News
FOOD SERVICES | Staff Reporter, Hong Kong
view(s)

Global News Wrap Up: Arby's to buy Buffalo Wild Wings in $2.9b deal; Pizza Hut UK offers vegan cheese; Chipotle's CEO steps down

Here is a summary of the most interesting QSR news stories of the week from around the world.

Starbucks has unveiled its new holiday Red Cup which design features a white heart in the middle. According to Biz Journal's article, the white heart is a space for customers to write someone's name. Starbucks aims to encourage customers to "recognize those who fill their heart and embody goodness this holiday season" and share their dedicated cup on social media with the hashtag #GiveGood.

Domino's US has launched a baby registry powered by Gugu Guru. Starting November 29, 2017, parents-to-be can create their own registry at dominosbabyregistry.com. After creating and customizing their registry, parents can choose from a variety of gift card themes to use before and after their little ones' arrival. All gifts will be delivered to the parents-to-be as Domino's eGift cards. One lucky person will win free pizza for a year and several other pizza-themed gifts such as onesies, leggings, moccasins, and mugs from Gugu Guru by entering on their blog or via the widget displayed on the Gugu Guru Facebook page.

Pizza Hut is now adding vegan cheese to its UK offerings nationwide, following the success of the initial trial and the huge customer demand for the product. According to head of communication Gareth Hopley, the vegan will now be feature as a permanent fixture on Pizza Hur's menus.The Cheese is priced at £1 extra on any pizza.

According to Reuters, Chipotle founder and CEO Steve Ells has stepped down from the position after failing for two years to rescue the burrito chain’s sales and reputation from a string of food safety lapses. Investors welcomed the move, sending Chipotle shares up more than 5% to $301.99. Chipotle said it hired executive recruitment firm Spencer Stuart to find a “new leader with demonstrated turnaround expertise” to replace Ells, who will stay on as executive chairman once a new CEO is found.

Arby's Restaurant Group is set to acquire Buffalo Wild Wings in a $2.9 billion deal. Arby's and Buffalo Wild Wings announced that they have agreed to a merger through which Arby's will acquire the wing chain for $157 per share in cash, plus Buffalo Wild Wings' net debt. The per-share offering price marks a 38% premium to Buffalo Wild Wings' 30-day weighted average stock price as of November 13. Including the cost of the debt, the total transaction value is $2.9 billion. The deal is expected to close in the first quarter of 2018, pending necessary shareholder approval and closing conditions. This story is originally posted on Forbes

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.