🍟09/10/2024 – Incoming: New Leadership, Major Expansions, and Fresh Partnerships

1) Papa Johns Names Kevin Vasconi as Chief Digital Officer

Prior to being a part ofThe Wendy’s Company, Mr. Vasconi spent eight years at Domino’s as EVP and Chief Information Officer, where he was responsible for developing and growing its domestic and international ecommerce businesses. 

He has a 35+ year career in technology, including 12 years at Ford Motor Company, and CIO and CTO roles at Covisint LLC, Polk North America, Polk Global Automotive, and Stanley Black & Decker.

2) Red Lobster Emerging From Chapter 11 Bankruptcy

Now 56 years old, Orlando-based Red Lobster will continue to operate as an independent company after the acquisition is finalized. The chain will welcome a new CEO, Damola Adamolekun, former chief executive of the P.F. Chang’s restaurant franchise

Fortress chose Adamolekun to head RL Investor Holdings, the entity that was created for the Red Lobster acquisition.

3) Chipotle and Spirit Halloween Team Up For Costume Collection

“Our popular Halloween tradition, Boorito, began with a burrito-themed costume contest and now we’re taking it to the next level with the launch of our first-ever costume collection in collaboration with Spirit Halloween,” said Chris Brandt, Chief Brand Officer at Chipotle. “In addition to these bodysuits, we will be treating fans to a scarily great offer next month.”


RNR Tire Express Hires Aurea Salaberrios as National Marketing Director: RNR Tire Express (RNR) has announced the addition of Aurea Salaberrios to the company’s leadership team as the National Marketing Director.

An experienced marketing professional in the automotive space, Aurea comes to RNR following four years as the sales and marketing director of an automotive franchise. Prior to her time in the franchising space, she worked in the marketing department for a mega church as well as Safelite Auto Glass. Her career in the auto industry began in staffing for automotive manufacturing doing sales and marketing. With prior experience in the automotive marketing space, Salaberrios is able to immediately join the team and contribute to the growth of the brand.

Hand & Stone Appoints Sherrill Kaplan as its First Chief Revenue Officer: Hand & Stone Massage and Facial Spa announced the addition of Sherrill Kaplan to its executive leadership team as the brand’s first-ever Chief Revenue Officer. With extensive experience driving revenue growth and propelling digital transformation across multiple industries, Kaplan will be responsible for enhancing Hand & Stone’s brand and customer experience, implementing strategies to drive significant systemwide sales growth.

“Kaplan’s deep expertise in digital marketing, loyalty programs, and data-driven strategies will be instrumental as we continue expanding our brand and elevating the customer experience across all touch points,” said John Teza, CEO of Hand & Stone. “With her innovative approach and proven track record, we’re confident she will drive meaningful growth and bring fresh perspectives to our team. We are thrilled to welcome her to the Hand & Stone family and look forward to achieving great success together.”

Build-A-Bear Scores New Partnership Deal with Super Bowl LVIII Champion Kansas City Chiefs: Build-A-Bear Workshop, Inc. announced today an exclusive multi-year deal with the back-to-back Super Bowl Champion Kansas City Chiefs. Build-A-Bear will be the presenting partner of both the popular team mascot, “KC Wolf,” and the Chiefs digital Fan Cam experience focused on game attendees tagging themselves in a high-resolution, full-stadium picture as well as locating a Build-A-Bear in the stands during each home game for the chance to win a special prize. This collaBEARation between the two Missouri-based organizations also makes Build-A-Bear the “official bear” brand of the storied team.

“We believe this multi-dimensional relationship underscores the winning formula that has been created between the two organizations, and adding the Kansas City Chiefs, our corporate “home team,” to the roster is clearly a touchdown,” added Chris Hurt, Chief Operating Officer of Build-A-Bear.

Port of Subs® Adds to California Footprint with New 30-Store Deal to Expand Throughout Sacramento: Port of Subs®, the iconic 50-year legacy sandwich brand is dominating the QSR industry with record-breaking growth driven by regional developers and multi-unit operators.  The latest milestone in the brand’s expansion comes with the announcement of a 30-store development agreement with seasoned entrepreneurs Michelle and Robert Lucas, who will further solidify Port of Subs’ footprint in California by introducing new locations throughout the greater Sacramento region.

Port of Subs has long been recognized across the West Coast as a beloved neighborhood sandwich shop, known for bringing communities together over delicious high-quality food. With an established presence in cities like Rocklin and Rancho Cordova, this new agreement will see the brand extend its reach into key areas such as Auburn, Roseville, and Elk Grove. The first of these new locations is slated to open in early 2025.

The Wendy’s Company Appoints Arthur Winkleblack Chairman of the Board: The Wendy’s Company today announced that its Board of Directors has appointed Arthur B. Winkleblack as non-executive Chairman of the Board. He succeeds Nelson Peltz, who has been named Chairman Emeritus in recognition of his long-time leadership, counsel, guidance and contributions to the Board and the Company.

Winkleblack has served as Lead Independent Director since October 2023 and has been a member of the Board since 2016. He also serves as Chairman of the Nominating and Corporate Governance Committee and as a member of the Audit Committee, where he is a past Chairman. Mr. Winkleblack has also been appointed as Chairman of the Executive Committee.

