News

Newsretailers

WHP Global Buys Controlling Stake in Toys ‘R’ Us Parent Company, Plans Partial U.S. Reopening

by Katie Lee

New York City — WHP Global, a New York City-based firm that acquires global consumer brands, has purchased a controlling stake in Tru Kids Inc., the parent company of Toys ‘R’ Us. WHP Global joins a group of institutional shareholders that includes funds managed by Solus Alternative Asset Management and Ares Management Corp. Going forward, WHP will manage Tru Kids’ global business and direct its strategic expansion, which according to CNBC will include the reopening of some U.S. stores. Neither the network nor the companies involved in the deal specified …

Continue Reading
0 FacebookTwitterPinterestEmail
franchise developmentNewsrestaurants

Brooklyn Dumpling Shop Inks First Multi-Unit Franchising Deal

by Katie Lee

New York City — Brooklyn Dumpling Shop, a fast-growing dumpling automat concept, has signed its first franchising deal to bring five locations to Connecticut. The brand is poised to disrupt the quick-service restaurant industry with its innovative automat technology and contactless format. Even before the first location opens its doors in New York, potential franchisees are eager to sign on to the concept. The franchisee’s first location will be in New Haven, where Yale is located, as the concept is perfect for college cities and residents will be able to …

Continue Reading
0 FacebookTwitterPinterestEmail
Newspeopleretailers

Ulta Beauty Plans CEO Transition; Also Promotes Internally to COO Position

by Katie Lee

Bolingbrook, Ill. — Ulta Beauty plans leadership changes to drive continuity and continued momentum, all effective in June. Dave Kimbell, president, will succeed Mary Dillon as chief executive officer and will be nominated to stand for election to the company’s board of directors at the 2021 annual stockholders meeting. Dillon will transition to the role of executive chair of the board of directors. Kecia Steelman, currently chief store operations officer, will be elevated to the role of chief operating officer. “It has been the honor of my career to lead …

Continue Reading
0 FacebookTwitterPinterestEmail
franchise developmentNewsrestaurants

Antioch Pizza Shop Plans Strategic Franchise Expansion Plan

by Katie Lee

Antioch, Ill. — Antioch Pizza Shop has announced a strategic franchising initiative that will accelerate its expansion plans in target markets. With seven locations open and three more in development in Illinois and Wisconsin, Antioch Pizza Shop has set its sights on targeted franchise growth, zeroing in on key markets throughout the Midwest and Southeast. “We’ve seen how our dedication to the communities we serve has bred success, and we think it’s time for people from all over the Midwest and Southeast to experience what makes Antioch Pizza Shop special,” …

Continue Reading
0 FacebookTwitterPinterestEmail
Newsretailers

Callaway Completes Previously Announced Merger with Topgolf

by Katie Lee

Carlsbad, Calif., and Dallas — Carlsbad, Calif.-based equipment and apparel manufacturer Callaway Golf Co. has completed its merger with Topgolf Entertainment Group. The deal was originally announced in October 2020. Under the terms of the merger agreement, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which previously held approximately 14% of Topgolf’s outstanding shares. Callaway shareholders now own approximately 51.3% of the outstanding shares of the newly combined entity, and former Topgolf shareholders (excluding Callaway) own approximately 48.7%. Both firms have …

Continue Reading
0 FacebookTwitterPinterestEmail
Newspeoplerestaurants

Biscuitville Promotes Three Executives Internally

by Katie Lee

Greensboro, N.C. — McKinley Greer, Jenna Hiera and Jasmine Daniels have taken on new roles at the beginning of the year at Biscuitville Fresh Southern. Greer has been named guest analytics manager at Biscuitville. She joined the company’s marketing team in October 2018 as a guest analytics specialist. Previously, she was a part of the Biscuitville operations team and served in various other roles throughout the company. Greer handles all guest analytic information as well as leads all demographic research. She also provides guidance to the culinary operations team. Hiera …

Continue Reading
0 FacebookTwitterPinterestEmail
Newsrestaurantssoftware/technologyvendors

Restaurant Tech Company Omnivore Names CEO & CRO to Lead Next Phase of Growth

by Katie Lee

Clearwater, Fla. — Omnivore, a technology company serving the restaurant industry, has named Dan Singer as chief executive officer and hired Shane Whitlatch as chief revenue officer. Both executives have significant experience in leading fast-growth companies. The executive appointments come after Omnivore’s successful Series A funding round, raising $13 million from notable investors including The Coca-Cola Company, Performance Food Group and Tampa Bay Lightning owner Jeff Vinik, in 2018. The investments have fueled the company’s growth, with more than 24,000 locations using Omnivore. Singer was appointed CEO after leading Omnivore …

Continue Reading
0 FacebookTwitterPinterestEmail
construction and designNewsrestaurantsretailers

Brookfield Properties Opens Retail, Dining Portion of Fifth + Broadway in Downtown Nashville

by Katie Lee

Nashville, Tenn. — Brookfield Properties has opened the retail and dining component at Fifth + Broadway, a 6-acre mixed-use project in downtown Nashville, Tenn. Brookfield and local developer Pat Emery partnered on the development, which formerly was the location of the Nashville Convention Center. General contractor Skanska broke ground on the project in April 2017, when San Diego-based OliverMcMillan was the lead developer before its acquisition by Brookfield in February 2018. Designed by Gresham Smith and Gensler, the newly opened portion of Fifth + Broadway features 200,000 square feet of …

Continue Reading
0 FacebookTwitterPinterestEmail
Newsretailers

HBC and Insight Partners Launch Saks as a Standalone E-Commerce Company

by Katie Lee

New York City — HBC and leading growth capital investor Insight Partners have entered into a partnership that establishes Saks Fifth Avenue’s e-commerce business as a standalone entity, which will be known as Saks. Insight Partners has made a $500 million minority equity investment in Saks, valuing the business at $2 billion. The retailer’s 40-store fleet will operate separately as an entity referred to as SFA, which remains wholly owned by HBC. As separate but related sister companies, Saks and SFA will be better able to appropriately plan for and …

Continue Reading
0 FacebookTwitterPinterestEmail
Newsrestaurantsretailers

Alamo Drafthouse Cinema Files for Chapter 11 Bankruptcy, Enters into Asset Purchase Agreement

by Katie Lee

Austin, Texas — Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy protection and entered into an asset purchase agreement with its group of senior lenders that is led by California-based Altamont Capital Partners and Fortress Investment Group. The agreement involves the sale of “substantially all” of the company’s assets, though it remains unclear how many of its 41 theaters Alamo Drafthouse plans to close. As part of its filing, Alamo Drafthouse has asked the U.S. Bankruptcy Court for the District of Delaware to approve a 75-day timeline for restructuring its …

Continue Reading
0 FacebookTwitterPinterestEmail
Newer Posts
Older Posts