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finance

Financing

Mercato Partners raises another $100M for restaurant investments

 By Jonathan Maze on Jun. 02, 2021

The Salt Lake City firm’s Savory Fund has been investing in emerging concepts, including The Crack Shack.

Financing

After $800B in loans, PPP comes to an end

 By Peter Romeo on Jun. 01, 2021

The loan program stopped accepting applications on Monday, but is still processing requests in hand. It provided a lifeline to more than 450,000 restaurants and hotels.

Technology

Sharebite raises $15M to grow workplace food ordering platform

By Joe Guszkowski on May 25, 2021

The company facilitates group orders for large companies including WeWork, Coinbase and many top banks and law firms.

Technology

7shifts raises $21.5M in round led by Danny Meyer

By Joe Guszkowski on May 25, 2021

The workforce management platform has been adding restaurants at a record clip coming out of the pandemic.

Financing

McDonald’s chairman gets re-elected despite shareholder opposition

By Jonathan Maze on May 20, 2021

Enrique Hernandez and Richard Lenny, targeted for ouster by some investment groups, were reelected over complaints about the company’s handling of former CEO Steve Easterbrook’s firing.

Financing

SBA to stop accepting applications for direct restaurant aid on Monday

By Peter Romeo on May 19, 2021

Demand for the grants from the Restaurant Revitalization Fund is far surpassing its allocation, but some set-aside pools still have funds, the agency said.

Operations

Auntie Anne’s finally gives us drive-thru pretzels

By Jonathan Maze on May 17, 2021

The chain opened its first drive-thru location as a cobrand with sister chain Jamba as it moves more aggressively out of the mall.

Financing

Pandemic challenges behind them, restaurant chains push unit growth

By Jonathan Maze on May 17, 2021

More concepts are hoping they can translate improving sales to strong unit growth, either themselves or with franchisees.

Financing

Roark Capital buys Nothing Bundt Cakes

By Jonathan Maze on May 14, 2021

The private equity firm acquired the 390-unit bakery chain from Levine Leichtman Capital Partners.

Financing

Week One of the $29B Restaurant Revitalization Fund: $2B awarded

By Peter Romeo on May 11, 2021

Initial grants averaged $125,000, draining the fund by about 7%. Industry officials have voiced fears that the pool will run dry in a matter of weeks.

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