Louisville, Ky. — Yum! Brands, Inc.’s board of directors has unanimously elected David Gibbs as chief executive officer, effective January 1, 2020, and appointed him to the company’s board, effective November 1, 2019. Gibbs, who currently serves as Yum! Brands’ president and chief operating officer and oversees the global KFC, Pizza Hut and Taco Bell divisions, will succeed Greg Creed, who has decided to retire at the end of 2019 after a successful 25-year career with the company. “I’ve had the privilege of partnering with our franchisees to grow the …
restaurants
Louisville, Ky. — Pizza Hut will close as many as 500 dine-in stores over the next 24 months as part of a broader strategy to bolster its delivery and carryout services, company executives said during the second-quarter earnings call. Food Business News first reported the announcement. Pizza Hut, which is owned by Louisville, Ky.-based YUM! Brands, operates about 7,500 locations across the United States and 18,000 worldwide. In the United States, roughly 6,100 of the company’s locations are dine-in restaurants. The remaining locations are express units, which feature limited menus …
Los Angeles — California Pizza Kitchen (CPK) has appointed Scott Hargrove as executive vice president and global chief marketing officer. Since joining CPK earlier this year, Hargrove is leading marketing and growth efforts of the 240+ unit worldwide restaurant brand including brand and performance marketing, culinary innovation, social media, loyalty, communications and community engagement. Along with recent strategic team additions in data insights and digital, Hargrove’s role will be instrumental in delivering a new era of guest experience at CPK, driving growth through amplified brand building and digital-based marketing that …
Chicago — Potbelly Corporation, a neighborhood sandwich shop concept, has signed three new franchise agreements. Over the last 6 months, the company signed franchise agreements that, when fully built out over the coming years, will nearly double its franchise footprint with multi-unit development deals for a total of 38 units spanning Las Vegas; Tampa, Florida; and the Carolinas. In addition, Potbelly has opened a number of franchise stores this year that are driving brand penetration across several areas of the country, including recently opened shops in Irvine, Calif.; Odessa, Texas; …
Calabasas Hills, Calif. — The Cheesecake Factory Incorporated has entered into definitive agreements to acquire Fox Restaurant Concepts (FRC) and the remaining interest in North Italia, reinforcing its leadership position in experiential dining. The transactions will be completed for $308 million. “Since making our initial minority investments in North Italia and Flower Child in 2016, we have not only helped fuel the growth of both brands, but also developed a deep relationship with Sam Fox at Fox Restaurant Concepts,” says David Overton, chairman and CEO of The Cheesecake Factory Incorporated. …
Houston — The Rustic plans to bring its farm-fresh fare and Texas-sized selection of wine, spirits and beer, served alongside live music 7 days a week, to the west side of Houston. Located at 1121 Uptown Park Blvd. in Houston’s Uptown Park, the 27,000-square-foot venue broke ground on Aug. 1 and is anticipated to open in February 2020. The Rustic is the brainchild of Kyle Noonan, Josh Sepkowitz and Texas country artist Pat Green, whose love of the outdoors and live music helped bring The Rustic to life. The result …
New York City — Mamoun’s Falafel, the fastest growing Middle Eastern fast-casual restaurant in North America, has opened its fifth location in New Jersey, with plans for two more to open by the end of the year. The new restaurant, located at the Wall Promenade shopping center in Wall, N.J., marks the 10th location nationwide. The concept’s New Jersey partner, Prospect Capital Restaurants, signed a multi-unit franchise agreement to continue bringing Mamoun’s Falafel throughout the state of New Jersey. Prospect Capital Restaurants is responsible for existing franchise locations in Wall …
Fort Myers, Fla. — GATES Construction has completed multiple projects at Daniels Marketplace located at the crossing of Daniels and Six Mile Cypress parkways in Fort Myers, Fla. The project buildouts include Club Pilates, Paradise Grill, Tide Dry Cleaners, Uh-Maze Bowls, Pearle Vision and Hand & Stone Spa. Design services are provided by Wakefield Beasley & Associates and Hand & Stone Franchise Corp. For over 25 years, GATES has provided construction management, general contracting and design-build services. Its diverse portfolio of commercial, healthcare, multi-family, club and hospitality, institutional and special …
Louisville, Ky. — Yum! Brands, Inc. has appointed Taco Bell division and Pizza Hut division chief executive officers, who each will assume global responsibility for driving their respective brand’s growth strategies, franchise operations and performance. Now, each of the company’s three global brand divisions will be led by a CEO. Mark King, former president of adidas Group North America, will join the company as Taco Bell division CEO, reporting to David Gibbs, president, COO and CFO, Yum! Brands. King brings extensive retail experience and an excellent track record driving growth, …
Orlando, Fla. — Another Broken Egg Cafe® has doubled in size over the past 5 years; recently it signed nine new deals from successful multi-unit franchisees and plans to operate 300 cafes by 2025. These franchise groups plan to open a combined total of over 30 cafes in Alabama, Arizona, California, Florida, Kansas, Ohio, Pennsylvania and Texas. The new deals were signed with experienced, multi-unit franchise groups who currently or historically operated Buffalo Wild Wings®, Church’s Chicken®, Five Guys® Burgers and Fries, and Jack in the Box® Hamburgers. Additionally, existing …