Every penny counts: While McDonald’s Corp. managed to beat third-quarter earnings estimates by a penny—profits were up despite weak sales—the company is re-thinking its 2014 plans.The chain will be pushing back on opening new restaurants, particularly in China and other emerging markets. The company now expects to spend a total of $3 billion this year…

IMI is selling its beverage dispensing and merchandising businesses, including 82-year-old Cornelius, to the Berkshire Hathaway-owned Marmon Group. The Glendale Heights, Ill.-based Cornelius, which makes valves and dispensers and other parts for beer, juice, soft-drink and frozen-drink equipment, accounts for about 14% of IMI’s overall revenue. In addition to Cornelius, the $1.1 billion sale includes…

Two familiar names, former Enodis and Scotsman Industries executives Dave McCulloch and Dave Wrench, have stepped back in the E&S world with their investment in HTG Trading Ltd. The newly renamed HTG Investment Ltd., which owns Hubbard Ice Systems and Taylor UK, was previously owned by a venture capital consortium. Hubbard Ice Systems is the…

Somat Waste Reduction Technology and Stero Warewashing Systems have inked an exclusive supply source agreement with Aerowerks to help launch a new line of TragenFlex conveyors and handlers. The agreement with Aerowerks boosts the companies’ goal of providing complete dishroom and waste-management solutions. Pete Michailo, who spearheaded the effort for Somat/Stero, said securing the agreement…

After two years of solid growth and a revamped restaurant design, business is good at Captain D’s Seafood Restaurants. Now the Nashville, Tenn., chain soon will have new ownership. Boca Raton, Fla.-based private-equity firm Sun Capital Partners recently announced an agreement to sell Captain D’s to New York-based Centre Partners. Terms of the deal were…

Nor-Lake was honored recently with an award recognizing its 45 years of association with the Dairy Queen System. Nor-Lake has supplied walk-in and cabinet equipment to Dairy Queen since 1968. The Hudson, Wis., company received the award at the 2013 Dairy Queen Supply Chain Summit, Sept. 24-27, in St. Petersburg, Fla. Middleby Corp. has been…

Starbucks Corp. has opened its first Teavana tea store and bar on Manhattan’s Upper East Side. The inaugural store has a tea bar serving hot and cold drinks; the food menu includes baked goods, salads and flat breads. Starbucks acquired Teavana Holdings last year for $620 million. Teavana had about 300 shopping mall stores that…

The Middleby Corp. has acquired the commercial refrigeration and foodservice products business of Celfrost Innovations Pvt. Ltd. Celfrost, based in Gurgaon, India, has annual sales of approximately $20 million. The Celfrost business was acquired by Middleby’s newly established entity in India, Middleby Commercial Food Innovations Pvt. Ltd. Celfrost offers a broad line of cold-holding and…

In with the new this month as the 35-year-old Society for Foodservice Management has become the Society for Hospitality and Foodservice Management. The strategic brand enhancement was unveiled in October at the association’s national conference in Bonita Springs, Fla. The change addresses the evolving responsibilities of the association’s key member segment, Client Liaisons and Self-Operators…

New Yorkers like to think their city is the center of the universe, and it will indeed achieve that title next month with the kickoff of the 98th annual International Hotel, Motel + Restaurant Show, running Nov. 9-12 at the Jacob K. Javits Convention Center. IHMRS is offering free registration to all operators and end…