finance

Financing

Restaurant stocks take a hit

The Bottom Line: After a strong start to 2023, industry stocks have taken a hit more recently as Wall Street worries about the consumer and higher interest rates.

Financing

The Greene Turtle raises $6M from Bill Ackman's Table Management

The 36-unit sports bar chain will put the funding toward growing its sportsbook business and its new sister concept, Clark Crew BBQ.

At an Investment Summit, held on an actual summit in Southern California, restaurant investors shared advice for bringing in financial partners.

With financial backing from more than 30 industry veterans, Emerging Fund is hoping to offer fledgling companies a potent platform.

Krispy Kreme CEO Mike Tattersfield, who is stepping down from that position in January, will become the company’s board chairman. Former Starbucks CFO Patrick Grismer will become lead independent director.

Adding the steakhouse chain to its portfolio will unlock $35 million in synergies and savings per year for the company, $15 million more than expected.

The operations specialist will help Starboard’s push to shake things up at Bloomin’.

Starbucks, Crumbl Cookies and Jersey Mike’s were among the most prolific expanders in 2022, when growth was on the menu at a lot of brands.

Papa Murphy’s, Baskin-Robbins and Burger King are among the chains that closed the most net restaurants last year. But one big chain stands out.

Chairman Jim Craigie will be replaced by fellow member R. Michael Mohan, and Rohit Lal, CIO of trucking company Saia, is joining the board.

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