Personnel Updates:
Arby’s Restaurant Group Inc. named George Condos as COO and Russ Klein as Chief Marketing Officer. Arby’s also announced that Nils Okeson has rejoined Arby’s as General Counsel and Chief Development Officer.
Ark Restaurants Corp. announced that CEO/President Robert Tower resigned effective 1/1/12.
Capriotti’spromoted Patrick Walls to the role of President.
Charley’s Grilled Subs promoted Bob Wright to President/COO.
Church’s Chicken announced the following personnel changes: Edward Brett was named Exec VP/Chief People Officer; Edward Williams was named VP of Company Operations; Zack Kollias was promoted to Exec VP International Operations; and Marcus Wasdin was promoted to VP Information Systems and Learning Technology.
Denihan Hospitality appointed its CFO David Duncan to the newly created role of President.
Francesca’shired Trenton Brown as CEO.
HMSHost Corp. named Tom Fricke CEO/President, succeeding Elie W. Maalouf.
Hooters of America LLC announced that Claudia Levitas has joined the company as Chief Legal Officer and General Counsel; she was most recently at Huddle House.
InterContinental Hotels Group announced that Robert “Bob” Morse has been appointed Senior VP and COO for the Americas region.
Kona Grill, Inc. appointed Berke Bakay as President and CEO. Bakay succeeds Mike Nahkunst.
Loews Hotels announced that Paul W. Whetsell is succeeding Jack Adler as CEO/President.
McCormick & Schmick’s dismissed Chairman Douglas Schmick, CEO William Freeman, and CFO Michelle Lantow following its acquisition by Landry’s.
MTR Gaming Group named Chris Kern General Manager of its Mountaineer Casino, Racetrack and Resort.
O’Charley’s Inc. named Rick Trebilcock VP of Marketing and Phil Trello as Director of Construction and Facilities; the company also promoted Allie Garmon to Manager of Accounting, David Hill to Director of Financial Reporting, Laurie Katapski to Senior Director of Marketing, and Joe Rymer to VP/Corporate Controller.
OSI Restaurant Partners named CEO Elizabeth Smith to the additional role of Chairperson. OSI Restaurant Partners also announced the following changes in responsibility among the company’s Senior management team: CFO Dirk Montgomery will take on the new position of Chief Value Chain Officer with responsibility for productivity, global supply chain and IT; Chief Brand Officer Jody Bilney will also oversee the R&D organization.
Pizza Innnamed Jerome L. Trojan III as CFO.
Pizza Ranch, Inc. announced the appointment of Cody Pierce as VP of Marketing.
Ruby Tuesdayannounced that CFO Marguerite N. Duffy will retire 6/5/12; a search has begun for her successor.
Sodexoappointed Olivier Poirot Senior VP and CFO; he succeeds Debbie White who has been named CEO for Sodexo UK and Ireland.
SYSCO Corporation announced that William W. Goetz has joined the company in the newly created role of Senior VP Marketing.
The Wendy’s Company announced the appointment of R. Scott Toop as Senior VP, General Counsel, and Corporate Secretary; he was most recently at Tim Hortons.
Tim Hortonsannounced that Exec VP/General Counsel Scott Toop left the company effective 1/13/12.
Wild Wing Cafénamed Edna Morris as Interim CEO following its acquisition by Axum Capital Partners.
Wingstoppromoted David Vernon to Senior VP of Development, overseeing franchise development, construction, and real estate.
Zoës Kitchennamed Allyn Taylor as VP of Development, Rachel Phillips-Luther as VP of Marketing, and Archie Andres to VP of Design and Construction.
Financial Focus:
Buffets Inc. (dba Old Country Buffet, HomeTown Buffet, and Ryan’s Steak) filed for Chapter 11 bankruptcy protection and closed 81 restaurants.
Dover Downs Gaming & Entertainment, Inc. reported revenues of $239,942,000 for the year ending 12/31/11.
Dover Motorsports, Inc. reported revenues of $51,870,000 for the year ending 12/31/11.
International Speedway Corporation reported revenues of $629,685,000 for the year ending 11/30/11.
McDonald’sreported revenues of $27,006,000.000 for the year ending 12/31/11.
Penn National Gaming reported net revenues of $2,74
2,257,000 for the year ending 12/31/11.
Smashburgerreported systemwide sales of $115,700,000 for 2011.
Mergers & Acquisitions:
Axum Capital Partners announced that it has acquired a controlling interest in Wings Over America (dba Wild Wing Café).
Figaro’s Italian Pizza Inc. reported that it has completed the previously-announced acquisition of the 17-unit Nick ‘N’ Willy’s chain of take-and-bake pizzerias.
Friendly Ice Cream Corp. was acquired by Friendly Ice Cream LLC and closed 37 stores in CT, MA, RI, and elsewhere as it emerged from Chapter 11 bankruptcy.
Landry’s Restaurant owner Tilman Fertitta completed his acquisition of McCormick’s & Schmick’s Restaurants.
Mrs. Fields Famous Brands brought in Z Capital Partners as a majority owner.
NPC Interntaional will purchase an additional 36 Pizza Hut restaurants from Pizza Hut Inc.
Prime Restaurants Inc. was acquired by a subsidiary of Fairfax Financial Holdings Ltd.
