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Roark Capital Agrees to Acquire Subway Restaurant Chain

by Katie Lee

Milford, Conn. — Private equity firm Roark Capital has entered into a definitive agreement with Subway to acquire the Milford, Conn.-based restaurant chain. The price was not disclosed, but according to CNBC, Subway previously sought $10 billion, and The Wall Street Journal reported on August 21 that Roark offered $9.6 billion. According to CNBC, other bidders reportedly included TDR Capital and Sycamore Partners. Founded more than 50 years ago by Peter Buck and Fred DeLuca, Subway boasts 36,592 restaurants globally, according to the company website. Market-research firm Technomic has reported that the chain garnered $9.8 billion …

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Subway® Announces New Senior Leadership Appointments

by Katie Lee

Miami — Subway, one of the world’s largest restaurant brands, has announced leadership transitions. After an 18-year tenure, Subway’s president of North America, Trevor Haynes, plans to leave the company at the end of the calendar year. Haynes, who joined Subway in 2006 as territory manager in Australia, has worked across several continents and held significant leadership positions during his time with the brand, including chief business development officer and interim CEO. Douglas Fry, country director of Subway Canada, will assume the role of president of North America, effective September …

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Industry Voicesrestaurantssignage

Their Story

by Katie Lee

— By Jon Jaggers — How to leverage brand heritage in the restaurant industry and beyond. Have you ever found yourself drawn to a restaurant not just because of the food, but because of its unique history and story? Maybe it’s a local diner that’s been around for decades, or a chain that’s been passed down from generation to generation. Whatever it may be, brand heritage is a powerful tool in the food and beverage industry. In this post, we’ll dive into why brand heritage matters, and how it can …

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flooring/floor careIndustry Voicesrestaurants

Stick With It

by Katie Lee

— By Mickie Bollinger — How to get a grip on floor safety. Slips, trips and falls have unfortunately provided the source material for countless viral videos on social media, but business owners and facility managers know they’re no laughing matter. Whether it’s a team member who’s at risk due to unsafe working conditions, or a customer who encounters slippery floors when they enter your building, there’s great potential for injuries and liability claims if you’re not all in on floor safety. Slips, Trips and Falls by the Numbers The …

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construction and designfranchise developmentNewsrestaurants

QDOBA Plans to Double in Size Over the Next Decade

by Katie Lee

San Diego — QDOBA, America’s #2 fast-casual Mexican restaurant brand, is planning for rapid expansion. With 750 restaurants in 45 states, the privately held company expects to double in size over the next decade, with plans to open 40 new restaurants this year, followed by 60 in 2024, and 80+ annually beginning in 2025. “QDOBA is an exceptionally well positioned brand in one of the most attractive restaurant categories. We possess long-standing momentum, strong unit economics, a compelling operating model, an extraordinarily passionate guest following and significant untapped geographic potential,” says …

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Captain D’s Names New Chief Financial Officer

by Katie Lee

Nashville, Tenn. — Captain D’s has named Jeff Wilson as its new chief financial officer. He joins Captain D’s at a time when the fast-casual seafood franchise is expanding its geographic footprint, introducing new menu offerings and offering an exceptional customer experience with streamlined digital, drive-thru and delivery options. Wilson joins Captain D’s from Cracker Barrel. “We are pleased to have Jeff join the Captain D’s executive team, bringing with him a wealth of finance, operations, and profitability enhancement skills in both public and private companies,” says Phil Greifeld, CEO and …

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franchise developmentNewsrestaurants

Playa Bowls Opens 200th Location; Plans 33 More By Year End

by Katie Lee

Belmar, N.J. — Playa Bowls, a leading superfruit bowl franchise, has opened its 200th shop. This new opening marks Playa Bowls’ 71st franchise agreement this year, demonstrating the brand’s dedication to growth since first launching in Belmar, N.J., in 2014. The brand plans to open 33 additional shops before the end of the year. “Playa Bowls once began as a patio table outside of a pizza shop, and now, nearly a decade later, we’ve reached 200 locations across the nation,” says Abby Taylor, chief marketing officer of Playa Bowls. “With …

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Checkers and Rally’s Rolls Out Hi Auto’s First-Ever Spanish Language Drive-Thru Voice AI Ordering

by Katie Lee

Dayton, Ohio — Hi Auto and Checkers and Rally’s Drive-in Restaurants have added Spanish drive-thru voice AI ordering, representing a milestone development both for the QSR industry and for North America’s more than 50 million Spanish and bilingual speakers. Already operational at more than 350 of the restaurant group’s locations, Hi Auto’s is the world’s most widely deployed drive-thru voice AI ordering technology. Following beta testing over the past 2 months at five of its drive-thrus, Checkers and Rally’s is ready to expand the Spanish drive-thru voice AI rollout to …

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Fogo de Chão to be Acquired by Bain Capital Private Equity from Rhône Capital

by Katie Lee

Dallas — Fogo de Chão, the internationally renowned restaurant brand from Brazil, has entered into a definitive agreement to be acquired by Bain Capital Private Equity to accelerate its growth and expansion. Fogo will continue to operate under its current management team, led by CEO Barry McGowan. Funds affiliated with Rhône Capital (together with certain of their affiliates) have owned Fogo since taking the company private in 2018. Financial terms of the private purchase were not disclosed. Founded in Southern Brazil in 1979, Fogo elevates the centuries-old cooking technique of …

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construction and designCover StoryFrom The Magazinerestaurants

Better Together

by Katie Lee

— By Kristen Hartman — Co-branding the future of QSR — dos and don’ts. The concept of co-branding has resurfaced again as a way for brands to maximize their product and capitalize on the variety of opportunities it allows. The idea is exactly as it sounds: multiple brands partner with each other under one roof to provide a wider variety of products that are complementary to one another. This creates excitement and interest among consumers while allowing the brands to see savings on rent and other costs, all while streamlining …

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