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finance

Financing

Former Marco’s Pizza executives create a restaurant ‘farm system’

Pivotal Growth Partners adds Vitality Bowls and Conrad’s Grill to its portfolio of brands it seeks to help reach their next level of growth.

Financing

Luckin Coffee shares surge on its IPO

The fast-growing Chinese chain raises more than $570 million in its U.S. offering.

The company’s board also backed CEO Lenny Comma and said it plans to refinance its debt and buy back shares.

The company said same-store sales increased 7.7% as all-you-can-play packages boosted sales.

The chain is reportedly looking to sell a stake in the business, suggesting the chain may be ready to speed its growth, says RB’s The Bottom Line.

The owner of Landry’s has formed a second public shell company and is raising $275 million to fund a deal.

The company closed an additional 15 locations and is up for sale, blaming overly aggressive growth, cost cuts and a stock buyback for its poor finances.

The company said its U.S. same-store sales rose 4.5% in the first quarter, but traffic is still down.

Third-party services’ growth hit the pizza chain’s same-store sales, but the company believes its unit development strategy will win in the long run.

The plant-based burger maker plans to raise more than $200 million in an initial public offering. Its filing details the market’s massive growth.