THE INTELLIGENCE
FDA releases new voluntary sodium reduction goals
This guidance calls for food manufacturers, chain restaurants, and foodservice operators to voluntarily reduce the amount of sodium in the food they provide. “The targets in the final guidance seek to decrease average sodium intake from approximately 3,400 milligrams (mg) to 3,000 mg per day, about a 12% reduction, over the next 2.5 years,” Janet Woodcock, MD the acting commissioner of the FDA and Susan T Mayne, Ph.D. the Director of the Center for Food Safety and Applied Nutrition (CFSAN) said in a release. Average consumption is nearly 50% higher than the DGA recommendation of 2,300 mg or less daily.
CHAIN NEWS
FAT Brands announced that it has acquired Fazoli’s, an Italian chain known for its pastas and sub sandwiches, for $130m from funds under management by Sentinel Capital Partners in December. This acquisition brings to FAT Brands the largest premium QSR Italian chain in the US and will be funded with cash from the issuance of new notes from the Company’s securitization facilities, according to a release from FAT Brands. The purchase of Fazoli’s will increase FAT Brands’ footprint to 2,300 franchised and corporate-owned stores around the world, bringing expected systemwide sales at FAT Brands to more than $2.1bn in 2022.
Denny’s announced plans for new equipment in its kitchens nationwide with the goal of enhancing efficiencies and elevating the dinner menu. The chain invested $65m in high-tech ovens, hot holding units and refrigeration as well as a new cloud- based technology platform. An additional $10m covered costs and installation for franchisees, execs said in an earnings call. As of Fall, 75% of Denny’s 1,647 restaurants had installed the new package.
CKE Restaurants Holdings combined the operations and supply chain divisions of its Hardee’s and Carl’s Jr. chains. John Dunion, chief operating officer, will oversee the combined unit.
Chicago-based Portillo’s, which operates 67 restaurants across the country, announced plans to raise $400m in an initial public stock offering, putting the market capitalization at more than $1.4bn.
BBQ Holdings, the parent company of Famous Dave’s bought out Fresh Acquisitions, which owns the five-unit Tahoe Joe’s steakhouse chain as well as several now-closed buffet chains, including Old Country Buffet, HomeTown Buffet and Ryan’s.
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THE AMERICAS
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