Finances and Deals: Page 7

  • Just Salad CFO Jared Garber
    Image attribution tooltip
    Permission granted by Just Salad
    Image attribution tooltip

    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 • March 6, 2023
  • Corner Bakery storefront
    Image attribution tooltip
    Thai Phi Le/Restaurant Dive
    Image attribution tooltip

    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 • Feb. 24, 2023
  • Shot of three business persons filling in paperwork in an office. Explore the Trendline➔
    Image attribution tooltip
    Violeta Stoimenova via Getty Images
    Image attribution tooltip
    Trendline

    Restaurant 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
  • An image of a robot at Loyola Marymount University
    Image attribution tooltip
    Permission granted by Kiwibot
    Image attribution tooltip

    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 • Feb. 22, 2023
  • An image of a customer entering a Cava restaurant.
    Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    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 • Feb. 21, 2023
  • An image of a Subway sandwich in a plastic package.
    Image attribution tooltip
    Courtesy of Subway
    Image attribution tooltip

    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 • Feb. 14, 2023
  • An Uber Eats order is handed to an end customer.
    Image attribution tooltip
    Courtesy of Uber
    Image attribution tooltip

    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 • Feb. 9, 2023
  • Uber Eats app functionality in stadiums
    Image attribution tooltip
    Permission granted by Uber Eats
    Image attribution tooltip

    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 • Feb. 8, 2023
  • An image of a Cava with a mobile order pickup
    Image attribution tooltip
    Julie Littman/Restaurant Dive
    Image attribution tooltip

    Cava files confidential IPO

    The fast casual chain appears to be the first major restaurant chain to seek an IPO this year.

    By • Feb. 6, 2023
  • Image attribution tooltip
    yaoinlove via Getty Images
    Image attribution tooltip

    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 • Jan. 31, 2023
  • A woman sits at a coffee table looking at a tablet.
    Image attribution tooltip
    andresr via Getty Images
    Image attribution tooltip
    Q&A

    Earnings 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 • Jan. 30, 2023
  • Burger King gets a fresh look
    Image attribution tooltip
    Courtesy of Burger King
    Image attribution tooltip

    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 • Jan. 5, 2023
  • A promotional image for Freshii's coffee beverages.
    Image attribution tooltip
    Courtesy of Freshii
    Image attribution tooltip

    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 • Dec. 19, 2022
  • The logo for Nick the Greek, a fast casual chain now controlled by Anil Yadav.
    Image attribution tooltip
    Courtesy of Nick the Greek
    Image attribution tooltip

    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 • Dec. 13, 2022
  • An image of two men wearing blue shirts
    Image attribution tooltip
    Courtesy of MarginEdge
    Image attribution tooltip

    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 • Dec. 8, 2022
  • An image of two pizzas in front of a pizza oven.
    Image attribution tooltip
    Courtesy of Bertucci's
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Dine Brands
    Image attribution tooltip

    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
    Image attribution tooltip
    Jack Taylor via Getty Images
    Image attribution tooltip

    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
  • Image attribution tooltip
    Dane via Flickr
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of RoboBurger
    Image attribution tooltip

    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
    Image attribution tooltip
    Permission granted by Puttshack
    Image attribution tooltip

    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
    Image attribution tooltip
    Maria Korneeva via Getty Images
    Image attribution tooltip

    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
    Image attribution tooltip
    Permission granted by Silver Fern Farms
    Image attribution tooltip

    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
    Image attribution tooltip
    "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
    Image attribution tooltip

    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
    Image attribution tooltip
    Courtesy of Burger King
    Image attribution tooltip

    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.
    Image attribution tooltip
    Permission granted by Freddy's
    Image attribution tooltip

    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