This week on Nation’s Restaurant News, the biggest news was that Inspire Brands will buy Dunkin’ Brands for $11.3 billion. The owner of Arby’s, Buffalo Wild Wings, Sonic Drive-In, Jimmy John’s and Rusty Taco will acquire Dunkin’ and Baskin-Robbins to create one of the world’s largest restaurant companies. NRN took a look at what the deal could mean for more mergers and acquisitions in the industry.
It wasn’t the only sale announced this week. Roark Capital Group affiliates sold Corner Bakery Cafe to Pandya Restaurant Growth Brands LLC, which also owns Boston Market. Terms of that deal were not disclosed. And Sun Capital Partners-owned FIC Restaurants sold family-dining chain Friendly’s to Amici Partners Group in a bankruptcy asset sale.
Three large restaurant companies announced store closures during earnings calls this week. Pizza Hut, owned by Yum Brands, closed 672 units during the last quarter. Nearly half of those came from the NPC International Chapter 11 filing. Starbucks announced that it would close another 100 U.S. stores, plus 100 in Canada, in addition to the 400 closures that were initially announced in June. And The Cheesecake Factory Inc. said that it would close its RockSugar Southeast Asian Kitchen in Los Angeles.
In other news, McDonald’s named a new vice president and global chief diversity, equity and inclusion officer; 24 chains added new menu items; and Cracker Barrel’s vice president of culinary and menu strategy joined the Extra Serving podcast to talk about gearing up for the holidays during the pandemic.
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