Delight Restaurant Group Acquires 65 Wendy's Restaurants From Primary Aim, LLC

Delight Restaurant Group announced today the acquisition of 65 Wendy's® restaurants across Pennsylvania, Ohio, and West Virginia from Primary Aim, LLC. This acquisition makes Delight Restaurant Group one of the largest franchisees within the Wendy's System.

Delight Restaurant Group is a high performing and growth-oriented restaurant franchise organization founded by Managing Partners Andrew and Richard Krumholz in 2016. With this acquisition, Delight Restaurant Group will own and operate 226 restaurants, generating $500 million in sales, and employing 7,000 people in eight states. Delight Restaurant Group plans...

Sheer Logistics Acquires CargoBarn

Sheer Logistics, a premier provider of 4PL/Managed Transportation Services, value-based logistics, freight brokerage, TMS technology and Integration Platform as a Service (IPaaS) solutions purpose-built for mid-market companies, today announced the acquisition of CargoBarn, a tech-enabled third-party logistics provider (3PL) based in Atlanta, GA. CargoBarn provides full Truckload freight brokerage, expedited, drayage, and other specialized services. The acquisition will enhance Sheer's existing 3PL and freight brokerage offerings through the addition of CargoBarn's diverse and complementary customer portfolio, extensive carrier network, highly experienced sales and operations teams, and geographic footprint...

Astral Foods Sells Minority Interest in Quantum Foods

South Africa's largest integrated poultry producer, Astral Foods, has sold its 9.8% interest in Quantum Foods to Country Bird Holdings (CBH) for ZAR 141.7 million (approximately $7.6 million), effective from 5 March.

Chris Schutte, CEO of Astral, expressed that the unsolicited offer from CBH was welcome, as it was never intended to be a long-term investment.

He also stated in the same announcement: “At the time Astral acquired the 9.8% equity stake in Quantum during June 2020, there were unmitigated risks the...

Cal-Maine Foods, Inc. Completes Acquisition of Assets from Tyson Foods, Inc

Cal-Maine Foods, Inc., the largest producer and distributor of fresh shell eggs in the United States, today announced it has completed the previously announced acquisition of a broiler processing plant, hatchery and feed mill in Dexter, Missouri, that were closed by Tyson Foods, Inc. (NYSE: TSN) (“Tyson”) in 2023. The Company plans to remodel and repurpose the assets for use in shell egg and egg products production.

Sherman Miller, president and chief executive officer of Cal-Maine Foods, Inc...

Navis Food Partners Announces Partnership with Prime Source Foods

Prime Source Foods, a center-of-the-plate distributor based in Londonderry, NH, announced today that it joined Navis Food Partners, a partnership of independent foodservice distributors in the Northeast. Prime Source Foods is a large independently owned, center-of-the-plate food distributor in New England and eastern New York.

The acquisition of Prime Source Foods strengthens Navis Food Partners’ presence in the protein category as well as its geographic service footprint in New England. Together with City Line Distributors, Navis Food Partners now covers northern...

Campbell Completes Acquisition of Sovos Brands, Inc.

Campbell Soup Company today announced it has completed the acquisition of Sovos Brands, Inc. (“Sovos Brands”) for $23 per share in an all-cash transaction, which represents a total enterprise value of approximately $2.7 billion.

“This important milestone in Campbell’s history adds several market-leading and scaled premium brands to our company,” said Campbell’s President and CEO Mark Clouse. “It accelerates Campbell’s successful strategy and provides a substantial runway for sustained profitable growth. An enhanced Meals & Beverages division paired with our differentiated...

Sugar Foods Acquires Concord Foods

Sugar Foods (“Sugar Foods” or “the Company”), a food company serving prominent foodservice, grocery, retail and restaurant brands, today announced the acquisition of Concord Foods (“Concord”). With the strategic acquisition of Concord’s complementary resources, capabilities and expertise, Sugar Foods will be positioned to deliver enhanced innovations and an expanded suite of services to its customers. Terms of the acquisition were not disclosed.

Founded in 1968, Concord Foods is a leading supplier of custom ingredients and retail food products, serving nationally recognized supermarkets, food service operators and food manufacturers...

