US Foods will open a new Chef’Store in Spartanburg, South Carolina. The new outlet for US Foods cash-and-carry chain becomes the fourth store in the state. Three existing South Carolina stores are located in Charleston, Myrtle Beach and Columbia.
Activist investment firm strikes deal to install three directors, remove CEO Pietro Satriano
US Foods announced that Pietro Satriano has stepped down as CEO upon the request of the Board of Directors, as per a cooperation agreement with Sachem Head Capital Management. Satriano will not be standing for re-election to the board, either, and is leaving the company. This is the latest chapter in the months-long proxy fight between US Foods and Sachem Head, its largest investor, which took an activist position. At one time, Sachem Capital had attempted to install its own CEO.
Winsight readies show, taking place May 21-24 at its home in McCormick Place
The National Restaurant Association’s Restaurant, Hotel-Motel Show 2022 will take place May 21-24, 2022 at McCormick Place in Chicago. The show host, Winsight Exhibitions, is readying a national foodservice event with more than 500 new exhibitors creating a total of 1,000 exhibitors.
Patrick Hagerty promoted to PFG EVP, chief commercial officer
Performance Food Group (PFG) promoted Craig Hoskins to president and chief operating officer, charged with PFG’s Foodservice and Vistar operations. PFG also promoted Patrick Hagerty to the role of EVP and chief commercial officer. The expansion of their roles is part of a realignment of the company’s reporting structure. It will now better match PFG’s strategy for growth across business units, the broadline distributor announced.
Mills spent 22 years at Richmond’s Altria Group
Performance Food Group named Claudia Mills vice president of Diversity and Inclusion. Mills, who comes from Altria Group, Inc., takes the post May 17, 2021. She has a record of results through transformation and has experience with promoting inclusion.
New board member adds perspective on racial disparities, business strategies
Deval Patrick joined the Toast Board of Directors. Patrick serves as a senior advisor at Bain Capital. He is also the founder and chairman of TogetherFUND, a PAC (political action committee) that was created to increase voter engagement among disenfranchised and marginalized voters.
$100M IPO a barometer of digital marketplace for restaurants
Olo, a technology company that provides order integration and fulfillment technology to restaurants, has filed for an initial public offering valued at $100M. The leading food-ordering open-SAAS platform architecture company has experienced incredible demand for its products as restaurant companies have turned to digital ordering, propelled by customers seeking off-premises meal consumption.
Pentallect suggests Walmart may be more immediate threat than Amazon
Foodservice distributors have turned some of their attention to the cash-and-carry model in the past few years, identifying their value to small, independent restaurant operators. As an example, US Foods acquired Smart Foodservice Warehouse Stores last April and is now rebranding these stores under its Chef’Store label. There’s a lot to be said about the appeal of retail-type outlets that cater to foodservice operators and provide the flexibility that they may want during on-and-off-again local and state restrictions.
US Foods will rebrand its Smart Foodservice Warehouse Stores as US Foods Chef’Stores. The rebrand of 72 Smart Foodservice Warehouse units, which US Foods, acquired last April, will consist of new signage, marketing collateral, employee uniforms and other key branding elements.
Historic distillery now has distribution in five states
Brough Brothers Distillery has become the first and only Black-owned distillery in the state of Kentucky. December brought Louisville the historic bourbon whiskey distillery. For founders Victor, Bryson, and Christian Yarbrough, the distillery is a milestone and a sign of their entrepreneurial spirit.