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Buffets Inc. Relaunches As Ovation Brands
Buffets Inc. is marking its 30th anniversary with a name change. The Greer, S.C., company—parent to Country Buffet, Fire Mountain, HomeTown Buffet, Old Country Buffet, Ryan’s and Tahoe Joe’s Famous Steakhouse—has changed its corporate name to Ovation Brands. Ovation CEO Anthony Wedo said the new corporate moniker allows the company to properly showcase a greater…
Roark Capital Group To Acquire CKE Restaurants
Roark Capital Group has entered into a definitive agreement to acquire a majority stake in CKE Inc. Senior management at the parent company of Carl’s Jr. and Hardee’s chains will retain a minority stake. Currently, CKE is majority-owned and controlled by affiliates of Apollo Global Management. Terms of the transaction, expected to close in the…
Flurry Of Acquisitions Round Out Busy Year Of M&A In E&S
The anticipated increase in the capital gains tax at the federal level combined with generational factors, several years of depressed values, and record low-interest rates to prompt a rash of mergers and acquisitions by foodservice equipment and supplies manufacturers and distributors in the last two months of 2012. A tally of the noteworthy deals for…
Global Foodservice Traffic Remains Sluggish Everywhere But China
Only two of the 10 major foodservice markets tracked by The NPD Group saw traffic increases in the fourth quarter of 2012, though check average increases helped six of the 10 post sales gains. Even in China, traffic growth slowed to below 10% for the first quarter in years. Australia, with a one-point gain, was…
Consumer Sentiment Stabilized In Late April, 1Q GDP Comes In Below Expectations
“Consumer confidence was not negatively affected by the Boston Marathon bombing,” said Thomson Reuters/University of Michigan Surveys of Consumers’ Chief Economist Richard Curtin, in releasing final statistics on consumer indicators for April last week. “Although confidence posted significant declines in early April, it began to improve prior to the bombing and gained strength throughout the…
Wholesale Food Prices Jumped 1% In May; Menu Prices Continue To Rise
Maybe the much expected increases in food prices have finally arrived. Overall food prices at the wholesale level jumped 1% in May, according to calculations by the National Restaurant Association, the largest monthly gain since last November and the first gain in three months. The Producer Price Index data, from which the wholesale food price…
Restaurant Unit Numbers Grew 0.5% Over Past Year, Traffic Was Flat, NPD Reports
The total number of restaurants in the U.S. market grew moderately the past year, according to spring data from The NPD’s Group twice-a-year restaurant census, ReCount. The number of total net units grew 0.5%, or an addition of 3,045, to 617,505. The new totals are a revision of previous ReCount totals based on new information.…
Working On Your 2014 Budget? FER’s Complete 2014 E&S Forecast Package, With Update, Can Help
Foodservice Equipment Reports’ entire 2014 forecast package is available for just $1,295. It includes eight PowerPoint decks covering data and analysis of macro-economic, operator and materials-price trends as they impact the foodservice E&S market, as well as exclusive information on E&S manufacturer list-price trends from AutoQuotes Inc. FER‘s annual rankings of the top U.S. E&S…
Global Restaurant Traffic Mostly Lower In 2Q, Reports NPD
Poor weather and continuing economic malaise in Europe pushed the number of restaurant visits lower in the second quarter of 2013 in most of the 10 major foodservice markets tracked by The NPD Group. The numbers plot aggregate visits versus the year-prior quarter. Only Japan, China and Australia recorded traffic gains. Traffic surged 3% in…
Check Those Boxes, It’s Economic Census Time
Multiunit operators, E&S dealers, consultants and service agents are among the nearly four million businesses which have received forms for the 2012 Economic Census, the federal government’s official five-year measure of American business and the economy. Those forms are due next month; by law, businesses must respond by Feb. 12. The responses help guide industry…
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