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☆ People are really annoyed about the price of fast food
▼ + stars: | 2024-04-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Fast food is getting more expensive, and Americans are annoyed about it. Diners told BI they're cutting back on how often they get fast food because of rising prices. AdvertisementBut cheaper fast food may be some way off. Experts say it could have a ripple effect on wages across the fast food industry nationwide, meaning that your favorite spots could become even pricier. The main reason Rodriguez gets fast food is the taste, he said.

Persons: —, Sara Senatore, Dunkin, Warren Colehour, Chad Frye, Artur Widak, Frye, Martin Jennings, it's, Chipotle, James R, Martin, Ben Heyworth, Burger King, He's, Del, Richard McConnell, Ricardo Rodriguez, Rodriguez Organizations: Service, Bank of America, McDonald's USA, Getty, Subway, Consumers, McDonald's Locations: Ukraine, McDonald's, Kentucky, California, Florida, Olive, Burger, Oregon

☆ Buffalo Wild Wings leans into Go takeout format as a third of sales move off premises
▼ + stars: | 2024-04-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

The 100th location of Buffalo Wild Wings Go opened Wednesday on the Upper East Side in Manhattan. Buffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot of its sports bar chain. Since 2018, Buffalo Wild Wings has been a part of Inspire Brands, which is backed by private equity firm Roark Capital. Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents. Opening a traditional Buffalo Wild Wings location requires anywhere from $2.44 million to $4.83 million in initial investment, depending on the restaurant's location and other factors, according to franchise disclosure documents.

Persons: Jimmy John's, Dunkin, Robbins, Red Robin, Jack Litman Organizations: Buffalo Wild Wings, Manhattan . Buffalo Wild Wings, Inspire Brands, Roark Capital, Baskin, Inspire, Barclays, Munson Group Locations: Side, Manhattan, New York City, BWW

☆ Subway's about to become the latest chain that asks you: 'Is Pepsi OK?'
▼ + stars: | 2024-03-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Under a 10-year agreement, Subway will start selling drinks including Pepsi, Mountain Dew, Tropicana, and Lipton. Subway's US stores will start making the switch in January 2025. AdvertisementCoke fans, watch out — Subway is ditching the drinks supplier in favor of rival Pepsi in the US. Subway announced on Tuesday that it had signed a 10-year agreement to supply PepsiCo drinks at its US stores from the start of 2025. This means that as well as Pepsi, Subway customers will also be able to get other beverages such as Mountain Dew, Tropicana, Lipton, and Gatorade.

Persons: Lipton, —, Arby's, Culver's Organizations: Pepsi, Subway's, Service, . Subway, PepsiCo, Subway, Tropicana, Lipton, Gatorade, Cola, Restaurant Business, Coca, Business Locations: Canada, Germany, Netherlands

☆ Inspire Brands CEO is 'pleasantly surprised' about the resiliency of consumers
▼ + stars: | 2024-03-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Despite the ongoing pressures of inflation, Inspire Brands CEO Paul Brown told CNBC's Jim Cramer on Tuesday he's seen that consumers have been resilient. Inspire Brands owns numerous well-known restaurant chains including Dunkin', Baskin-Robins, Buffalo Wild Wings, Arby's, Jimmy John's and Sonic. "We see about 75% of Americans every year in one of our restaurants, given the breadth of our brands," Brown said. "So we do see the nation, and we have been pleasantly surprised about the resiliency. Correction: A previous version of this story mischaracterized the name of Inspire Brands.

Persons: Paul Brown, CNBC's Jim Cramer, Dunkin, Jimmy John's, Brown Organizations: Inspire Brands, Baskin, Robins, Buffalo Wild Wings Locations: Rhode Island

☆ Panera is exempt from California's fast-food wage increase. A billionaire franchisee previously donated to Gov. Newsom.
▼ + stars: | 2024-03-01 | by ( Ana Altchek | Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Read previewCalifornia's minimum wage increase from $16 to $20 an hour for fast-food restaurant workers, set to go into effect in April, caused a stir among fast-food chains — but not Panera. He owns 12 Panera locations in California. When asked last year about the bread exemption that baffled many, Newsom said, "That's part of the sausage-making," declining to elaborate further. Flynn, in a conversation with Bloomberg, denied having a hand in the bread exemption. A few smaller brands appear to benefit from the carve-out, including Paris Baguette and Great Harvest Bread Co, Bloomberg reported.

