Following the $100 million sale of 110-unit Bravo Brio Restaurant Group to Spice Private Equity, a Swiss subsidiary of investment firm GP Investments, American restaurateur Bradley D. Blum and the Brazilian-based firm announced the formation of a new restaurant company, FoodFirst Global Restaurants, Inc.
The majority of Iron Chef Jose Garces’ portfolio of restaurants have been sold for $8 million in cash to 3BM1, a company funded by Ballard Brands and Philadelphia-based investor David Maser. Garces will stick on as chief culinary officer.
This past May, Famous Dave’s turned a corner. The Minnetonka, Minnesota-based barbecue brand reported its first quarter of profitability since Q2 of 2016, posting net income of $998,000, or 13 cents per share, compared to net loss of $1.
The IHOb experiment is over. IHOP officially flipped its name back to the traditional moniker Monday (July 9), nearly a month removed from its social-media busting June 11 announcement. IHOP took to Twitter and Facebook again to break the news, saying on Facebook: "We're giving away 60¢ short stacks on July 17 from 7a-7p for IHOP's 60th birthday.
Wine Spectator released its annual Restaurant Award Winners, honoring 3,759 restaurants in all 50 states and more than 75 countries for their industry-leading wine programs. As always, the awards were broken down across three categories: Award of Excellence, Best of Award of Excellence, and Grand Award.
Dream Center Education Holdings, the company operating for-profit Art Institute, will no longer accept new students at 30 campuses nationwide. The News & Observer out of North Carolina first reported the news based on an internal memo that read: “Over the last several months, we have taken a strategic and comprehensive look at each of our three education systems and their respective campuses, evaluating them to be sure that they are meeting the needs of today's learners and providing the best student and graduate outcomes.
The owner of P.F. Chang’s Bistro said now “is an exciting time to explore a sale,” a move that could help the chain deal with debt burden of about $680 million. Centerbridge Partners and the Board of Managers of Wok Parent LLC announced they have retained BofA Merrill Lynch and Barclays to explore a potential sale of the Asian chain, which Centerbridge acquired in 2012 along with fast casual Pei Wei in a deal valued at $1.
Denny’s off-premises growth has contributed significantly to its progress in recent quarters. This past period, which marked the start to fiscal 2018 for the 1,700-unit chain, off-premises sales represented 9.
Much of what has taken place at LongHorn Steakhouse in recent years counteracts the casual-dining playbook of old. Simplify and shrink the menu, but improve loyalty and accelerate same-store sales. Historically those results just don’t co-exist in the same battlefield.
Given Texas Roadhouse’s sizzling sales of late, it’s no surprise to see the 558-unit chain scoring big with guests on this year’s American Customer Satisfaction Index. Texas Roadhouse notched an 83 (out of 100) to lead all full-service brands studied in the annual report.
Red Lobster is getting on the delivery boat. The casual-dinning leader announced Tuesday (June 26) an expanded partnership with DoorDash to bring its food to more than 300 locations across the U.S. and Canada by mid-July.
Chef Massimo Bottura’s Osteria Francescana reclaimed the top spot on The World’s 50 Best Restaurants, an always-anticipated and hotly debated list of the best eateries across the world. In this year’s rankings, six U.
There is no way to flip a red/green card on a take-out order. Brazilian-trained gaucho chefs aren’t available for in-home dinner parties. Yet, at its core, the off-premises movement into full-service is centered on capturing new occasions—guests and dayparts once absent before technology joined the conversation.
If you were expecting The Cheesecake Factory’s long-awaited fast casual to be a counter-service spinoff of the original, think again. On Friday (June 22), it revealed the name and direction of its upcoming concept, planned for the Los Angeles suburb of Thousand Oaks this fall.
Darden’s strong close to fiscal 2018 soared its stock more than 15 percent Thursday to $107.06, its highest point since March 2009. Don’t expect that momentum to slow anytime soon. In fact, Darden said during a June 21 conference call that it plans to open 45–50 new restaurants in 2019—a pretty rare growth boom in today’s casual-dining arena.