyer's SPAC

    Due to unfavorable capital market conditions, Panera Brands and USHG Acquisition Corp. ended their relationship Friday. Panera said it will continue to explore a public listing if conditions improve.

    By • July 1, 2022