Kroger Responds After FTC Decision to Block Albertsons Merger 

On Monday news broke that the Federal trade Commission (FTC) would be challenging Kroger’s acquisition of Albertsons. The FTC said that the potential merger would “eliminate competition and raise grocery prices for millions of Americans, while harming tens of thousands of workers.” Now, Kroger has responded.

“Kroger’s business model is to take costs out of the business and invest in lowering prices for customers,” the company stated. “Kroger has reduced prices every year since 2003, resulting in $5 billion invested to lower prices and a 5% reduction in gross...

Kinzie Capital Partners Announces the Acquisition of Arctic Industries

Kinzie Capital Partners LP (“Kinzie”), a Chicago-based private equity firm, announces the acquisition of Arctic Industries (“Arctic” or the “Company”), a national manufacturer and distributor of temperature control and cold storage solutions. The transaction, completed in partnership with Arctic’s management, marks an exciting new chapter for the Company as it sets the stage for further market expansion throughout the country.

Founded in 1981, Arctic operates through two business groups, Arctic’s walk-in group serving the foodservice and industrial markets with custom designed walk-in coolers and freezers and Store...

US Foods Reports Fourth Quarter and Fiscal Year 2023 Earnings

US Foods Holding Corp., one of the largest foodservice distributors in the United States, today announced results for the fourth quarter and full fiscal year 2023.

Fourth Quarter Fiscal 2023 Highlights

• Net sales increased 4.9% to $8.9 billion
• Total case volume increased 5.6%; independent restaurant case volume increased 7.3%
• Gross profit increased 9.4% to $1.6 billion
• Net income available to common shareholders was $147 million
• Adjusted EBITDA increased 10.9% to $388 million
• Diluted EPS increased 59.5% to $0.59; Adjusted...

Publix Vice President to Retire; New Vice President Announced

After 45 years of dedicated service, Publix Vice President of Customer Experience Bob Bechtel announced his decision to retire March 31.

“Bob has spent his career focusing on customer service,” said Publix CEO Kevin Murphy. “Through his leadership and efforts, he has helped our associates provide a premier shopping environment that has exceeded our customers’ expectations and helped create raving fans at Publix. We thank Bob for his many years of service to Publix and wish him the best in his retirement.”...

Foodie Card Acquires The Forking Group Agency

Foodie Card, Inc. is excited to announce the acquisition of The Forking Group Agency, a New York-based media agency founded by Genna Apfel in 2020. Foodie Card has been offering marketing services to restaurants since its inception in 2018 and acquired The Forking Group in July 2023. This acquisition reinforces Foodie Card's founding mission to support independent restaurant businesses in the Tri-State Area and beyond.

"We are thrilled to introduce this expansion of our organization as we continue to demonstrate our commitment to innovation on behalf of the independent restaurant community...

GS Foods Group Acquires Diamond Foods – Expanding Operations in Louisiana

GS Foods Group, Inc. (“GS Foods”), a world-class foodservice partner owned by affiliates of Highview Capital, LLC (“Highview”) and A&M Capital Partners (“AMCP”), today announced its acquisition of Diamond Foods, a regional K-12 food distributor based in New Orleans, Louisiana.

A leader in food service distribution and product solutions, GS Foods has nearly 50 years of experience meeting the unique needs of its customers nationwide. By integrating Diamond Foods into their operations in Louisiana, GS Foods builds on its recent acquisition of Lamm Foods...

Greater Omaha Packing Acquires Nebraska Meat and Bone Meal Company Heartland Proteins

US beef supplier Greater Omaha Packing has acquired Heartland Proteins, a purchaser and distributor of meat and bone meal for the feed industry.

Established by Keith Fulton, Heartland Proteins began operations in 2018. Its blending plant in Omaha, Nebraska became operational in January 2020. Its main supplier is Progressive Protein, the wholly owned rendering operation of Greater Omaha Packing.

According to Greater Omaha Packing, the acquisition will significantly expands its capabilities and allow the company to better serve a broader customer base for bovine-originated products...

Brakebush Brothers,Inc. Acquires Lake Foods to Expand its Processing Capabilities

Foodservice chicken processor Brakebush Brothers, Inc., has announced the acquisition of Lake Foods of Hartwell, GA, a portioning facility for raw, sized, marinated and ready-to-cook chicken products. The agreement was finalized on December 31, 2023.

