May 4, 2011
Paramount’s McGarry Announces Retirement
Stephen McGarry, president of Paramount Restaurant Supply Co., a Warren, R.I.-based foodservice equipment and supplies dealership, has announced his retirement effective in June. McGarry is also president of the Foodservice Equipment Distributors Association and has resigned his post with the organization effective after May 31.
Rubio’s Announces Management Shuffle
Marc Simon was promoted to president and chief executive officer of Rubio’s Restaurants, Inc. Simon replaces Daniel Pittard, who resigned from the president and CEO post. Pittard will remain on Rubio’s board of directors.
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Operator Outlook Brightens
Restaurant operators’ plans for capital spending rose to its highest level in 41 months, according to the National Restaurant Association’s March Restaurant Performance Index. The study showed that 53 percent of restaurant operators plan to make a capital expenditure for equipment, expansion or remodeling in the next six months, up slightly from 52 percent who reported similarly last month.
Chain Operating Report
A handful of restaurant chains made expansion and financial news this past week.
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Vollrath Buys Traex from Libbey
Vollrath Corp., a Sheyboygan, Wis.-based foodservice equipment and supplies manufacturer, has acquired Traex Co. from Libbey Glass Inc. Traex manufactures warewashing systems and plastic products for commercial kitchens.
Big Game Brands buys The Original Italian Pie
Big Game Brands, formerly Raving Brands, purchased The Original Italian Pie, a full-service Italian restaurant franchise. The company also announced aggressive growth plans and named Pat Linch as vice president of operations and brand leader for the concept.
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Luby’s Announces Management Succession
Harris Pappas has resigned his roles and chief operating officer and retired from the day-to-day operations of Luby’s, Inc. Pappas will remain on Luby’s board of directors. As a result, Luby’s has promoted Peter Tropoli to the COO post and and Benjamin Coutee to senior vice president of operations.
PJP gets a new Home
Penn Jersey Paper, a Philadelphia-based foodservice equipment and supplies distributor, is about to get a new home in a LEED Silver Certified building. The 255,336 square foot facility is located 9355 Blue Grass Road, Philadelphia, 19114.