Restaurant Chain Updates
Denny’s, Krispy Kreme, On The Border, Red Robin and Rubio’s are the chains making headlines this week.
Denny's Corporation (Nasdaq: DENN - News) announced that it will begin converting the restaurant operations of up to 140 Flying J Travel Centers to Denny’s units starting in July 2010. This past March, Pilot Travel Centers LLC selected Denny’s as its full-service restaurant provider. On June 30, 2010 the Federal Trade Commission approved the merger of Pilot and Flying J enabling the agreement with Denny’s to proceed. Denny’s expects to convert 80 sites by the end of this year, including 10 locations that will operate as company restaurants. The balance of the conversion opportunities are expected to open as Denny’s in 2011.
Krispy Kreme Doughnut Corporation opened several new locations, including one in each of the following cities: Wake Forest, N.C.; Jeffersontown, Ky.; Albuquerque, N.M.
OTB Acquisition LLC, an affiliate of Golden Gate Capital, completed the acquisition of 162 restaurants of On The Border Mexican Grill & Cantina from Brinker International Inc. Brinker originally agreed to sell On The Border to OTB in March for $180 million.
Red Robin Gourmet Burgers, Inc. announced plans to open a new location on July 19 in Bethel Park, Pa.
Rubio’s Fresh Mexican Grille announced plans to open a pair of locations, one in each of the California cities of Fairfield and Santa Ana.