Mr Gatti’s Pizza Announces Key Executive Promotions: Mr Gatti’s Pizza announced today the promotions of two key executives: Travis Smith has been promoted to executive vice president and Ryan Morris has been promoted to senior vice president of real estate and general counsel.

“Travis and Ryan have demonstrated incredible dedication and played key roles in our brand’s success,” said Jim Philips, CEO of Mr Gatti’s Pizza. “With Travis focused on increasing the brand’s presence and revenue and Ryan leading our Walmart project, we know we are in great hands. These promotions are a testament to our trust in their abilities to help build a strong future for Mr Gatti’s Pizza.”

SkyRun Vacation Rentals Names Cord Thomas President and Chief Operating Officer: SkyRun Vacation Rentals (SkyRun) today announced that Cord Thomas has been appointed President and Chief Operating Officer. 

Krause will continue to serve the franchise as Chairman and shareholder. A transition he made as a means to continue providing high-level strategic support to the brand, while making room for new leadership to be able to focus on operational efficiencies and business growth.

Thomas comes to SkyRun after 16 years spent in franchising, where he served as President and Founding Partner for Elevation Burger, which sold back in 2019. More recently, he was the Chief Executive Officer for an award-winning Neapolitan pizzeria, where he drove businesses development, oversaw real estate and finance strategies, and grew system-wide profitability.

Nothing Bundt Cakes® Names New Chief Operations Officer: Nothing Bundt Cakes  continues to build out its senior leadership team with the appointment of new Chief Operations Officer Wanda Williams.

Williams joins Nothing Bundt Cakes from Yum! Brands, where she served as head of global franchising. In that role, she led overall franchise system management and franchisee relations across four major brands, working with over 1,500 franchisees. Prior to that, she was vice president of operations at Pizza Hut, responsible for enhancing the restaurant and delivery experience through innovative technology and contactless operating procedures.

At Nothing Bundt Cakes, Williams will oversee operations, team development and communications for bakeries operating in the U.S. and Canada.

Golden Corral® Signs Multi-Unit Agreement With Existing Franchisee to Continue Puerto Rico Expansion: Golden Corral, America’s largest all-you-can-eat buffet chain, announced that it will continue to expand its presence in Puerto Rico. Known for offering unbeatable value, a family-friendly atmosphere, and exceptional hospitality, Golden Corral has signed an area development agreement with existing franchise owner Justin Tirri. Tirri will expand his increase access to the brand with the opening of two locations in the Mayagüez and Hatillo markets.

“When I joined Golden Corral and opened my first location nearly four years ago in Caguas, not only was I the first to open a Golden Corral restaurant in Puerto Rico, but I was also the first to open a location outside of continental United States,” said Tirri. “It is an honor to be able to continue the brand’s expansion and bring more locations to the region. Given the popularity of my first locations, I look forward to providing the same value driven, family-friendly dining experience, which includes a delicious variety of food options for guests in these additional locations.” 

Papa Johns Announces PepsiCo as Its Beverage Partner in North America: Today, Papa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns”) announced its selection of PepsiCo as its exclusive beverage supplier for restaurants in North America through a 10-year contract renewal. The extension of this partnership showcases the brand’s ongoing commitment to deliver exceptional value to its customers and franchise partners by offering quality products that customers expect.

The partnership will also underscore the brand’s strategy by supporting Papa Johns marketing efforts through additional investment from Pepsi, while also encouraging North American development expansion through incentives to drive new store growth.

Judge Approves Sale of Troubled Red Lobster: Purchase by Investor Groups Will End Seafood Restaurant Brand’s Bankruptcy 

Following months of Red Lobster restaurant closures, the seafood chain is soon expected to emerge from Chapter 11 bankruptcy. On Thursday a bankruptcy judge approved Red Lobster’s reorganization plan, which includes acquisition by a Fortress Investment Group-led coalition. Red Lobster had filed for bankruptcy in May and should exit by the end of this month, according to an Associated Press report. 

Red Lobster had posted a $76 million net loss in 2023 and blamed its Chapter 11 bankruptcy on high inflation, unsustainable rents, and poor management decisions such as an endless shrimp promotion that led to $11 million in losses, Reuters reported. Chapter 11 commercial bankruptcy filings, which allow a company to reorganize and restructure its debts to pay them off over time, increased 70% in June 2024 over June 2023 in the United States, the American Bankruptcy Institute recently reported. The institute’s raw numbers show 987 filings in June of this year and 582 the previous June. 

Chick-fil-A plans to double its Michigan presence by 2028: While many concepts, like McDonald’s and Portillo’s, are targeting the fast-growing Southwest and Southeast regions for growth, Chick-fil-A is heading in a different direction, this week announcing plans to open 25 to 30 new restaurants in Michigan by 2028. These new restaurants are expected to add more than 2,500 jobs across the Mitten State.

Chick-fil-A made its debut in Michigan in 2015 and has grown steadily since, now counting 28 locations in the state. Markets that will soon see more of the brand include Detroit/Ann Arbor, Lansing/Jackson, Flint/Saginaw, and Benton Harbor

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