In This Section:
Standex Acquires APW Wyott Group, AFI
Aramark Shareholders Approve Buyout
Energy Star Launches New Web Page, Newsletter
Portions Growing; Restaurants To Blame?
This issue's Economic Report Sponsor: Hotelex Shanghai, April 4-7, 2007 |
Regulatory ReportSponsor: Delfield Co./Enodis
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Standex Acquires APW Wyott Group, AFI
Two recent acquisitions by Standex Int'l. Corp.—of the APW Wyott group of companies and also American Foodservice Co.—have broadened the Salem, N.H., manufacturer's share of the hot-food equipment and custom fabrication markets.
The combined operations will put Standex annual revenues in the range of $350 million, advancing it among the leading foodservice equipment makers in North America.
In January, Standex acquired the APW Wyott group in a deal valued at about $84 million. APW Wyott specializes in cooking and warming equipment; its sister brands include conveyor oven maker Bakers Pride and holding cabinet supplier BevLes. Hylton Jonas and his management team have agreed to continue running the business.
Also last month, Standex finalized the acquisition of Savannah, Tenn.-based custom fabricator and millwork manufacturer American Foodservice Co. Jeff Sparks will continue to serve as president, and the management team will remain in place.
Both the APW Wyott group and AFC operations will be integrated into the Standex Food Service Equipment Group. Standex brands include BKI, Federal Industries, Master-Bilt, Nor-Lake and Procon.
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Aramark Shareholders Approve Buyout
As expected, a deal announced in August to take Aramark Corp. private was approved by company shareholders last month.
An investment group led by Aramark Chairman and CEO Joseph Neubauer proposed the acquisition to refocus the company on its service goals. The project is backed by investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC.
The deal was subject to a majority vote under Delaware law and another at a special shareholders meeting. Shareholders will receive $33.80 in cash per share of the company's common stock. The acquisition will close by the end of January.
Energy Star Launches New Web Page, Newsletter
Want to know which equipment types and models qualify for Energy Star? Interested in finding out about incentives on energy-efficient equipment or utility rebate programs?
Energy Star now has a page on its Web site devoted to commercial foodservice. The new web page has useful information including links to qualified product lists, case studies, incentive programs, tools and more. Check it out at
www.energystar.gov/index.cfm?c=commercial_food_service.commercial_food_service.
To get the news in a more timely fashion, you can also sign up for Energy Star's new commercial foodservice newsletter. Send an e-mail to Jared Fish at jfish@icfi.com or call 202/862-1144.
Portions Growing; Restaurants To Blame?
Okay, so we know that research studies show if you put a larger portion in front of people, they'll eat it. Now research says that we've grown so used to larger portions that we'll choose them if we have the chance.
Research done in 2003 and recently published in the American Dietetic Association journal shows that portions have grown in the past 20 years. Conducted at Rutgers University, the study replicated a 1984 study at Penn State University. In both studies, students were given a choice of three sizes of plates, bowls and cups and asked to select foods from a buffet. The Rutgers students took 20% more cornflakes and milk at breakfast than the Penn State students did 20 years earlier, and 40% more orange juice. The study found similar results at lunch and dinner.
Jamie Schwartz, a co-author of the Rutgers study, says the change has to do with larger portions at restaurants and in food packaging, and larger plate sizes.
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