Blimpie, CKE, Mama Fu's, Pei Wei Asian Diner and Saladworks moved forward with expansion plans this past week, while the back and forth between McCormick & Schmick's and Landry's Restaurants Inc. CEO Tilman Fertitta continued to evolve.
Blimpie opened a pair of franchised locations in Long Island, N.Y.
CKE Restaurants opened its first Carl's Jr.® restaurant in Panama, located at the Tocumen Panama International Airport in Panama City.
McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) announced that its Board of Directors, after careful consideration with the assistance of its independent financial and legal advisors, has unanimously rejected the unsolicited tender offer from LSRI Holdings, Inc., a wholly-owned subsidiary of Landry's Restaurants, Inc., to acquire all outstanding common stock of McCormick & Schmick's not already owned by it or its affiliates at a price of $9.25 per share in cash. The board unanimously recommends that McCormick & Schmick's stockholders reject the LSRI Holdings offer and not tender their shares into the offer, which the Board believes undervalues the Company's current business and future prospects. Fertitta announced that he is extending this offer through May 31. The offer was previously set to expire on May 6,
Mama Fu's, a fast-casual Asian concept, signed an area development agreement for six restaurants in New Mexico and El Paso, Texas. The multi-unit deal was signed with Mama's Alamo, LLC. The San Antonio-based restaurant development group that has more than 70 units across seven states including such brands as Buffalo Wild Wings, Smashburger and Little Caesars, among others.
Pei Wei Asian Diner, the fast-casual restaurant concept by P.F. Chang's China Bistro (NASDAQ: PFCB), opened its first Indiana location in Indianapolis.
Saladworks, a fresh-tossed salad franchise concept, announced plans to open a location in Washington Township, NJ.
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