Persons: —, Gavin Newsom, Greg Flynn —, Flynn, Taco Bell, Flynn Group's, Newsom, Panera, Paris Baguette Organizations: Service, Flynn Group, Business, Bloomberg, San Francisco Chronicle, Flynn Properties Inc, US Food and Drug Administration, Co Locations: California, Paris

☆ For the 1st time in 7 years, Subway opened more stores than it closed
▼ + stars: | 2024-02-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

In 2023, for the first time since 2016, Subway opened more stores than it closed. Subway has closed thousands of stores, resulting in years of decline in net restaurant count. AdvertisementFor the first time since 2016, after years of store closures, Subway finally opened more sites than it shuttered. AdvertisementBut Subway has also been closing thousands of stores, resulting in years of net restaurant-count decline. Restaurant Business previously reported that Subway had closed more than 6,500 restaurants between 2015 and 2022.

Persons: —, Gerardo Mora, It's, Roark Capital, Jimmy John's, Dunkin, Roark, Anne's Organizations: Subway, Service, Business, . Subway, Getty, Subway Subway, North, American, Roark Locations: Mainland China, North America

☆ $1 million donation set to wipe school lunch debt for 7,000 US students, says report
▼ + stars: | 2024-01-28 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

Read previewThe Arby's Foundation has committed $1 million to wipe the lunch debt burden for tens of thousands of students across the US, including 7,413 students in Georgia. AdvertisementAn estimated 30.4 million students have student lunch debts, totaling a combined debt of $262 million per year, according to the Education Data Initiative. AdvertisementAn elementary school in Ohio came under fire last year when it excluded indebted children from buying ice cream on "Ice Cream Friday." Kids with outstanding school lunch debt were prohibited from buying ice cream even if they came with the necessary $1. The debt problem persists despite legislative efforts such as the School Lunch Debt Cancellation Act of 2023.

Persons: —, Rita Patel, Arby's, Insider's Juliana Kaplan, Tiffany Haddish Organizations: Service, Business, Atlanta, Education Data Locations: Georgia, Ohio, Boardman , Ohio

☆ Your local Subway will no longer be allowed to reject digital coupons or avoid footlong sandwich deals
▼ + stars: | 2023-12-04 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Subway franchisees have been able to opt out of deals made through the chain's app. Starting December 28, the chain is forcing franchisees to honor all digital deals. Subway appThe Subway app currently shows a deal for 50 % off a footlong sandwich when you buy one at full price. A Subway franchisee from California questioned the legality of forcing operators to accept low-margin deals via the app. The California franchisee said they honor digital deals to maintain good customer relationships.

Persons: Jimmy John's, —, we've, Roark, Subway's Organizations: Service, Business, Roark Capital, FTC, Subway, Federal Trade Commission, Politico Locations: California

☆ Fast-food drive-thru lanes speed up as fewer drivers wait in line
▼ + stars: | 2023-10-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Fast-food drive-thru lanes are speeding up as fewer customers choose to order their meals and milkshakes sitting in their car, according to an annual study by Intouch Insight released Monday. The average total time spent in a drive-thru lane shrank by 29 seconds this year. In other words, Carl's Jr and Yum Brands' Taco Bell and KFC were only speedier because their drive-thru lanes weren't as popular. But across the board, drive-thru lanes have waned in demand since the pandemic began. Despite those efforts, this year's total drive-thru times still lag 2019 times by 15 seconds.

Persons: Carl's Jr, Dunkin, Taco, Wendy's, Carl's Organizations: Intouch, KFC, Taco Bell, Yum Brands, Bell, Taco Locations: Arby's, Burger, Fort Worth, Taco Bell, Brooklyn Park , Minnesota

☆ I visited 4 Subway locations and saw firsthand what challenges its new owners will face. I found stale bread, bad tuna, and outdated, dirty restaurants.
▼ + stars: | 2023-09-01 | by ( Nancy Luna | ) www.businessinsider.com time to read: +9 min

We visited four Subway in Southern California to figure out how Roark can fix the brand. So I visited four Subway stores near my Southern California home. It is one of hundreds of Subway stores that have been remodeled over the years. In 2021, The New York Times conducted its lab test and published a report stating that it found no tuna DNA in Subway tuna sandwiches. I ordered the tuna sandwich at a Subway in Santa Ana, California, an aging stand-alone store in a former adobe-style Taco Bell building.

