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January 6, 2014
Hatco Acquires Ovention Inc.
Hatco Corp. has acquired Ovention Inc., the Dallas-based oven technology company. Ovention owns the rights to the Matchbox Oven, recognized earlier this year by the National Restaurant Association with a Kitchen Innovations Award. Ovention was founded by Phil McKee, who also was co-founder of TurboChef Inc“We are very excited about the Ovention technology and its…
January 6, 2014
India Adds Three Pinkberry Units In 24 Hours
Frozen yogurt retailer Pinkberry has expanded into India and opened three stores— in Mumbai, Bangalore and Chennai—in one day. The Santa Monica, Calif., chain has regionalized the menu for India, its 19th global market. It’s partnering there with JSM Corp., which has a portfolio of independent restaurants and is India’s exclusive master franchisee for brands…
January 6, 2014
Jake’s Inks Middle East Expansion Deal
Jake’s Wayback Burgers has grown to 72 stores in 22 states since its debut in Newark, Del., in 1991. Now it will have a presence in 28 countries in the Middle East and Africa. The Cheshire, Conn., chain has entered the international arena through an agreement with Topaz Mena LLC, a Saudi Arabian firm that…
January 6, 2014
Applications Now Being Accepted For 2014 Kitchen Innovations Awards
Fall isn’t just time for college applications, it’s time for foodservice equipment manufacturers to apply for the
January 6, 2014
New York Show Offers Free Registration
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…
January 6, 2014
A Generational Change In Leadership At Chick-fil-A
Dan Cathy has been promoted to chair and CEO of Chick-fil-A, succeeding his father, who remains as chair emeritus. S. Truett Cathy, 92, who founded the Atlanta-based quick-service chain in 1946, will turn his attention more fully to entrepreneurial efforts, including a new restaurant concept called Truett’s Luau, which is scheduled to open in Fayetteville,…
January 6, 2014
Yum! Brands Realigns Business Divisions to Propel Global Growth
Yum! Brands, parent of KFC, Pizza Hut and Taco Bell, is reorganizing its business into separate reporting divisions by brand, with China and India remaining as individual divisions. On Jan. 1, 2014, Yum!’s three major restaurant brands will combine their U.S. systems with the former Yum Restaurants Int’l. division (YRI) and have individual global business…
January 6, 2014
Wholesale Food Prices Haven’t Surged, Yet
The price-increase news for foodservice operators in December was actually pretty good. The Bureau of Labor Statistics reported wholesale food prices at all three levels of the wholesale chain fell during the month. Finished foods were down 0.9% compared to November, intermediate foods and feeds also fell 0.9% and crude foodstuffs and feedstuffs prices dropped…
January 6, 2014
Reps’ Sales Grew 3.8% In 4Q/’12; Forecast for 1Q/’13 3.6%
In spite of the uncertainty of the federal fiscal cliff late last year, manufacturers’ representatives saw sales of like lines grow 3.8% in the fourth quarter of 2012 compared with the same period in ’11, according to the latest Business Barometer from the Manufacturers’ Agents Association for the Foodservice Industry, released last week. The reps…
January 6, 2014
State Tax Revenue Surge In Fourth Quarter Was A One-Off, Rockefeller Institute Warns
Overall state tax revenues increased by 5.2% in the fourth quarter of 2012, the Nelson A. Rockefeller Institute of Government reported April 24. But the Institute’s researchers warned that the surge, which drove personal income tax collections up 10.8%, was a one-time event prompted by taxpayers taking actions to minimize federal tax liability they expected…
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