Foodservice operators and distributors need to have facts at their fingertips every day to compete in a crowded marketplace where business requires knowing consumer trends as well how much that will cost. Foodservice members of the Food Institute will be able to:
Retail sales of chicken thighs jumped nine-fold in the past decade, and restaurants are buying more dark meat also. Chipotle Mexican Grill Inc. bought more than 115 million pounds of chicken in 2018, 600,000 lbs. more than it used in 2016, all of it dark meat. Demand is so high for thighs that prices have eclipsed the traditionally more expensive breasts. As of July 10, jumbo boneless, skinless chicken breasts were $1.13 a pound, and the equivalent boneless, skinless thighs were $1.24, reported Bloomberg. Full Story
Onex and its affiliates will sell Jack's Family Restaurants to an undisclosed buyer. The group acquired Jack's for $234 million in 2015 and at the conclusion of the transaction will have received about $835 million. Full Story
Vintage Capital Management made an unsolicited offer to acquire all of Red Robin's outstanding shares. Red Robin will review the conditional proposal and determine the best course of action for shareholders. Full Story
Ares Management will acquire Cooper's Hawk Winery & Restaurant chain for more than $700 million. Cooper's Hawk has 35 locations in 10 states, reported Restaurant Business. Full Story
Salsarita's Mexican Grill will open two locations in Buffalo, NY, reported Buffalo Business First. Full Storyread more
As you shop this summer for groceries, you likely will interact with one or more of the 362,000 young people who are learning important job skills while earning money at our members’ stores. For many of these young employees, this first job opportunity will serve as a steppingstone for a future career in grocery, retail, sales – or even a different industry – but those who have the chance to take advantage of these...
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