Both companies share a solid history of business success, dedicated employees with acommitment to quality, and a focus on customer service. “We are very enthusiastic about thisacquisition. The values, expertise, and capabilities of this facility put us in great position to continue to grow our existing customer base and aggressively pursue...

TGI Fridays® Announces Sale of Select Restaurants in the Northeast to Longtime Stakeholder 

TGI Fridays® today announced the sale of eight previously corporate-owned restaurants in the Northeast to former CEO Ray Blanchette.

With a history of deep involvement and unwavering confidence in the Fridays brand, Mr. Blanchette brings an unmatched understanding of the TGI Fridays business and the restaurant's commitment to delivering excellence for guests. Following the finalization of the sale, Blanchette will lead the locations into a new phase of revitalization.

As TGI Fridays continues executing an era of transformation, the transition is poised to deliver...

Teamsters Call on FTC to Reject Korger-Albertsons Propsed Asset Sales to C&S

The International Brotherhood of Teamsters strongly opposes the sale of any assets of Kroger [NYSE: KR] or Albertsons [NYSE: ACI] to C&S Wholesale Grocers as proposed in the companies' September 2023 divestiture plan submitted to the Federal Trade Commission (FTC). The Teamsters, representing more than 22,000 members at Kroger and Albertsons nationwide, urge the FTC to reject C&S as a buyer.

"Kroger and Albertsons management has told everyone and anyone that no union members will lose their jobs, contracts, or hours if this...

QDOBA Completes Whole Business Securitization, Providing Additional Liquidity to Supercharge Growth

QDOBA Restaurant Corporation (“QDOBA”), the leading fast-casual Mexican restaurant franchisor and portfolio company of Butterfly Equity (“Butterfly”), today announced the closing of its inaugural $305 million whole business securitization through Qdoba Funding LLC.

The transaction optimizes QDOBA’s capital structure for ongoing growth and provides meaningful interest expense savings. Proceeds from the transaction will be used primarily to refinance QDOBA’s existing senior debt facilities and provide liquidity to invest meaningfully in general corporate initiatives, such as remodeling more than 80 corporate restaurants and adding digital menu boards to... 

McDonald's to Acquire Carlyle's Stake in McDonald's China

McDonald's Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) today announced that McDonald's has agreed to acquire Carlyle's minority ownership stake in the strategic partnership that operates and manages McDonald's business in mainland China, Hong Kong and Macau.

The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald's will remain a minority partner while increasing its stake from 20% to 48% ownership... 

Wonder Announces Closing of Blue Apron Acquisition to Enhance its Leading Platform for Mealtime

Wonder Group, a company founded by entrepreneur Marc Lore that is redefining at-home dining and food delivery, today will close its previously announced acquisition of Blue Apron (Nasdaq: APRN), the pioneer of the meal kit industry in the United States.

The acquisition will further enhance Wonder’s creation of the super app for mealtime, serving a broad range of dining occasions that feature cuisines from some of the world’s best chefs and restaurants.

Having pioneered a new category of “Fast Fine” dining through its collection of...

Authentic Restaurant Brands Completes Acquisition of Fiesta Restaurant Group

Authentic Restaurant Brands (“ARB”), a portfolio company of Garnett Station Partners, LLC (“Garnett Station” or “GSP”), a New York-based principal investment firm, today announced the completion of its previously announced acquisition of Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ: FRGI), parent company of the Pollo Tropical® restaurant brand.

“Our distinct vision for Pollo Tropical is to amplify the fundamental aspects of the brand that customers love and expand its capabilities to deliver high-quality, affordable food in a casual setting,” said Alex Macedo, Chairman of Authentic Restaurant...

Cal-Maine Foods, Inc. to Acquire Egg Production Assets of Fassio Egg Farms, Inc.

Cal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods” or the “Company”), the largest producer and distributor of fresh shell eggs in the United States, today announced a definitive agreement to acquire substantially all the assets of Fassio Egg Farms, Inc. (“Fassio”), related to its commercial shell egg production and processing business. The assets to be acquired, subject to the completion of this transaction, include commercial shell egg production and processing facilities with current capacity of approximately 1.2 million laying hens, primarily cage-free, feed mill...

Eataly Appoints New CEO North America

Eataly (‘the Group’), the international Italian restaurant and retail group, today announces the appointment of Tommaso Brusò as the new CEO of North America with effect from 2 October 2023.

