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ODP Confirms Receipt of Staples Proposal to Acquire Consumer Business for $1 Billion

by Katie Lee

Boca Raton, Fla. — The ODP Corporation, a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,100 stores, has confirmed that its board of directors has received a proposal from USR Parent, Inc. (Staples), the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the company’s consumer business for $1 billion in cash. Last month, the company announced a plan to separate into two independent, publicly-traded companies, each with a unique …

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franchise developmentNewsrestaurants

TCBY Celebrates 40th Anniversary with Continued Growth and Expansion

by Katie Lee

Broomfield, Colo. — TCBY, the world’s original frozen yogurt brand, is celebrating its 40th anniversary with the brand continuing to expand rapidly and thrive as communities reopen amid the rollout of the COVID-19 vaccine. TCBY opened 12 new U.S. locations in the past year and six additional locations are set to open in the coming months. This summer, TCBY will open a new drive-thru in St. Augustine, Fla.; a new self-serve store in Bayonne, N.J., focused on catering with a late-night walk-up window; and a counter-service store in Navarre, Fla., …

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Let’s Pave Develops Lifecycle Cost Calculator for Asphalt Parking Lots

by Katie Lee

Oak Brook, Ill. — Let’s Pave, a leading national provider of specialized paving services and solutions, has developed and released a lifecycle cost calculator for asphalt parking lots. The tool was generated to help facility managers secure proper funding for proactive parking lot maintenance. Calculations are based on a net present value financial analysis of a typical parking lot. The calculator enables facility managers and CFOs to run a similar analysis using actual data from their company for any asphalt parking lot. “It is common for businesses with multiple asphalt …

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Buff City Soap Expands in Atlanta with First Buckhead Store

by Katie Lee

Atlanta — Buff City Soap, a Southern-based lifestyle brand changing the way people buy their everyday soap by providing plant-based alternatives, has opened its third soap ‘makery’ in Atlanta. Located on Roswell Road in the prominent Buckhead shopping district, Buff City Soap is known for its handmade, plant-based soap and body products. The store opened in late May. Unlike supermarket alternatives, Buff City Soap creates high-quality products free of harsh chemicals, detergents, dyes, animal fats and sulfates. By giving customers the chance to see the whole making process live in …

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First Watch Expands Footprint in Chicago

by Katie Lee

Chicago — First Watch, the award-winning brunch restaurant that made its Chicagoland debut in Oak Brook in March, continues to expand into the region with the opening of a new restaurant in the suburb of Kildeer on June 7. The new 5,605-square-foot standalone restaurant is located in the Shops at Kildeer. The brunch spot offers a unique indoor/outdoor dining space and cocktail bar, where it will serve fresh breakfast, brunch and lunch 7 days a week. “Since opening our doors in Oak Brook a few short months ago, the Chicagoland …

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Gap’s First Quarter Sales Increase 28%, Net Sales Hit $4 Billion

by Katie Lee

San Francisco — Gap Inc., the parent company of Old Navy, Gap, Banana Republic and Athleta, released its first-quarter 2021 fiscal report showing net sales reached $4 billion, up 8% from 2019. Additionally, comparable sales were up 28% year-over-year and rose 13% since pre-pandemic 2019. The company showed strong increases in net sales at Old Navy and Athleta — 27% and 56% increase over 2019, respectively. There were declines in net sales at Gap Global (16%) and Banana Republic Global (29%). Old Navy’s comparable sales were up 35% year-over-year and …

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Yum! Brands to Acquire Technology Company Dragontail Systems

by Katie Lee

Louisville, Ky., and Perth, Australia — Yum! Brands, Inc. and Dragontail Systems Limited, an innovative provider of technology solutions for the food industry, have entered into a binding agreement under which Yum! Brands would acquire Dragontail for A$93.5 million in cash. The proposed acquisition is expected to close by the end of third quarter 2021. If successfully implemented, the addition of Dragontail to Yum! Brands’ growing technology portfolio is intended to give Yum! Brands the ability to scale Dragontail’s artificial intelligence (AI) kitchen order management and delivery technology globally. Australia-based …

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Nathan’s Famous Acquires Arthur Treacher’s to Relaunch as Virtual Kitchen Concept

by Katie Lee

Jericho, N.Y. — Nathan’s Famous, the American tradition serving New York favorites for more than 100 years, has added Arthur Treacher’s to the brand’s portfolio, now available as a ghost kitchen concept. Arthur Treacher’s, which was founded in 1969, offers hand-dipped fish, chicken and French fries. The menu, which has been revamped by Nathan’s Famous, will highlight the brand’s traditional menu items while also featuring upgraded proteins, more contemporary builds and includes a focus on shrimp. “We are thrilled to provide operators across the country with the opportunity to add …

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Newspeopleretailers

The Container Store Fills 5 Leadership Roles with Specialty Retail Experts

by Katie Lee

Coppell, Texas — The Container Store, leading specialty retailer of storage and organization solutions and custom closets, has added five new company leaders to complement existing leadership. Four months into Satish Malhotra’s role as CEO, he has hired key leaders and added new roles: Dhritiman Saha (chief information officer), Michelle Gill (vice president of merchandising), Robert Higgins (vice president of real estate), LaTisha Brandon (senior director of diversity, equity and inclusion) and Ivet Taneva (senior director of environmental, social and governance). Saha comes from GameStop where he was the chief …

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sweetgreen Rebrands to Reimagine the Future of Fast Food

by Katie Lee

Los Angeles — sweetgreen, the mission-driven restaurant brand serving healthy food at scale, introduces a new brand identity to reimagine fast food and speak to future generations about the importance of what they eat. The goal was to create a flexible, sustainable design system that both reflects the culture of local communities and works at scale. With this rebrand, sweetgreen aims to be a positive force on the food system by focusing on the following areas: Food: sweetgreen wants to show that fast food can be synonymous with real food. …

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