High Bluff Capital Partners is adding Church’s Chicken to its growing roster of restaurant brands under its REGO Restaurant Group platform, established in 2018.
The company has entered into a definitive agreement to acquire Church’s from FFL partners for an undisclosed amount. FS Investments led a structured capital investment in support of the acquisition out of its FS Tactical Opportunities Fund along with other affiliated investment funds. The transaction is expected to be completed in Q3.
Atlanta-based Church’s Chicken has more than 1,500 locations in 25 countries and territories. The nearly 70-year-old brand generated systemwide sales of about $1.2 billion in 2020, including its most profitable performance in “many years,” by leveraging a strong demand for chicken and bundled meals, as well as drive-thru and off-premise channels.
This momentum is what attracted High Bluff founder Anand Gowda to the brand.
“At a time when the entire restaurant industry has faced unprecedented challenges, Church’s has stood out as a notable bright spot, having emerged from the pandemic with considerable tailwinds that strongly position the brand for tremendous growth geographically as well as in the overall chicken category,” he said.
Despite those tailwinds, however, Gowda acknowledges that Church’s needs a bit more agility to better compete in an intensifying space.
“My perspective is that situations that appear to be challenged on the outside–like having a dated brand–have tremendous loyalty from the customer base and if you can invest some capital in the physical assets and technology, that’s interesting,” he said. “Church’s has performed very well through Covid, but there is still so much untapped value here. It’ll take some simple blocking and tackling to energize the customer base and that’s what we intend to do.”
Those blocking and tackling efforts include bringing innovative menu offerings to market more quickly, elevating the tech platform, improving the point-of-sale system and getting a loyalty program in place as soon as possible.
Essentially, Gowda wants to bring a faster mindset to the system, which has been under the same ownership since 2009.
“They took a long time to make decisions like implementing price changes. They were late to the chicken sandwich wars. It shouldn’t take two years to develop a loyalty program,” he said. “You have to be quick in this industry–especially now. We have a small group of owners and that gives us the ability to make decisions quickly. Our ownership is narrow and I think that will be a strategic advantage with the brand.”
Taking over a legacy brand at a sprint’s pace has its risks, however. Namely, it could turn off loyal franchisees who have been with the system for a long time. Gowda isn’t worried about this so much, however.
“We all have the same goals. If we’re not working to increase their margin, we shouldn’t be in the market. Our objective is to bring more sales to franchisees in a more agile way and give them more opportunities at growth and more flexibility with technology. They’re in acute alignment with that objective,” he said.
If that alignment is sustained, Gowda expects big things for the Church’s brand. He wants to grow its footprint, including in nontraditional ways such as ghost kitchens–a plan he’s deploying with REGO’s other brands.
Further, consumers have proven their appetite for chicken is boundless and he believes there is plenty of room for Church’s Texas-style chicken alongside the Kentucky-style chicken of KFC and the Louisiana-style chicken of Popeyes (both of which are on a significant upswing, by the way). He also likes the momentum Church’s has with its international business, its strongest driver of growth throughout the past two years.
“We have this wonderful international business and we can take all the flavors that we put into those businesses and import them here that are in high demand. International is one of our strongest assets and it will help us bring forward great products that will generate great sales. Our operators are thirsty for this type of innovation,” Gowda said. “We recognize we’ll fail sometimes but we’ll win big sometimes. In two or three years, we’ll be leading this category versus following in this category.”
With the acquisition of the chicken chain, REGO Restaurant Group diversifies its portfolio that already includes sub chain Quiznos and Mexican concept Taco Del Mar. Gowda would like to get to at least 10 brands and double its EBITDA (earnings before interest, taxes, depreciation and amortization) to north of $100 million in the next few years. REGO plans to continue taking advantage of the mergers & acquisitions market while it remains hot.
“It took us a little while to get the snowball going, but now we have a scalable platform with Church’s. That was our goal–scale to get to scale. Now we focus on buying bigger assets, financing them in a cost efficient way and accelerate opportunities that are either undermanaged, poorly capitalized or growing well but in the mid-to-early stages of growth that we can accelerate,” Gowda said. “We’re just getting started.”
FXM VENTURE – Offers News Investment Platform – GlobeNewswire
Glasgow, Scotland, Aug. 13, 2022 (GLOBE NEWSWIRE) — With the intention of being one of the top investment platforms for investors of all stripes, FXM Venture was established in July of 2020. FXM has been extending its impact to adjacent nations thanks to the vision and leadership of its core members.
BACKGROUND OF FXM VENTURE
Ten significant individuals were involved in the founding and early development of FXM Venture, with the goal of establishing this investment fund’s brand on a global scale. And today, 100 members work in 6 transnational branches and continue their tradition. In addition to being directed and run by professionals with decades of expertise in a variety of sectors, including finance, investing, marketing, and technology, FMX is also run by vital departments like: customer service personnel, technical staff,…
Additionally, in just two years (starting in July 2020), FMX has called for a total investment of 8 million USD.
HOW DOES FXM VENTURE WORK?
For both long- and short-term traders, funding rates are regular payments. Investors are free to select a transaction based on their financial situation and liquidity. Users can, in particular, withdraw money at any moment and get interest.
At FXM Venture, we have experienced traders in both Forex and Cryptocurrencies allowing us to build a stable financial foundation to increase the returns of our investors.
FXM also has AI technology in trading approaches to Real-time forecasts of hundreds of scenarios, execution strategies, and commercial alliances, in addition to our research, market neutral algorithms by monitoring market movements and building trading algorithms. Our primary goal is to establish a win-win relationship between the customer and the firm, in which FXM Venture develops specific investment plans and strategies, while investors can then choose suitable investment packages, together with FXM consider and select specific investment plans.