Tommaso Brusò joins from Colourful Standard (part of RTG Group), the sustainable essentials clothing brand, where he was Group CEO. He was previously global COO for Benetton Group, where he spent a significant period of time in the US. Prior to that, he was CEO of Diesel North America from 2013-2017, CEO of Furla Americas from 2008-2013...

FAT Brands Announces Acquisition of Smokey Bones Barbecue Chain

FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announces it has acquired the Smokey Bones Bar & Fire Grill restaurant chain from an affiliate of Sun Capital Partners, Inc. The acquisition marks the Company’s first foray into barbecue and expands FAT Brands’ portfolio of polished dining chains, which currently includes Twin Peaks. The purchase is expected to increase annual adjusted EBITDA by approximately $10 million, and bring 61 new corporate locations under FAT Brands’ umbrella. The $30 million transaction was funded from the Company’s...

Minerva Foods' Acquisition of Marfrig's Plants to Expand its Capacity by About 44%

Minerva Food’s acquisition of most of Marfrig’s cattle slaughtering and deboning plants in South America will expand its capacity by about 44%, according to the company. Prior to the $1.54 billion deal, which was announced Monday, Minerva Foods could process 29,540 head of cattle per day. 

After Brazilian meatpacker Marfrig sold 16 of its slaughtering plants to its rival Minerva, Minerva's cattle slaughtering and deboning capacity swelled to 42,439 head per day. This will result in an excess of Brazilian real (BRL) 50 billion to the company's current...

ALDI to Acquire Winn-Dixie and Harveys Supermarket to Continue Growth in the Southeast

ALDI today announced it has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Southeastern Grocers to various entities. The acquisition continues the growth of ALDI, expanding its ability to serve the region with great products at the lowest possible prices.

"Like ALDI, Winn-Dixie and Harveys Supermarket have long histories and many loyal customers in the Southeast and we look forward to serving them in the years to come," said Jason Hart, CEO, ALDI. "The...

Fogo de Chão to be Acquired by Bain Capital Private Equity from Rhône Capital

Fogo de Chão (“Fogo”), the internationally renowned restaurant brand from Brazil, today announced that it has entered into a definitive agreement to be acquired by Bain Capital Private Equity (“Bain Capital”) to accelerate its growth and expansion. Fogo will continue to operate under its current management team, led by Chief Executive Officer Barry McGowan. Funds affiliated with Rhône Capital (together with certain of their affiliates, “Rhône”) have owned Fogo since taking the company private in 2018. Financial terms of the private purchase were not disclosed...

Mars Completes Acquisition of Nutritious Meal Company Kevin’s Natural Foods

Today Mars, Incorporated, a family-owned, global leader in confectionery, food, and pet care products and services, announced the successful completion of its acquisition of Kevin’s Natural Foods, a high-growth, nutritious meal company. Kevin’s Natural Foods joins the Mars Food & Nutrition segment, complementing its portfolio of leading food brands and recent product innovations. Kevin’s will play a key role in Mars Food & Nutrition’s ongoing journey to enable delicious, healthier eating to be part of consumers’ daily lives, while Mars will help Kevin’s to continue to grow...

BAADER Acquires Majority Stake in Food Processing Software Company

Food processing machinery giant BAADER has acquired a majority stake in EMYDEX Technology, a company involved in software solutions in the same sector.

Specifically, EMYDEX creates scalable Manufacturing Execution System (MES) software for the food processing sector.

“Combining the strengths of both companies will mean enhanced digital capabilities for BAADER and accelerated growth and market reach for EMYDEX,” BAADER said in a press release.

Petra Baader, CEO of BAADER Global SE, expressed her delight at the successful acquisition, stating, "This significant step promises to enhance our portfolio offerings...

National Convenience Distributors Announces Acquisition of Colonial Wholesale Distributing, Inc.

National Convenience Distributors (“NCD”), the 4th largest wholesale distributor to the convenience industry, today announced the acquisition of Colonial Wholesale Distributing, Inc., one of the Southeast region's largest full-line wholesale distributors to the convenience and grocery store industries. Financial terms were not disclosed.

Colonial Distributing, founded in 1998 and located in Tampa, Florida, will join NCD as a newly created division and expand NCD’s geographical reach along the east coast from Maine to Florida. National Convenience Distributors now services thirteen (13) states...

