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Customers stop at a Burger King for lunch this week in Chicago. (Scott Olson/Getty Images)
Burger King Holdings Inc. has been in talks with private-equity firms in recent weeks about a possible sale of the second-largest hamburger chain, people familiar with the matter said.
The status of the talks is unclear but one interested firm was 3i Group PLC, a British private-equity firm, these people said. It is uncertain whether these discussions will result in a sale. Get the full story »
In 2006, Madison Dearborn Partners LLC Chairman John Canning told the Tribune that he’d love to see his son, then a chef in Boston, return to Chicago to start his own business.
The private equity executive has gotten his wish.
Tim Canning, 34, has opened Lemon Tree Grocer about 100 yards from the Metra stop in Downers Grove. The high-end market has more than 40 full- and part-time workers, including a butcher that can work his way through a whole cattle and explain cuts of beef. It’s the first business that the younger Canning has started. Get the full story »
Leo’s Coney Island, the Detroit hot dog institution that opened its first Chicago location in February, may open a Leo’s Express outpost in the Loop.
“While it is still in the very early stages, we have discussed and brainstormed the idea of expanding our concept into the Loop with a smaller scaled-down concept, similar to our takeout section at our first location on Southport,” Leo’s said in an e-mailed statement. “We feel that this type of layout may be a great fit for the downtown market rather than a full-scale Leo’s dining room.”
Leo’s didn’t provide further details on timing, but said they’ve been “thrilled” with the Chicago response to its restaurant so far. Get the full story »
Mayor Daley announced today that the city will look into privatizing the city’s recycling program and lakefront festivals — potentially including Taste of Chicago — to close a $655 million budget hole.
A Northlake woman sued McDonald’s in Cook County Circuit Court alleging that her daughter was seriously burned in 2009 when a hot chocolate she ordered from the fast-food giant spilled and seriously burned her leg.
Vicki LaRocco bought the hot chocolate for her daughter on April 28, 2009, at a McDonald’s drive-through window in Schiller Park, according to the lawsuit. She said the lid of the cup was improperly secured, however, and the beverage spilled onto LaRocco’s daughter, causing “severe pain and scarring,” the suit states. Get the full story>>
McDonald’s has named Steve Easterbrook as its global chief brand officer. Easterbrook takes the newly-created position September 1, after serving as president and chief executive of McDonald’s United Kingdom and president of Europe’s Northern division.
Easterbrook will be taking over the responsibilities of Mary Dillon, who vacated the role of global chief marketing officer in May, to become CEO of U.S. Cellular. In his role, he will report to president and chief operating officer Don Thompson. Get the full story »
An Extreme Pita interior. (Photo courtesy of Extreme Pita)
Extreme Pita, a Mediterranean fast-food chain concept for health-conscious consumers, opened its first Chicago-area location last week. The Orland Park store is one of 25 the chain has in the works for the region over the next five years.
“There is a real opportunity for us to carve out a niche market in Chicago,” Ray Zandi, vice president of U.S. development for Extreme Pita said, in a statement. “With a large population that has a sizeable segment tending toward health consciousness, Chicago is a natural fit for our vision of inspiring healthy living.”
Founded in 1997, the Mississauga, Ontario-based chain has more than 300 locations, many of them in Canada. But the chain is growing fast in the U.S. Darren Tristano, executive vice president of Chicago-based Technomic described Extreme Pita as a Subway restaurant, but with pita. Customers can watch their sandwiches being custom-made at the counter. Get the full story »
Home improvement retailer Lowe’s Cos. announced Friday the appointment of Raul Alvarez, former president and chief operating officer of McDonald’s Corp., to its board. He will serve on the board’s governance and audit committees. Get the full story »
Oak Brook-based McDonald’s Corp., the world’s largest restaurant chain, sold $29 million in yuan-denominated notes, becoming the first foreign non-financial company to sell yuan-denominated bonds in Hong Kong.
A Pei Wei restaurant in Orlando, Fla.
Pei Wei Asian Diner, a fast-casual take on P.F. Chang’s China Bistro, is opening in Chicago next week.
The pan-Asian concept, which calls itself “East of usual,” will open in Logan Square with two more area restaurants in the works in Mt. Prospect and in Willowbrook. But don’t expect the P.F. Chang’s horses at the front door. Get the full story »
Potbelly Sandwich Shop announced Monday that the first franchised Potbelly will open in El Paso, Texas, before the end of the year.
Zagat Survey, the popular restaurant and city guide, is jumping into the group-buying space with a new program that launches next month.
Zagat Exclusives, as the feature is called, will be introduced first in New York City and then “rapidly roll out” to cities such as Chicago, Los Angeles and San Francisco, the company said in a press release. Zagat did not provide a more specific time frame on when its Exclusives program would be available in Chicago.
Chicago is home to Groupon, the leading daily deal site that has inspired dozens of competitors. Zagat Exclusives is powered by DealOn, a New Jersey-based rival to Groupon. Other established names have added group-buying features to their core offerings, including online review site Yelp and restaurant reservation site OpenTable. Get the full story »
Wendy’s/Arby’s Group Inc. said Thursday that its second-quarter net income fell by more than 28 percent as sales fell and charges cut into results. The fast-food company also cut its full-year outlook, predicting that business at its hamburger chain would likely slow.
Improving conditions in the foodservice industry enabled The Middleby Corp. to report an approximate 28 percent earnings increase for its second quarter. Get the full story »
McDonald’s on Tuesday will add Angus snack wraps to its menu, marrying its Angus burger line with its popular snack wrap menu items.
Each of the three varieties to be introduced, deluxe, bacon and cheese and mushroom and swiss, will feature a third-pound beef patty wrapped in a soft flour tortilla. It is the first evolution of the Angus third-pound burger line that was added to the menu in 2009. Wraps were introduced in 2006.
McDonald’s discussed plans for the wrap at its second-quarter earnings call last month, underscoring that the sandwich itself has performed better than expectations. Chief operating officer Don Thompson acknowledged the possibility that the Angus wrap could eventually replace the Mac Snack Wrap. The Mac wrap nearly doubled snack wrap sales when it launched earlier this year. Sales have tapered off since. Thompson promised even more variety on the way for the wrap category. Get the full story »
