Ric Smith, a restaurant industry veteran with a development-oriented track record, was hired as sr. vice president of development for Scooter’s Coffee.
One of the great things about the foodservice industry is the way it continues to draw entrepreneurs. That is because the foodservice industry still has a place for someone with a vision and passion to pursue it. Such is the case with Daniel Shemtob, founder and executive chef for Born From The Lime Truck.
Red Lobster named Kelli Valade the restaurant chain’s next CEO. Valade will take on her new role on August 2, succeeding Kim Lopdrup, who plans to retire after leading the seafood restaurant chain for 14 years.
SEFA, a dealer-based foodservice equipment and supplies buying group, recognized the contributions of some of its member companies and suppliers through a series of annual awards. Specifically, SEFA named Breckenridge Kitchen Equipment & Design its member company of the year and Groen, a Unified Brands company, its supplier of the year.
John “Jack” Sparacio passed away on June 21, 2021, in Carlsbad, Calif., following a long illness. The 78-year-old Sparacio had previously served as president of Lang Manufacturing, a Washington-based foodservice equipment manufacturer.
Innovative Foodservice Group hired Brad Carr to serve as a senior project manager for the Florida-based foodservice equipment and supplies dealer.
In a deal valued at $442.5 million, multiconcept operator FAT Brands will acquire Global Franchise Group, which franchises and operates a portfolio of five quick-service restaurant concepts, including Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery and Pretzelmaker, from Serruya Private Equity and Lion Capital.
Private equity firm Luminate Capital Partners has sold AutoQuotes to TA Associates. As part of this deal, AutoQuotes will become part of Revalize, a cloud-based software platform for manufacturers, per a release announcing the deal. Jim Contardi will serve as CEO of Revalize.
The National Association of College & University Food Services (NACUFS) presented its 2020 Loyal E. Horton Dining Awards to member institutions across six different categories.
Alto-Shaam promoted Bill Rodgers to director of regional key accounts for the Wisconsin-based foodservice equipment manufacturer.
Red Lobster is casting its net with the hope of snagging a new CEO. That is because casual dining chain’s current CEO, Kim Lopdrup, has announced his plans to retire. Lopdrup intends to remain in his role until Red Lobster names a successor.
PT Holdings, the parent company of foodservice equipment parts distributor Parts Town, has acquired General Parts, a Bloomington, Minn.-based service agent, from Encore One. Financial aspects of the deal were not disclosed.
Another day, another restaurant acquisition. This time it was multiconcept operator SPB Hospitality adding J. Alexander’s to its portfolio of restaurant concepts that includes other steakhouses as well as pizza and craft brewery restaurants. SPB will pay $220 million, a 14% premium over J. Alexander’s closing price on July 1, 2021, which was the last trading day prior to the merger agreement, per a release announcing the deal. SPB expects this sale to close in the fourth quarter of 2021.
Multiconcept operator BBQ Holdings reached an agreement to acquire restaurant chains Village Inn and Bakers Square from VIBSQ. The deal is expected to close by the end of July.