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Katie Lee

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

by Katie Lee

Dallas — Fogo de Chão, the internationally renowned restaurant brand from Brazil, has entered into a definitive agreement to be acquired by Bain Capital Private Equity to accelerate its growth and expansion. Fogo will continue to operate under its current management team, led by CEO Barry McGowan. Funds affiliated with Rhône Capital (together with certain of their affiliates) have owned Fogo since taking the company private in 2018. Financial terms of the private purchase were not disclosed. Founded in Southern Brazil in 1979, Fogo elevates the centuries-old cooking technique of …

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Newsroofingvendors

Pegnato Roof Intelligence Network Named One of 100 Best Places to Work in L.A.

by Katie Lee

Marina Del Rey, Calif. — Pegnato Roof Intelligence Network (PRIN™) has been included in the Small Employer Category of the Los Angeles Business Journal 2023 list, Best Places to Work in Los Angeles. The program evaluated each nominated company’s benefits, policies, practices and demographics, and also relied heavily on employee surveys to measure their experience. “PRIN began as a family business, and we strive to make all of our employees feel like members of the Pegnato family,” says Alex Pegnato, president and COO of Pegnato. “We are delighted at this …

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Newsretailers

Aldi to Acquire Winn-Dixie, Harveys Supermarket from Southeastern Grocers

by Katie Lee

Batavia, Ill. and Jacksonville, Fla. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville, Fla.-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the …

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construction and designCover StoryFrom The Magazinerestaurants

Better Together

by Katie Lee

— By Kristen Hartman — Co-branding the future of QSR — dos and don’ts. The concept of co-branding has resurfaced again as a way for brands to maximize their product and capitalize on the variety of opportunities it allows. The idea is exactly as it sounds: multiple brands partner with each other under one roof to provide a wider variety of products that are complementary to one another. This creates excitement and interest among consumers while allowing the brands to see savings on rent and other costs, all while streamlining …

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Industry Voicesrestaurantsvendors

Protect Your Profits

by Katie Lee

— By George Lessmeister — 5 tips to protect profit by controlling cost. In this period of high inflation, restaurant owners may feel pressure to raise prices to keep up with soaring costs. But this approach can backfire if not done carefully, and customers may go elsewhere with their already-stretched dollars if restaurant prices go too high. Being smart with expenses, especially labor costs, can help restaurants successfully compete in this challenging climate. What Do the Numbers Say? The Consumer Price Index released in early January showed prices actually decreased …

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Newspeoplerestaurants

Panera Brands Appoints New Chief Financial Officer

by Katie Lee

St. Louis — Panera Brands Inc., which includes the fast-casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Brands, has appointed long-time industry executive Paul Carbone as chief financial officer, effective August 15, 2023. He brings decades of operational, IPO and public company experience. “I am excited for Paul to join the team as we continue to focus on long term value-creation for Panera Brands,” says José Alberto Dueñas, CEO of Panera Brands and Panera Bread. “Paul’s depth of knowledge and history of success across …

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Newspeopleretailers

Destination XL Group, Inc. Extends Contract with President and CEO Until August 2026

by Katie Lee

Canton, Mass. — The board of directors of Destination XL Group, Inc., the leading integrated commerce specialty retailer of Big + Tall men’s clothing and shoes in the United States, has entered into an amended employment agreement with Harvey S. Kanter to extend the term of his role as president and chief executive officer. He has served as president & CEO and as a member of its board since April 1, 2019. “We are extremely pleased that Harvey has agreed to continue to lead our company into at least mid-August …

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construction and designkitchen equipmentNewsremodelsrestaurantssoftware/technology

Wendy’s Builds Upon Global Next Gen Design with New High-Capacity Kitchen

by Katie Lee

Dublin, Ohio — The Wendy’s Company is opening its first Global Next Gen restaurants, while also finalizing a new Global Next Gen High-Capacity Kitchen design option for the highest customer demand. Both digital-first designs were created to enhance customer, crew and franchisee experiences, accelerating growth across Wendy’s® global restaurant footprint. Since unveiling the Global Next Gen restaurant design standard less than 1 year ago, the first Wendy’s Global Next Gen restaurants are now open in Kansas and Oklahoma, with more than 200 Global Next Gen restaurants slated to open through …

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Newspeopleretailers

Valvoline’s President of Retail Services Promoted to CEO

by Katie Lee

Lexington, Ky. — Valvoline Inc., a leader in preventive automotive maintenance delivering quick and convenient service, has announced that Sam Mitchell is retiring as chief executive officer and a member of the board of directors, effective September 30, 2023. Mitchell will be succeeded by Lori Flees, current president of retail services, as the company’s CEO. Flees will also join Valvoline’s board. “On behalf of the board, I want to thank Sam for his leadership of Valvoline for the last 21 years,” says Rich Freeland, chairman of the Valvoline board. “During …

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franchise developmentNewspeoplerestaurants

Paul Brodeur Returns to Jersey Mike’s as VP of Franchise Sales

by Katie Lee

Manasquan, N.J. — Jersey Mike’s Subs has added Paul Brodeur as vice president of franchise sales. Brodeur’s long history with Jersey Mikes began at age 14 when he worked in the original location in Point Pleasant Beach, N.J. He also was the company’ s first area director. “Paul brings to the sales team a deep understanding of the brand’s history and culture,” says Brian Sommers, chief development officer, Jersey Mike’s Franchise Systems, Inc. “His 30 years of sales experience will help elevate our high-performing sales team to the next level, …

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