Industry News | August 28, 2007

Boston Market Has New Ownership and New Leadership

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Sun Capital Partners, Inc. today announced that one of its affiliates has acquired Boston Market Corporation, a non-core business unit of McDonald’s Corporation (NYSE:MCD). Terms of the acquisition were not disclosed.

Effective immediately, Richard K. "Rick" Arras is acting as president and CEO of Boston Market replacing Michael Andres who will be leaving the company to return to McDonald's Corporation. Mr. Arras most recently served as president, CEO, and partner of Wi-Tenn Restaurants, L.L.C., a franchise developer and operator of O'Charley's Restaurants. Prior to Wi-Tenn Restaurants, he has held a number of senior leadership roles including president and CEO of Shoney's Restaurants and president and COO of Cracker Barrel Old Country Stores (NASDAQ - GS:CRBL). He began his career as a management trainee with Perkins Family Restaurants in 1979, and from 1988 to 1998, he served as Perkins’ president and COO.