Sonic is now part of the Roark Capital portfolio of restaurant companies with Inspire Brands finalizing its acquisition of the $2.3B deal for the quick-service drive-in chain. Inspire Brands is led by Paul Brown and Sonic will be led by Claudia San Pedro, serving as Sonic president, announced post-acquisition agreement. Cliff Hudson will be a senior advisor to Sonic until next March for transition purchases.
As foodservice distributors face cost pressures, Amazon becomes leading source for online foodservice purchases
According to a study by Technomic, Inc., a Chicago-based foodservice consultancy, Amazon was recognized as a leading source for online purchases from foodservice operators. The 2018 E-Sourcing Impact Study indicates that over 40 percent of foodservice operators indicated using e-sourcing at least once per month. E-sourcing will not become the primary source of purchases for operators… Labor shortages will continue to impact foodservice distributors, in addition to their restaurant operator customers.
Restaurant data is helping chains grow. There are several high-impact uses: to analyze data to customize the guest experience, to create offers and marketing campaigns with a higher value proposition, to understand social sentiment and to learn from such feedback using text data analysis, and to create predictive analysis to create better food delivery experiences for customers. Predictive analysis, social sentiment... tools in restaurant data.
Cava has completed the acquisition of Zoe's Kitchen, according to an announcement from Cava November 21. Zoe’s shareholders received $12.75 per share in the all-cash transaction. Panera Founder Ron Shaich had backed the deal, which was funded by his Act II Holdings investment... SWaN & Legend Venture Partners and Revolution Growth.
Food and beverage trends are usually based on more than just flavor profiles. What becomes popular is often based on the mood of the market. The attitude of the consumer is decided by the perceived strength of the economy, collective fears and anxiety, or other often hard to predict factors. On the topic of predicting up-and-comers, top forensic trendologist, Suzy Badaracco, president of Culinary Tides, explains that consumers are not feeling particularly grounded or confident... 2019 food trends
Sweetgreen, a health-oriented fast-casual chain, serving creative salads and bowls built around proteins, grains and vegetables, has raised $200M in its latest raise, following a $35M raise just three years ago. This new round was led by Fidelity Investments. Sweetgreen plans to use the investment to further advance its digital platform, it announced... allow the 90-unit chain to advance its supply chain platform through the use of blockchain.
Charlotte, N.C.-based Bojangles’ announced that it would be acquired by Durational Capital Management and The Jordan Company for $16.10 per share or about $594M... The buyout offer represents a 39-percent premium over the closing share price February 12, 2018, when there was initial speculation of a potential transaction, said the 766-unit chicken and biscuit chain.... a Bojangles’ sale culminated in a report by Reuters September 28 that the company was seeking strategic alternatives.