Quiznosannounced a restructuring deal that gave controlling interest of the company to Avenue Capital Group.
Industry Insight:
Baskin-Robbinshas signed a franchise development agreement for up to 50 locations in Vietnam.
Beef ‘O’ Brady’s announced a five-year agreement with SYSCO Corp. as its primary food distributor. Beef ‘O’ Brady’s also signed a master license agreement for Saudi Arabia.
Charlie Trotter’s restaurant will close at the end of August.
Chipotle is adding locations in London and Paris and plan to expand into Germany.
Craft Brewers Alliance Inc. changed its name to Craft Brew Alliance Inc.
KDK Inc., Arby’s franchisee, has closed all 10 of its restaurants in MD and VA.
Nestlé Toll House Café by Chip has announced the grand opening of its first café in the Kingdom of Saudi Arabia.
Quiznos is expanding to the Philippines with an agreement for 35 new locations.
Smashburgerwill expand into Latin America through a development agreement for 18 restaurants; Costa Rica locations will open in 2012.
Starbucks Coffee Company announced plans to bring wine, beer and premium food offerings to a handful of locations in Atlanta and Southern CA by the end of this year.
Subway plans to enter Estonia in the next few months.
SYSCO San Antonio has relocated to 1260 Schwab Rd., New Braunfels, TX 78132-5155; the new local phone number is 830-730-1000.
Taco Bell announced plans to introduce an 11-item breakfast menu in 750 restaurants in 10 states by 2014.
The Counter Custom Built Burgers and Americana Group, the Middle East’s leading restaurant, food product distributor and retail company, announced a development agreement to open and operate 33 new locations in the United Arab Emirates, Kuwait, Qatar, Oman, Jordan, Lebanon, Egypt, Libya, Tunisia, Algeria and England.
Yum! Brandsplans to expand KFC into seven more African countries in 2012, adding 100 new stores.
Real Estate:
Bennigan’s Franchising Company plans to open 12 new locations in 2012, with openings in AR, DC, FL MD, NJ, and TX as well as Cyprus, South Korea, Mexico, El Salvador, and Dubai.
Boloco will enter a new market in 2012 with two locations in Washington, DC.
Chick-fil-Ahas plans to open eight new units in the Houston market this year.
Dunkin’ Donuts plans to double the number of domestic locations over the next 20 years. A new eight-unit development agreement for Des Moines, IA, was announced, as well as an agreement for 12 new restaurants in North Omaha, NE, and Sioux City, IA.
Fazoli’sexpects to open at least eight new company and franchised restaurants in 2012. Its first travel center is scheduled to open in March on I-79 in Fairmont, WV.
Freddy’swill debut in UT, FL, NV, AR, and NM in 2012, as well as many new regional sites in established states.
Jake’s Wayback Burgers recently announced that it will open its first location in CA, first two locations in OR, and first location in IN, as well as its first locations in NH and VA, in 2012.
Jersey Mike’swill open new units in 23 states including CA, IL, TX, VA, and FL. Target markets for new fra
nchisees include Seattle, New York, Atlanta, Minneapolis, Orlando and Tampa, Florida, Portland, Oregon, New Jersey, and Houston.
Olga’s Kitchenwill expand to nine Midwestern markets over the next three years and will open locations in Detroit, Chicago, Indianapolis, and Columbus in 2012.
Olive Gardenopened its first location in AK.
Pinkberrysigned a franchise agreement for six stores in Las Vegas, NV.
Red Mangohas awarded agreements for more than 70 domestic locations, including new markets in CT, SD, and TN.
Ruby Tuesdayplans to open six to eight Lime Fresh Mexican Grill restaurants this year.
Saladworksannounced a development agreement for three locations in Tampa, FL.
Smashburgerplans to open 50-70 new locations in 2012 and is seeking qualified franchise partners to help grow its existing corporate presence in Chicago, Houston, Dallas, Los Angeles and Minneapolis, as well as enter new U.S. markets like San Francisco, Boston, Washington, D.C. and additional international territories, including operations in Western Europe, South America and Asia.
Steak ‘n Shakeopened its first location in New York City.
The Wendy’s Company plans to build 20 and remodel 50 company-operated restaurants in 2012.
Togo’s Eateries, Inc. is seeking to expand in the key growth states of AZ, NV, OR, and WA.
Twin Peaks Restaurant Group has named priority markets for development and is seeking franchisees in Baltimore; Las Vegas; Chicago; New Orleans; St. Louis; Washington, D.C.; Columbus, Cincinnati, and Cleveland, OH; Fort Smith and Little Rock, AR; Lexington and Louisville, KY; Memphis and Knoxville, TN; Miami, Tampa, West Palm Beach, and Fort Lauderdale, FL.; Norfolk and Richmond, VA; Philadelphia and Pittsburgh; and Sacramento, San Diego, San Francisco, and Los Angeles, CA.
Wingstopannounced two development agreements for 14 new restaurants in the Chicago area.
Green Initiatives:
Caribou Coffeesaid today that 100% of its coffees are now sustainably sourced from farms certified by the Rainforest Alliance; to win certification, coffee farms must demonstrate that wildlife and the environment are protected, that workers have decent wages and living conditions, and that workers’ families have access to education, clean water and medical care.
McDonald’sannounced a restaurant in Riverside, CA, has been LEED Gold Certified.