Finances and Deals: Page 8
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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 -
Explore the Trendline➔
Violeta Stoimenova 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 -
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 -
Geber86 via Getty Images
Sponsored by CybersourceLatent 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 -
Courtesy of Toast Inc.
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 Emma Liem Beckett • July 7, 2022 -
Courtesy of Gopuff
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 Aneurin Canham-Clyne • July 7, 2022 -
Permission granted by Panera Bread
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 Julie Littman • July 1, 2022 -
Courtesy of Sharebite
Food benefits platform Sharebite raises $39M
The technology, which enables restaurants to deliver food to corporate clients, will use the funding to grow and launch new products.
By Alicia Kelso • June 29, 2022 -
Courtesy of REEF Technology
Reef Technology's expansionReef pursues ownership stake in pizza concept
Reef's EVP for Kitchens and Brands, Kenneth Rourke, will join the board of 800 Degrees Go, a joint venture between 800 Degrees and robotics company Piestro.
By Aneurin Canham-Clyne • April 29, 2022 -
andresr via Getty Images
Gov. Pritzker signs budget deal with $50M for Illinois restaurants
Restaurants and taverns with 50 employees or fewer can snag grants of up to $50,000 if they haven't received RRF grants or other state or local financial aid.
By Emma Liem Beckett • April 26, 2022 -
Cindy Ord via Getty Images
Activist investor: JET's Grubhub purchase is a 'capital allocation mistake'
Cat Rock Capital Management, which owns 6.9% of shares in Just Eat Takeaway, urged investors to vote against JET's CFO and supervisory board.
By Julie Littman • April 25, 2022
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