Quick serves could be poised to step up their franchising efforts as soon as the credit market thaws and while available real estate remains cheap. Some experts say that minority-franchisee recruitment will be a particular area of focus, as franchisors pursue the value minorities bring to customer relations, new product innovation, and new markets.
After an abundance of successful business ventures, David Lobel founded Sentinel Capital Partners, a private equity firm that specializes in buying and building middle-market companies in the U.S. and Canada. Along with other prosperous investments, Lobel and senior partner and cofounder John McCormack have made their mark in the quick-serve industry. With past investments touching brands like Taco Bell and Church’s Chicken, Sentinel and portfolio company Southern California Pizza own 224 Pizza Hut restaurants in the Los Angeles area—the third-largest franchisee in the Pizza Hut system.
Church’s Chicken launched a new portable value product for lunch, dinner, and snacking yesterday – its new Chicken Mini Sandwich.
“Today more than ever, our customers are looking for value without sacrificing great quality products,” says Marc Butler, senior vice president of marketing for Church’s Chicken. “We knew after testing this sandwich in local markets, this product had all the right components to meet the needs of our customers.”
Friendly Ice Cream Corporation announced today that James M. Parrish, a seasoned restaurant executive who most recently served as COOof Church’s Chicken, has joined the company as executive vice president company operations.
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Reporting by Blair Chancey, Sam Oches, Daniel P. Smith, Robin Van Tan, Barney Wolf & Lori Zanteson
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Becoming the decade’s biggest restaurant buyout, No. 3 burger chain Burger King Corp. was acquired by 3G Capital, a New York firm backed by Brazilian investors, for $3.3 billion in September. —BC
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