Shares of Bloomin’ Brands skyrocketed more than 12 percent Monday afternoon when activist hedge fund Jana Partners announced an 8.7 percent stake in the casual dining company. Notably, the fund revealed in a securities filling under “Purpose of Transaction” that, with the assistance of the other reporting persons, it intends to have discussions with Bloomin’s board of directors and management regarding topics, including “a review of strategic alternatives including exploring a sale” of the company.
Claiming that the deal “significantly undervalues” Ruby Tuesday, a proposed class of Ruby Tuesday Inc. shareholders filed suit against the company and its impending sale in Tennessee federal court last week.
Hurricane Grill & Wings, a 60-plus-unit chicken-wing chain founded in 1995, has entered into a definitive agreement to be sold to FAT Brands Inc. for $12.5 million. The company, which stands for Fresh.
Buffalo Wild Wings’ new website is off to a bullish start. The company announced Wednesday that the site, which rolled out in October, has already boosted website transactions by 20 percent. It was designed to make it easier for guests to see, find, and order menu items, on both mobile and desktop devices.
“We once again have clarity on who we are and what we stand for.”Those were the words of John Cywinski, Applebee’s president, during a recent conference call. Trying to dissect what’s wrong with America’s largest casual dining chain can feel like a town hall full of dissenters sometimes.
Beekman Investment Partners III, LP, a leading private equity firm based in New York, announced that an affiliate has made a majority investment in Another Broken Egg of America, LLC, a premier “better breakfast” restaurant brand.
Private-equity firm Roark Capital Group has made a takeover bid valued at more than $2.3 billion for Buffalo Wild Wings, The Wall Street Journal is reporting.People familiar with the matter told The WSJ that Roark offered more than $150 a share in recent weeks.
News that Buffalo Wild Wings could be dealt to Roark Capital Group for some $2.3 billion shook up the stock market on Monday afternoon. But what would it mean exactly for the classic chain, not to mention the restaurant industry as a whole?Jim Badum, executive vice president of client partnerships at Ansira, the second largest independent CRM firm in the U.
The American restaurant industry, long shrouded by economic rain clouds, saw glimmers of sunshine break through the gloom in October.On Thursday, TDn2K released its latest Restaurant Industry Snapshot, a weathervane for the food business that aggregates weekly sales from 30,000 restaurants.
Bloomin’ Brands confirmed to the Tampa Bay Business Journal that it laid off 55 employees on Wednesday. The casual dining parent, which operates Outback Steakhouse, Bonefish Grill, Fleming’s Prime Steakhouse, and Carrabba’s Italian Grill, told the publication the layoffs affected different levels of the company, and that Bloomin’ planned to support the employees in their transition with severance packages.
Shares of DineEquity soared early Thursday following its third-quarter earnings, perhaps injecting some much-needed optimism into one of America’s iconic casual dining leaders.The parent company of Applebee’s and IHOP saw its stock rise as much 10 percent to start the day.
US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the third quarter and first nine months of fiscal 2017.Third Quarter HighlightsTotal case volume increased 2.
Red Robin will hit pause on its growth come 2018, halting future openings and turning its focus inward for 18–24 months, CEO Denny Marie Post said late Monday afternoon. Along with disappointing metrics that underwhelmed Wall Street, the news sent shares of the casual dining brand plummeting after hours.
Although 220 Denny’s restaurants were impacted by Hurricane Harvey, Irma, and Maria in Texas, Florida, Georgia, South Carolina, and Puerto Rico, the chain still posted positive sales gains for the third quarter.
Ruth’s Hospitality Group, Inc. reported unaudited financial results for its third quarter ended September 24.Highlights for the third quarter of 2017 were as follows:The company reported net income of $1.