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The Simple Greek Acquired by WOWorks, Parent Company of Saladworks, Garbanzo Mediterranean Fresh and Frutta Bowls restaurantnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from restaurantnews.com Daily Mail and Mail on Sunday newspapers.
Wing Zone, a fast casual concept with 31 locations across the U.S. offering made-to-order chicken wings. The deal was announced early January and terms were not disclosed. The merger creates a company that attained more than $100 million in sales in 2020 in 150 markets worldwide, according to a press release. As part of the deal, Capriottiâs CEO Ashley Morris will become head of Wing Zone, which launched in 1993. Sandwich chain Capriottiâs has 115 restaurants and opened its first corporate ghost kitchens in 2020. Both brands plan to boost off-premises business in 2021. FAT Brands merged with its largest shareholder, Fog Cutter Capital, in a corporate restructuring that removes restrictions and allows the parent of ....
The restaurant industry has lost 110,000 restaurants, according to the National Restaurant Association. And, based on a Cowen analysis of the past three recessions, 90% of closures have occurred among independent operators who were ill-prepared for a prolonged pandemic that required full-service establishments to depend on off-premise sales to survive. But it hasn t been bad news for all of the industry. The purging of restaurants is expected to leave $39 billion in sales up for grabs, according to Cowen. That s created an opportunity for well-financed multi-unit operators and private-equity backed restaurant companies to strike. These big restaurant players are seizing a moment in a crisis to increase market share by buying solid brands found flatfooted during the pandemic. ....
The healthy fast casual brands have a shared mindset valuing personalization, customization, self-expression and connection. The parent company of Saladworks has acquired Garbanzo Mediterranean Fresh and Frutta Bowls. These three brands will share a common core DNA under the new holding company WOWorks, which exists not only to sate appetites but to serve as healthy, nutritious and flavorful food. Garbanzo Mediterranean Fresh is a fast-casual staple across the United States with its authentic, nutrient-rich dishes inspired by traditional, but not bound by it. Every order is customized to guest s liking, with choices from top-quality meats and plant-based proteins. Frutta Bowls is a fast-casual menu that is made fresh-to-order with no sweeteners, no juices and no fillers added. ....