Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan, N.J.-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and …
restaurants
San Diego — Former CFO Lance Tucker is returning to Jack in the Box Inc., again as chief financial officer, effective Jan. 13, 2025. Tucker is currently chief financial officer of Davidson Hospitality Group, while having also served as CFO at CKE Restaurants Inc. and Papa John’s International, Inc. Tucker succeeds Brian Scott, who resigned from the company on Nov. 20. Tucker served as CFO of Jack in the Box Inc. from March 2018 to July 2020, during which he played an instrumental role in implementing the company’s securitization, while …
Alpharetta, Ga. — Surcheros® is on a steady growth path as it builds on a successful 2024 with ambitious plans for the upcoming year. With a 29% revenue increase from 2023 to 2024, Surcheros is gaining momentum and attracting franchise interest due to its strong AUVs, cost-effective buildout models and flexible real estate options. The brand currently operates 34 locations across Georgia, Florida and Tennessee. In 2024, the brand opened nearly 10 new stores and entered new markets in Tennessee and is set to enter South Carolina, while also strengthening …
Dallas — Smoothie King, the world’s largest smoothie brand and the first health and fitness fast-casual brand of its kind, has opened its 1,200th domestic store, located in Roanoke, Texas. The new store, located near Smoothie King’s corporate headquarters in the Dallas-Fort Worth metroplex, celebrated its ribbon-cutting ceremony on Nov. 14. In addition to the Roanoke opening, Smoothie King is accelerating its expansion in the Chicago area — one of its fastest-growing markets — with 10 new locations in various stages of development. This includes recent openings in Dekalb on …
Miami — ResQ, a leading modern facility management platform, is shining a spotlight on the unsung heroes behind the success of restaurants and hospitality businesses this November with ‘Tradesgiving.’ To celebrate its vendors and their tradespeople, ResQ is offering a limited-time promotion for new vendor selections on the ResQ directory. Customers can enjoy 15% off (up to $100) their next work order when they choose a new vendor from November 1 through November 30, 2024. “Rising labor, inventory and repair costs make it increasingly difficult for hospitality operators to find …
Dallas — Nothing Bundt Cakes®, the nation’s largest specialty cake company, has appointed franchise development veteran Joel Larkin as chief development officer to lead the 635-unit brand’s continued expansion. Larkin brings over two decades of franchise development and operations expertise to Nothing Bundt Cakes. He most recently served as chief franchise and development officer at European Wax Center, where he oversaw its expansion to more than 1,000 locations. “Joel’s background is uniquely suited to the fast-paced growth we are undertaking here at Nothing Bundt Cakes,” says Dolf Berle, CEO of …
Atlanta — Krispy Krunchy Chicken®, one of the fastest-growing hot food concepts in the convenience store business, has named Matt Testa its chief operations officer. He will focus on strengthening the sales and operations teams for the brand which licenses over 3,000 locations. Testa joins the company from Pilot Flying J. “Matt brings us a proven track record of success and growth in c-stores. He has a visionary approach for leading teams to maximize impact, efficiency and ease for operators,” says Jim Norberg, chief executive officer for Krispy Krunchy Chicken®. …
Newport Beach, Calif. — Chipotle Mexican Grill has appointed Scott Boatwright as chief executive officer and a member of the board, effective immediately. Prior to being named interim CEO in August, Boatwright served as chief operating officer, reporting directly to the company’s CEO since 2017. Responsible for more than 125,000 employees and over 3,600 restaurants, Boatwright has been a driving force for improving the company’s overall guest experience. In addition to contributing to the strategy and growth of the business, he led the integration of new technology into restaurants, built …
Honolulu — L&L Hawaiian Barbecue has appointed Kyler Kokubun as director of franchisee communications. In this role, Kokubun will focus on enhancing the relationship between the franchisor and franchisees, supporting franchisee operations and aligning marketing strategies with the brand’s vision. Kokubun brings nearly 15 years of experience in marketing, customer service and community engagement from his previous tenure at Consolidated Theatres, Hawaii’s oldest and largest movie theatre chain, where he was promoted from service associate to marketing and events manager for all locations across Hawaii. He has been instrumental in …
Holiday Prep for Retail Success: Why Maintenance Matters Before Black Friday
The holiday season can present an existential challenge for retailers, testing the skills and endurance of marketing and sales teams in a six-week race to reach revenue targets by the end of the year. It is not a time to inconvenience customers and staff with building maintenance or repairs. “There’s a reason they call it Black Friday,” says Bill Schaphorst, vice president of business development at MaintenX, a commercial facility maintenance and repair company. “Because of the surge in traffic and sales on the fourth Friday in November, that typically …