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February 16, 2015
Consumer Confidence Down, Gas Prices Up
The party had to end sometime. The run-up in consumer confidence took a pause during the first half of February, according to the preliminary reading from the University of Michigan’s Consumer Sentiment Index, released Feb. 13. The index fell unexpectedly to 93.6 from a final measure of 98.1 in January. That reading was the strongest…
February 16, 2015
A New Generation Takes The Reins At Curtis
The Wilbur Curtis Co., the family-owned maker of commercial coffee and tea brewing systems, has promoted two key executives. Kevin Curtis is the Montebello, Calif., firm’s new president and CEO; his brother, Michael Curtis, is the newly named executive v.p. The announcement was made by company chairman Bob Curtis. “Kevin has proven himself an invaluable…
February 16, 2015
Relatively Mild Winter Helping Restaurant Sales
If you live in the Northeast, it may not seem like this winter is milder than last year’s. But it is for much of the country and that is helping restaurant sales trend higher, according to Black Box Intelligence, as reported in Nation’s Restaurant News. According to the research group’s Restaurant Industry Snapshot, which tracks…
February 16, 2015
Middleby Acquires Deck Oven Maker, Marsal & Sons
Last month, Middleby Corp. acquired the assets of Marsal & Sons Inc., a Lindenhurst, N.Y., manufacturer of deck ovens. Founded in 1969, the company has annual revenues of approximately $5 million. “Marsal has an outstanding reputation for quality and innovation with a broad product offering of deck, hearth-bake and brick-fired ovens,” said Selim Bassoul, Middleby’s…
February 16, 2015
2014 Another Busy Year For E&S Deals
It was an active year again in 2014 as business life-cycle factors and a healthy E&S market kept the pace of merger and acquisition activity relatively high. As has been typical lately, The Middleby Corp. was particularly active. Dealer activity was somewhat restrained after a very busy 2013. And there continued to be a number…
February 16, 2015
FTC Holds Off Vote On Sysco/US Foods Deal
The Federal Trade Commission has blinked. Last Wednesday night, the regulator was close to voting to block Sysco Corp.’s $3.5 billion purchase of rival US Foods, but postponed the decision after an intense day of meetings with Sysco. Sysco, the country’s largest broadliner, met last week with the FTC’s five commissioners in a last-ditch attempt…
February 16, 2015
Bipartisan Bill Would Set Lower Taxes For Restaurant Construction And Improvements
Both the House and Senate are considering bills that would permanently lower the taxes paid by restaurant operators. The legislation would create a 15-year tax-depreciation schedule for new restaurant construction as well as restaurant, leasehold and retail improvements. If the bills pass Congress and are signed by President Obama, it would end the uncertainty that…
February 16, 2015
Habit Burger Grill Heads Overseas
Habit Restaurants hopes to make its fast-casual outlets a habit in the Middle East. The chain’s first-ever international franchise agreement is with Food Quest Restaurant Management, which will develop up to 50 new Habit Burger Grill units in the UAE, Saudi Arabia, Qatar, Bahrain, Kuwait and Oman over the next decade. Habit Burger debuted in…
February 16, 2015
Ruby’s Diner Plans Big To Go Small
Ruby Restaurant Group is hoping to make a splash in the fast-casual market and add 20 franchises of its smaller “dinette-style” stores this year. The smaller units have half the footprint and half the startup costs of a standard Ruby’s Diner outlet. Ruby’s has been testing the 1960s-vibe dinette concept for about eight months in…
February 16, 2015
GFEN Honors Alto-Shaam
Alto-Shaam will receive the 2015 Gas Foodservice Equipment Network Blue Flame Product of the Year Award for its CT PROformance 7-20 Combitherm oven during this week’s The NAFEM Show in Anaheim, Calif. The Menomonee Falls, Wis., manufacturer was honored for its ability to address leading commercial kitchen equipment challenges with advancements in speed, energy efficiency…
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