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FAT Brands Inc. to Acquire Fazoli’s Restaurant Chain for $130 Million

by Katie Lee

Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc. has agreed to acquire Fazoli’s for $130 million from funds under management by Sentinel Capital Partners. This acquisition brings to FAT Brands the largest premium QSR Italian chain in the U.S., and will be funded with cash from the issuance of new notes from the company’s securitization facilities. The transaction is expected to close by mid-December 2021. The planned acquisition of Fazoli’s further speaks to FAT Brands’ recent diversification of its restaurant portfolio, making a foray into the Italian quick-service dining …

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construction and designNewspeoplevendors

IMPACT Strategies Adds Market Development Manager

by Katie Lee

Fairview Heights, Ill. — Cole Loftus joins the team at IMPACT Strategies in the newly created position of market development manager. In his new role, Loftus will continue in IMPACT’s core purpose of developing industry relationships by identifying, qualifying and developing project pursuit opportunities across the firm’s multiple markets which include Missouri, Illinois and Ohio/Northern Kentucky. “The addition of Cole to our team will help us continue to grow as a company, while still providing excellence in construction to our clients,” says Nick Walker, vice president, project development and strategy …

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franchise developmentNewsrestaurants

Muscle Maker Signs 40-Unit International Franchise Deal

by Katie Lee

League City, Texas — Muscle Maker Inc., the parent company of Muscle Maker Grill, Pokemoto and SuperFit Foods, has inked a Master Franchise Agreement for 40 units in the Kingdom of Saudi Arabia, solidifying the company’s second multi-unit international deal. The newly signed 40-unit agreement will grow the company’s international footprint by 400%. Muscle Maker Grill previously signed a 10-unit deal in Kuwait. Muscle Makers’ current Kuwaiti international franchise partners Abrar Kadhem Almatrouk, Abdullah Kadhem Almatrouk, Yousef Kadhem Almatrouk and Essa Kadhem Almatrouk will expand the brand across Saudi Arabia …

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construction and designfranchise developmentNewsrestaurants

Shipley Do-Nuts Breaks Ground on New Headquarters

by Katie Lee

Houston — Shipley Do-Nuts, the iconic Houston-born do-nut shop brand, celebrated its 85th anniversary with a groundbreaking on Oct. 28 for its new 60,000-square-foot corporate headquarters at Cullen and Gulf Freeway in Houston. The site is well-known to Houstonians as the location of the old Finger Furniture flagship showroom and, before that, Buff Stadium, home to minor league baseball’s Houston Buffalos from 1928-1961. The state-of-the-art facility, slated to open in the last quarter of 2022, will feature a full working flagship Shipley Do-Nut shop with an interior drive-thru going right …

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Newspeopleretailers

Boot Barn Appoints New Chief Financial Officer

by Katie Lee

Irvine, Calif. — Boot Barn Holdings, Inc. has appointed a new chief financial officer, Jim Watkins, effective November 1, 2021. Watkins has worked at Boot Barn in a variety of roles since October 2014, most recently as the company’s senior vice president, finance and investor relations. Prior to joining Boot Barn, Watkins was the vice president, corporate controller and principal accounting officer of Mindspeed Technologies, a publicly traded semiconductor company. Greg Hackman will continue as Boot Barn’s executive vice president and chief operating officer. Hackman joined Boot Barn in 2015 …

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construction and designNewsrestaurants

Grinders Coffee Bar Teams Up with Harrison to Rebrand and Reopen as New Concept: Wild

by Katie Lee

Houston — Grinders Coffee Bar and CBD Apothecary is preparing to become the go-to upscale destination for exploring natural cannabis derivatives and Hemp-infused coffee, mocktails/cocktails, pastries and more in a “lounge” type environment when it reopens to the Houston community as Wild. With the help of Dallas-based architecture and design firm Harrison, Wild will open as a boutique dispensary, coffee shop and bar in a lounge environment. Harrison’s work for Wild spans from identity exploration and concept development to extensive branding such as logo, packaging, merchandising and building design. The …

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Newspeopleretailers

Levi Strauss & Co. Makes Management Changes

by Katie Lee

San Francisco — Levi Strauss & Co. has made a change of leadership in its commercial organization. Sanjeev Mohanty, senior vice president and managing director of South Asia-Middle East and Africa for Levi Strauss & Co. (LS&Co.), will become the senior vice president and managing director for U.S. and Canada — the company’s largest and most complex commercial operations cluster, spanning all brands and channels. Mohanty is a veteran retailer and apparel executive who has held roles with a number of global brands over the span of his career, including …

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construction and designNewsretailers

Fresh Thyme Market to Open New Concept Store in St. Louis

by Katie Lee

Downers Grove, Ill. — Fresh Thyme Market, a full-service specialty retailer with 70 stores in 10 states throughout the Midwest, will open a new concept store on Nov. 10 at City Foundry in St. Louis. The Fresh Thyme Market at City Foundry STL store will be located at 3701 Foundry Way. “We’re thrilled to finally announce when we’ll be opening our doors and welcoming the St. Louis community to our beautiful new flagship store,” says Jane Wilcox, store director. “Our team provides shoppers with an unparalleled grocery experience from the …

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construction and designfranchise developmentNewsrestaurants

Jack in the Box Signs Agreements to Open 111 New Locations in 2021

by Katie Lee

San Diego — Jack in the Box Inc., one of the nation’s leading QSR chains, has awarded seven development agreements in the fourth quarter of fiscal year 2021 to open 47 new restaurants. In total, Jack in the Box has awarded 23 development agreements in fiscal year 2021 to build 111 stores over the course of the next several years. The agreements will help the brand grow in existing markets including Los Angeles, Dallas and Houston, as well as new ones such as Salt Lake City and Louisville, Ky., indicating …

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JCPenney Welcomes New CEO

by Katie Lee

Lewisville, Texas — Texas — JCPenney has appointed Marc Rosen as chief executive officer, effective Nov. 1, 2021. Stanley Shashoua, Simon’s chief investment officer, has been appointed as executive chairman of the board of directors after serving as interim CEO of JCPenney since January. “Marc joins JCPenney following a year of focused work to stabilize the business, improve financials and position the retailer for long term success,” says Shashoua. “Working with the phenomenal and dedicated JCPenney team as CEO has been immensely rewarding, and I look forward to my next …

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