Imperial Dade Acquires Atlantis Packaging, Adds Scale in Southern California

Imperial Dade, a leading distributor of foodservice packaging supplies and janitorial supplies, today announced the acquisition of Atlantis Packaging (“Atlantis” or the “Company”). The transaction represents the 67th acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, Chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.

Owned and operated by Eric Rodriguez, Atlantis Packaging is a premier distributor of industrial products throughout Southern California and the United States. Eric’s father founded the business over 50-years ago and the Company...

MamaMancini’s Acquires Remaining Interest in Chef Inspirational Foods

MamaMancini's Holdings, Inc., a leading national marketer and manufacturer of fresh Deli prepared foods, today announced that it has purchased the remaining 76% interest in Chef Inspirational Foods, Inc. (“CIF”), a deli prepared food sales agent, following up on the June 2022 acquisition of a 24% minority interest in CIF.

The remaining 76% interest in CIF was purchased for $3.65 million at an implied enterprise value of $4.8 million. $2.15 million of the purchase price is payable in cash in two tranches, one due immediately...

Sysco-owned FreshPoint Acquires BIX Produce

Sysco’s specialty produce company FreshPoint has acquired fellow produce firm BIX Produce.

BIX serves as a produce specialty and fresh-cut distributor based in Minnesota. The company was founded in 1930 and boasts a broad range of restaurant and other foodservice customers in Minnesota, Wisconsin, the Dakotas, Illinois and Iowa.

FreshPoint will retain all BIX Produce colleagues and the current management team will remain in place.

Sysco noted that the acquisition provides a strategic opportunity for FreshPoint to:

- Expand its geographic footprint in an area of the country where it does not currently...

Vertical Cold Storage Closes MWCold Acquisition

Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, finalized the purchase of MWCold, operator of two strategically located temperature-controlled warehouse facilities in central Indiana. Terms of the deal were not disclosed.

“We are excited to welcome the MWCold team to Vertical Cold and provide them with the opportunity to continue to grow personally and professionally as we serve our customers by embracing the unique complexities of the temperature-controlled supply chain. We are a team of cold storage veterans focused on...

Darden Restaurants Completes Acquisition of Ruth's Hospitality Group

Darden Restaurants, Inc., announced today that it has completed its acquisition of Ruth's Hospitality Group, Inc. ("Ruth's"). The Ruth's Chris Steak House brand now joins and complements Darden's portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's and Bahama Breeze.

Ruth's Chris features signature USDA Prime steaks served sizzling on 500-degree plates, New Orleans-inspired sides and an award-winning wine list. Ruth's Chris has 155 locations around the globe, including 81 company-owned or company-operated restaurants...

Ben E. Keith Foods Announces Acquisition of Orrell's Food Service

Ben E. Keith Foods proudly announces the purchase of Orrell's Food Service, Inc. The acquisition, includes all assets of Orrell's Food Service - - including the 106,000 square foot distribution center in Linwood, NC, as well as JEM Foods, Inc., a meat processing plant, also located in Linwood. This acquisition will create the tenth division of Ben E. Keith Foods across 19 states.

"The acquisition of Orrell's allows Ben E. Keith Foods to continue its expansion into North Carolina, serve new and existing customers, and provide additional opportunity for our employees...

STX Beef Co. Announces Purchase of Missouri Prime Beef Packers, LLC

Today, STX Beef Company, LLC (STX) announced the purchase of Missouri Prime Beef Packers. STX will take over operatorship immediately.

Missouri Prime Beef Packers is located approximately 20 miles north of Springfield in Pleasant Hope, Missouri. The plant, which sits on 256 acres, currently processes approximately 750 head of cattle per day in its 88,000 square foot facility.

"STX prides itself on taking care of our customers while offering customized solutions, and developing long-lasting commercial relationships," Terry Maul, STX Beef Company CEO said. "Missouri is...

Darden Restaurants Acquires Ruth's Hospitality Group for Over $700 Million

Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, has entered into a merger agreement with Ruth’s Hospitality Group.

The deal will see Darden acquire all the outstanding shares of Ruth’s for $21.50 per share in a fully-cash transaction with an equity value of approximately $715 million.

Darden said Ruth’s Hospitality Group, which owns and operates Ruth’s Chris Steak House, “will complement Darden's portfolio of differentiated brands which currently includes Olive Garden, LongHorn Steakhouse, Yard House...