Persons: Roark, Dunkin, Fred DeLuca, Jared Fogle, It's, haven't, Nancy Luna, Burger King, —, Tim Powell, Powell Organizations: Roark Capital, Buffalo Wild Wings, Service, Subway, Royce, Owners, The New York Times, Chapman University Locations: Southern California, Wall, Silicon, Jersey, North America, Miami, Orange , California, Santa Ana , California, Orange

☆ Factbox: Subway to sell itself to Roark Capital
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups. The pair then started franchising Subway restaurants, with the first outlet outside of Connecticut being opened in Massachusetts a year later. For 2022, Subway posted a 9.2% year-over-year increase in same-store sales, thanks to its "Subway Series" menu - a lineup of 12 new signature sandwiches. In March, Goldman Sachs' (GS.N) asset management arm, PE firms Bain Capital, TPG, TDR Capital, Advent International and Roark Capital emerged among the list of suitors for the sandwich chain. Reuters reported earlier this week, citing sources that Roark Capital was in the lead to acquire the chain for well over $9 billion after attaching conditions to some of the windfall the two families that own it would get.

Persons: Thomas White, Roark Capital, Fred DeLuca, Peter Buck, DeLuca, Buck, Arby's, Quiznos, Burger, Jared Fogle, Chidsey, John Chidsey, Morgan, Goldman Sachs, Roark, Deborah Sophia, Granth Vanaik, Varun, Anil D'Silva Organizations: REUTERS, Subway, KFC, Bain Capital, TPG, TDR, Advent International, Roark Capital, Reuters, Thomson Locations: Bridgeport , Connecticut, Connecticut, Massachusetts, Bahrain, Subway, United States, Burger, U.S, North America, Bengaluru

Aug 24 - Subway has agreed to sell itself to private equity firm Roark Capital in a deal valuing the sandwich chain at more than $9 billion, sources said, ending a long-drawn auction that saw several bids from buyout firms. The deal will make Roark Capital one of the largest restaurant operators in the world. It controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. The restaurant chain had then hoped to fetch more than $10 billion, owing to its strong brand and international business.

Persons: Roark, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. The arrangement helped bridge a gap in the valuation expectations between Roark Capital and the DeLuca and Buck families that own Subway, according to the sources. The deal will make Roark Capital one of the largest restaurant operators in the world. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. Roark and Subway have 12 months to close the deal, which has a 4% breakup fee, sources said.

Persons: Roark, DeLuca, Buck, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Abigail Summerville, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

☆ Subway sandwich chain sells itself to Dunkin' owner Roark Capital
▼ + stars: | 2023-08-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

In this photo illustration, a Subway meal is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Roark Capital is buying Subway, ending the sandwich chain's more than five decades of family ownership and marking a new era for the struggling company. Subway dwarfs all of them by number of restaurants, and brings in more annual sales than all but Dunkin'. Through holding company Inspire Brands, Roark owns Dunkin', Baskin-Robbins, Sonic, Arby's, Buffalo Wild Wings and Jimmy John's. Roark plans to keep Subway as a separate entity within its portfolio, Subway CEO John Chidsey told the Journal.

Persons: Roark, Dunkin, Robbins, Jimmy John's, Anne's, Carvel, Neil Saunders, John Chidsey, Chidsey, Fred DeLuca, Peter Buck, Jared Fogle, DeLuca, Buck Organizations: Roark Capital, Subway, TDR, Sycamore Partners, Wall Street, Inspire Brands, Baskin, Buffalo Wild Wings, Focus Brands, Journal ., Business Locations: Austin , Texas, Cinnabon, Connecticut, U.S

Reuters reported on Tuesday on a so-called earn-out agreement that was key to Roark clinching a deal for Subway. Roark prevailed over a rival bidding group led by buyout firms TDR Capital and Sycamore Partners, whose final offer was for $8.75 billion including an earn-out, and $8.25 billion without, the sources said. Roark took the view that the restaurant market is too fragmented for the deal to raise competition concerns, the sources added. Roark and Subway, which announced the deal on Thursday, declined to comment on the terms. Roark currently controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings.

