Foodservice Equipment & Supplies

OCT 2018

Foodservice Equipment & Supplies magazines is an industry resource connecting foodservice operators, equipment and supplies manufacturers and dealers, and facility design consultants.

Issue link: https://fesmag.epubxp.com/i/1034555

Contents of this Issue

Navigation

Page 16 of 99

OCTOBER 2018 • FOODSERVICE EQUIPMENT & SUPPLIES • 15 ARC Group, owner of Dick's Wings & Grill restaurant chain, will acquire Fat Patty's, a four-unit concept with locations in West Virginia and Kentucky. The $12.3 million deal is expected to close August 31. Walk-in cooler and freezer manu- facturer Arctic Industries has acquired Duracold Refrigeration Manufacturing Company. Duracold is a Los Angeles- based walk-in cooler and freezer manufacturer and this acquisition expands Arctic's geographic reach into the Western U.S. and gives the company a bicoastal manufacturing presence. Harold Monsher, president of Duracold, will remain with the business to ensure a successful transition. Cava Group (CAVA) has reached an agreement to acquire Zoës Kitchen, a fast-casual restaurant concept with 261 restaurants. Helping provide financing for the deal will be Act III Holdings, an investment organization led by Ron Shaich, founder, chairman, and former CEO of Panera Bread, and funds advised by The Invus Group with participa- tion from existing investors SWaN & Legend Venture Partners and Revolution Growth, per a release announcing the transaction. Once the deal is complete, Zoës Kitchen will become privately held. After closing, Brett Schulman, CAVA's CEO, will serve in the same capacity for the combined company. The existing leadership teams at Zoës Kitchen and CAVA are expected to remain in place. In addition, Shaich will serve as chairman of the combined company. Great Lakes West, a Michigan- based foodservice equipment and supplies dealer, has acquired certain assets of HMAK, a Pennsylvania-based dealer. HMAK will continue to oper- ate under the same name, will stay in the Pittsburgh area, and all the HMAK employees are expected to remain with the company, per a release announcing the deal. Adam Cohen will continue to lead HMAK, now operating as a division of Great Lakes West, in the Pittsburgh market and beyond. Sales of foodservice equipment and supplies increased 1.8 percent in the second quarter of 2018, per the MAFSI Business Barometer. First quarter sales increased 1.5 percent. MAFSI members project a 2.2 percent sales increase for the third quarter of 2018. Commercial refrigeration manufac- turer Master-Bilt added CLV Marketing to its network of independent sales and marketing representatives. CLV Market- ing represents Master-Bilt in metro New York and Northern New Jersey. CLV Marketing is a manufacturers' rep firm based in Farmingdale, N.Y. New York-based Sapphire Manu- facturing added the Pinnacle Group to its network of independent manufactur- ers' reps. Bridgeton, Mo.-based Pinnacle Group will represent Sapphire in Iowa, Kansas, Missouri, Nebraska and Illinois (South of I-74 including Springfield and Champaign). This territory is also known as MAFSI Region 16. The Vollrath Company has ac- quired Carlson Products, based in Maize, Kan. Carlson Products manufactures bakeware products such as pizza pans, stacking pans, sheet pans, grill pans and panini pans. The company also designs and manufactures standard and custom components for a variety of other industries including lawn and garden, automotive and commercial foodservice. The Carlson Products facil- ity will stay operational, which makes it the 10th manufacturing facility for The Vollrath Company and 8th in the U.S. The Wendy's Company sold its stake of Inspire Brands, 12.3 percent, back to Inspire Brands for $450 million. Inspire Brands is the parent company of Arby's, Buffalo Wild Wings and R Taco. InBrief

Articles in this issue

Archives of this issue

view archives of Foodservice Equipment & Supplies - OCT 2018