Finances and Deals: Page 6
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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 -
Explore the Trendlineâž”
VioletaStoimenova via Getty Images
TrendlineRestaurant Financing
With ongoing macroeconomic pressures facing restaurants, operators are entering into alternative financing, mergers and acquisitions and even bankruptcy to sustain their businesses.
By Restaurant Dive staff -
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 -
FG Trade via Getty Images
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 -
Courtesy of Jack in the Box
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 Aneurin Canham-Clyne • Aug. 17, 2022 -
Courtesy of 7-Eleven
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 -
hapabapa via Getty Images
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 Emma Liem Beckett • July 27, 2022 -
Permission granted by Kitchen United
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 Julie Littman • July 25, 2022 -
Permission granted by Denny's
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 Julie Littman • July 21, 2022 -
Courtesy of Chipotle/Hyphen
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 Julie Littman • July 21, 2022 -
YinYang via Getty Images
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 Emma Liem Beckett • July 19, 2022 -
Courtesy of C3
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 -
Retrieved from Cruising Kitchens on July 11, 2022
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 Emma Liem Beckett • July 11, 2022
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