Persons: Roark, DeLuca, Buck, John's, Jimmy John’s, Jimmy John's, Neil Saunders, Peter Buck, Fred DeLuca, JPMorgan Chase, Sullivan, Cromwell, Weiss, Garrison, Roark Capital, Morgan Stanley, Anirban Sen, Abigail Summerville, Deborah Sophia, Greg Roumeliotis, Marguerita Choy Organizations: Roark, Reuters, Subway, TDR Capital, Sycamore Partners, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, JPMorgan, Cromwell LLP, Thomson Locations: Connecticut, U.S, Bridgeport , Connecticut, The Milford , Connecticut, Rifkind, Wharton, New York, Bengaluru

☆ Subway is being sold to a massive private-equity firm, finally moving the sandwich chain away from family ownership after nearly 60 years
▼ + stars: | 2023-08-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Roark's brands include Arby's, Dunkin', Buffalo Wild Wings, and rival sub store Jimmy John's. Subway is in the midst of a huge rebrand after suffering from a sales slump. Through Inspire Brands, it also owns another sub chain — Jimmy John's — which has more than 2,600 stores. AdvertisementAdvertisementSince the first Subway store opened in 1965, the company has been owned by its two founders, Fred DeLuca and Peter Buck, and their families. The sandwich chain announced last month that it had achieved 10 consecutive quarters of positive sales, including recording its highest weekly average unit volume in North America in the second quarter of 2023.

Persons: Dunkin, Jimmy John's, John Chidsey, Fred DeLuca, Peter Buck, It's Organizations: Roark, Arby's, Buffalo Wild Wings, Service, Roark Capital, Subway, Inspire Brands Locations: Wall, Silicon, North America

☆ Subway nears $9.6 bln sale to Arby's owner Roark - WSJ
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 21 (Reuters) - Roark Capital, which owns restaurants Arby's and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about $9.6 billion, the Wall Street Journal reported on Monday. Another group led by Roark Capital was in the running, the sources had added. It has invested in Inspire Brands, which is the owner of Arby's, Baskin-Robbins, Buffalo Wild Wings and Dunkin' among others. Roark Capital did not immediately respond to a Reuters request for comment.

Persons: Thomas White, Roark Capital, Roark, Dunkin, Fred DeLuca, Peter Buck, Ananya Mariam Rajesh, Deborah Sophia, Shinjini Organizations: REUTERS, Buffalo Wild Wings, Wall Street, Reuters, TDR Capital, Sycamore Partners, Subway, Roark Capital, Inspire Brands, Baskin, Robbins, Thomson Locations: Sycamore, Bridgeport , Connecticut, North America, Bengaluru

☆ Arby's employee who died after she was accidentally locked inside walk-in freezer 'beat her hands bloody' trying to get out, lawsuit says
▼ + stars: | 2023-05-28 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

The children of a woman who died in a Louisiana Arby's earlier this month are suing for negligence. The lawsuit claims Nguyet Le died because a broken freezer latch caused her to be locked inside while alone in the restaurant. The suit also alleges multiple managers were aware the latch had been broken for at least nine months before Le's death. Employees allegedly used a screwdriver to get the door open, and often propped the door open with a box so the freezer, kept at -10 degrees Fahrenheit or below per company policy, didn't close all the way, according to court documents. Le's children are seeking at least $1 million in damages, claiming Arby's and the franchisees were negligent in failing to inspect and repair the broken freezer latch for at least nine months.

☆ The body of an Arby's employee was found in a walk-in freezer at a Louisiana location — and police think it may have been an accident
▼ + stars: | 2023-05-12 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

A woman's body was found in a freezer at an Arby's in Louisiana Thursday evening. The woman who died was an employee at the Arby's restaurant in New Iberia, and her body was found by another employee, according to the spokesperson. Leland Laseter told told News 15. Hughes confirmed that the New Iberia Police Department would release an announcement with more information on the investigation later on Friday. The Arby's where the woman's body was found is located at 1120 E. Admiral Doyle Drive in New Iberia's Lagniappe Village shopping center, Hughes confirmed.

