SOURCE: F & D Reports

July 13, 2007 09:30 ET

F & D Reports -- Foodservice Sector Newsletter

GREAT NECK, NY--(Marketwire - July 13, 2007) -

WE'RE OUTTA HERE!... Last week, Triarc Companies' (New York, NY) recently departed chairman and CEO, Nelson Peltz, said the Company would be a "natural, strategic buyer" for Wendy's, which announced nearly two weeks ago that a special committee of its board of directors is exploring a possible sale of the chain. However, Peltz, who announced plans to resign in May, complained that management was blocking his efforts to pursue such a transaction. Peltz is not alone in his desire to leave; president and COO Peter May is resigning as well. Both men remain members of Triarc's board of directors. Peltz also remains CEO of Trian Fund, which already holds a 9.8% stake in Wendy's.

Roland Smith, currently CEO of the Company's Arby's chain, was promoted to CEO.

[Triarc Companies owns the Arby's restaurant chain of more than 3,000 fast-food restaurants and operates 1,061 Arby's locations itself. Wendy's International has over 6,670 locations worldwide.]


THE SKIPPER WILL SOON BE LOST AT SEA... As many as 23 Skipper's Seafood 'n Chowder House restaurants closed at the end of June as part of Chapter 11 bankruptcy proceedings filed in December 2006 by parent company Skipper's (SeaTac, WA). At least 12 units were acquired in deals that closed June 30. Newcastle Peak bought 10 of the restaurants for $425,000, Doug Waters bought one location in The Dalles, OR and Carol Chin and John Bang bought a unit in Puyallup, WA.

The Company continues to operate 15 restaurants in Washington State, but is expected to sell those units before the end of the month. A buyer is also expected to purchase the brand's licensing and franchising rights. Four franchise locations are not expected to be impacted by the proceedings.

Skipper's attorney said the corporation will dissolve after all sales are completed.

[Skipper's operated 59 Skipper's Seafood 'n Chowder House restaurants in five Western states when it filed for bankruptcy last year.]


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SUPPLYING GUESTS ALL AROUND THE WORLD... Personal care amenities and hotel operating supplies company, Guest Supply, a subsidiary of SYSCO (Houston, TX), acquired Austin Tatum (Hong Kong), a personal care amenity company. SYSCO's chairman and CEO, Richard Schnieders, said the acquisition is an important step for Guest Supply's and SYSCO's expansion into the international market. Terms were not disclosed.

[Austin Tatum creates its own amenity designs and also distributes a variety of name brand personal care products. It sells to hotels in Australia, China, Dubai, Hong Kong, Korea, Japan, Malaysia and Singapore.]


JUST A LITTLE TASTE... A handful of McDonald's (Oak Brook, IL) U.S. locations are following the lead of overseas stores by adding coffee-shop style setups known as McCafés to existing restaurants. The format, which offers the same selection as a traditional McDonald's restaurant with a separate counter for McCafé coffee and pastries, is common around the world. It does seem as though we will see many more McCafés stateside; however, a McDonald's spokesman said McCafés in the U.S. are a very small test and the Company has no immediate plans to roll out the concept beyond the locations that they are already in. The U.S. McCafés are all owned by franchisees.

[There are 19 McCafés operating in the U.S. and a total of 1,086 worldwide, with 210 more expected to open this year, mostly in Australia and Germany.]


NO QUESTION WHAT TYPE OF FOOD THEY SELL... Made In Japan Teriyaki Experience (Oakville, ON, Canada) plans to open 600 U.S. restaurants over the next five years. The Company already has contracts with franchisees for more than 160 restaurants and is currently seeking additional franchisees for the concept with targets in Georgia, Central Florida, New York, California and Nebraska. The chain's first U.S. location opened in May in Atlanta, GA. The restaurants feature a health-conscious, Asian inspired menu.

[Made In Japan Teriyaki Experience was founded in 1986 and has 106 locations internationally.]

NOW COMPLETE WITH IN-STORE ENTERTAINMENT... Jack in the Box (San Diego, CA) is entering a partnership with a specialized media company to feature in-restaurant entertainment in its units. The Company has already installed high-definition TVs to show news and entertainment in a handful of its restaurants. The system will be included in new stores and installed in older stores as they are re-imaged over the next four to five years. The content to be shown on the TVs is provided by RippleTV, which compiles material from ESPN, E! Entertainment, Yahoo, CBS and other sources.

[Jack in the Box has approximately 2,000 units.]


                     F&D Reports - Foodservice Sector
     Please note: This is an abbreviated version of our weekly Foodservice
     Sector Newsletter. To view the remaining eight pages or to request a
     free trial, please contact us by emailing or call
     (800) 789-0123 ext 102.  F&D Reports also offers comprehensive reports
     on over 100 private/public foodservice companies, including some of
     the top industry players seen below.

     Private Company Coverage            Public Company Coverage

     AGAR Supply                         ARAMARK Corporation
     Cheney Brothers                     Brinker International
     Dairyland USA                       Bunzl Distribution USA
     Dot Foods                           Burger King Holdings.
     Eby-Brown Company                   CKE Restaurants
     Farner-Bocken Company               Compass Group PLC
     Institutional Jobbers               Darden Restaurants, Inc.
     Jetro Cash & Carry                  Denny's Corporation
     Maines Paper & Food Service         Friendly Ice Cream Corp.
     McLane Company                      Jack in the Box
     Meadowbrook Meat Company            Performance Food Group
     Perkins Paper, Inc.                 Sodexho Alliance, SA
     Reinhart Foodservice                SYSCO Corporation
     S. Abraham & Sons                   Triarc Companies
     Shamrock Foods Company              U.S. Foodservice
     Tony's Fine Foods                   The Wornick Company
     Unipro Foodservice                  Yum! Brands

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F&D Reports, a division of Information Clearinghouse, Inc., is a comprehensive commercial credit consulting firm, which provides in-depth analysis of public and private retail companies operating in several industry segments. We have recently expanded our coverage on the highly volatile, regionally dispersed, and often privately held Foodservice Segment, an area which has traditionally lacked adequate coverage. Our management team has over 150 years of combined hands-on practical management experience and our industry expert analyst team is second to none.

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