☆ I was the CEO of Arby's. I'm auctioning off my Texas mansion with a lowly $2.5 million starting bid because my wife and I are getting older and neither of us wants to live here alone.
▼ + stars: | 2023-03-29 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Businessman Len Roberts, who served as CEO of Arby's and RadioShack, is auctioning his Texas estate. The 11,792-square-foot home in Fort Worth was built for hosting fundraisers and galas. Bidding starts on April 24 , with the starting bid at $2.5 million and a 10% buyer's premium. Even though the house is in Texas, it features traces of our early lives in ChicagoMy wife really built this home. Interluxe AuctionsWe orchestrated some of the biggest galas and charity events in Fort Worth, Texas, in this beautiful home.

The companies are in talks with financial advisors to explore a sale of Selangor, Malaysia-based Ramsay Sime Darby Health Care to strategic investors, three sources said. "Sime Darby Berhad continues to review strategic growth options for our healthcare segment," a company spokesperson told Reuters in an emailed statement. Ramsay Sime Darby did not immediately respond to comment. IHH, one of Asia's biggest private hospital operators, had submitted an indicative proposal in March 2022 to buy Ramsay Sime Darby Healthcare. Ramsay Sime Darby was established in 2013 via an equal joint venture of Ramsay and Sime Darby to expand their healthcare business in Southeast Asia.

☆ The year of the restaurant robot: Why chains are investing in automation and what it means for workers
▼ + stars: | 2022-12-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

This year brought a flurry of automation announcements in the restaurant industry as operators scrambled to find solutions to a shrinking workforce and climbing wages. Three-quarters of restaurant operators are facing staffing shortages that keep them from operating at full capacity, according to the National Restaurant Association. Many restaurant operators hiked wages to attract workers, but that pressured profits at a time when food costs were also climbing. "Automation is one word, and a lot of people go right to robotics and a robot flipping burgers or making fries. The labor questionAutomation often faces pushback from workers and labor advocates, who see it as a way for employers to eliminate jobs.

☆ Restaurants open on Christmas Day 2022: McDonald's, IHOP, Denny's, and more
▼ + stars: | 2022-12-23 | by ( Nancy Luna | ) www.businessinsider.com time to read: +8 min

Benihana: Open Christmas Day and Christmas Eve. Bar Louie: Open Christmas Day and Christmas Eve. May be open Christmas Day, depending on location or franchiseGolden Corral: Some locations will be open Christmas Eve and Christmas Day. Closed Christmas Day, but open Christmas EveTaco Bell: Restaurants are open on Christmas Eve. Friendly's: Open on Christmas Eve until 6 p.m.In-N-Out: Open from 10:30 a.m. to 11 p.m. on Christmas Eve.

☆ 29 foodtech power players of 2022 revolutionizing how restaurants operate and deliver amid a looming recession
▼ + stars: | 2022-11-29 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Rising labor and commodity costs put a squeeze on restaurants in 2022. Insider's 2022 foodtech power players are helping restaurants elevate their digital business. But sunny skies turned stormy in 2022 as the restaurant industry faced headwinds tied to market volatility, a labor shortage, and record inflation. Ghost kitchens, virtual brands, and online-ordering startups are now morphing to survive and stay relevant post-lockdown. Insider's 2022 list spotlights foodtech leaders who are helping restaurants take their digital business to the next level as they face a looming recession.

☆ This startup wants to democratize electric-vehicle ownership by bringing charging stations to fast-food restaurants — starting with a Taco Bell in California
▼ + stars: | 2022-10-18 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

The San Diego startup is installing public charging stations at fast-food chains such as Taco Bell. It says the fast chargers at a California Taco Bell can provide a 100-mile charge in 20 minutes. Roughly 120 California Taco Bell restaurants owned by Diversified are set to add EV stations in the coming months. Tosh Dutt, the CEO of ChargeNet, said he's carving a niche for his 2-year-old startup by placing stations at fast-food restaurants. Of the 47,666 public EV stations in the US, only about 6,500 are fast chargers, according to the Department of Energy.

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