ORIENTATIONS AND VISIONS
By expanding its operations and financial system in 2022, FXM aims to become one of the best legitimate funds in the world. To that end, 4 additional branches will be opened, and recruiting efforts will be stepped up to reach our target of 200 members.
In terms of financing, FXM VENTURE’s aim is to raise our fund up to $15 million.. Aside from that, FXM equips you with the resources you need to be completely confident in your investment decisions. Furthermore, you may invest with FXM with complete confidence because here are what make FXM different:
- TRANSPARENT TRANSACTIONS
- MULTI-ASSET PLATFORM
- PROFESSIONAL TRADER TEAM
- AI TECHNOLOGY
- SECURED DEPOSITS AND WITHDRAWALS
- 24/7 CUSTOMER SUPPORT SERVICE
- LIVE TRADING
FXM does not intend to stop at satisfying almost 30,000 customers who have been using services and investing in FXM (with a customer satisfaction rate of 78% and a customer return rate of 85%), FXM is as complete as possible with the goal of increasing the number of clients to 50,000 in the next quarter with a satisfaction level of over 90%.
PACKAGES AND REFERRAL
Visit the website for more information
And also, Remember to refer friends to be rewarded with $25 for every friend who joins and registers at least one package — with no cap on the number of people you can refer, and gain matching income on their profits: F1 (10%), F2 (5%), F3 (3%), F4 (2%).
Company Name: FXM Venture
Telegram group: https://t.me/fxmventure_official_chat
Telegram channel: https://t.me/fxmventure_official_channel
There is no offer to sell, no solicitation of an offer to buy, nor a recommendation of any securities or any other products or services. Furthermore, nothing in this PR should be construed as a recommendation to buy, sell or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security or related transaction is suitable for you based on your investment objectives, financial situation and risk tolerance. Please consult your business advisor, attorney or tax advisor regarding your specific business, legal or tax situation.
PepsiCo Makes $550 Million Celsius Investment As Hip Hop Mogul Sues For His Shares – Forbes
has its sights on gaining a bigger share of the energy drink with a $550 million investment in Celsius Holdings. The energy drink maker is also at the center of a lawsuit between Russell Simmons and his ex-wife Kimora Lee Simmons along with her husband Tim Leissner, as he tries to retrieve his shares in Celsius back from them. Allegedly Kimora Lee and Leissner transferred and were using his shares of Celsius as collateral to pay a bond in connection with these criminal charges. Leissner already pleaded guilty, and agreed to forfeit $43.7 million for his role in the Malaysia 1MDB scandal that cost Goldman more than $3 billion. Simmons alleges that his shares of Celsius are being used as collateral to pay a bond in connection with these criminal charges.
The Breakdown You Need To Know:
Celsius recorded a first-quarter domestic revenue increase of 217% to $123.5 million and the long-term distribution deal gives Pepsi a minority stake of about 8.5%. The brand, which doesn’t use artificial preservatives or sugar, adds to PepsiCo’s energy drink portfolio, which already includes Rockstar as well as Mountain Dew drinks Amp, Game Fuel, and Kickstart. CultureBanx reported that with these types of returns it’s easy to see why Simmons wants his shares back from the couple.
Quick Recap on how these three people ended up in this situation. Goldman Sachs
last year agreed to pay the Malaysian government $3.1 billion, to settle claims in the 1Malaysia Development Berhad (1MDB) fund. One of the main people who got the bank involved in this scandal was Kimora Lee’s Simmons husband Tim Leissner.
The bank swiftly parted ways with him after his shady dealings with Jho Low came to light. In November 2018, when Leissner agreed to pay $43.7 million toward victim compensation, it was in order to avoid jail time.
In his claim, Simmons says Kimora and Leissner “knew full well that Leissner would need tens of millions of dollars to avoid jail time, stay out on bail, and forfeit monies for victim compensation.” Simmons claims they used their Celsius shares as collateral for Leissner’s bail, and he wants his shares returned.
Now Russell wants no financial part in keeping Leissner out of jail. In a letter sent to his ex-wife Kimora Lee on May 5, 2021, he was pleading with her to do the right thing and avoid a lawsuit. He wrote that “I am shocked and saddened to see how your side has behaved in response to my repeated attempts to get an agreement from you to rightfully and legally reaffirm my 50% of the Celsius shares..which have been locked up with the government after being used for your husband’s bail money.”
A representative for Kimora Lee said “Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars.” At this point Russell is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the wrongfully obtained shares.
Saskatchewan Leads Provinces In Building Construction Investment | News and Media – Government of Saskatchewan
Released on August 12, 2022
Saskatchewan first among the provinces in year-over-year growth
Today, Statistics Canada released June 2022 Investment in Building Construction numbers, which showed Saskatchewan with a 63.0 per cent increase (seasonally adjusted) compared to June 2021, ranking first among the provinces in terms of percentage change.
Saskatchewan also had strong month-to-month growth for building construction investment with a 17.6 per cent increase (seasonally adjusted) between May 2022 and June 2022, second among the provinces. The value of building construction investment in June 2022 was $464 million, the highest monthly investment in the province since August 2013.
Investment in residential building construction also saw strong month-to-month growth with an increase of 24.0 per cent.
“Saskatchewan’s economy is moving full steam ahead as we advance our Government’s strategy to increase our exports and attract investment into the province,” Trade and Export Development Minister Jeremy Harrison said. “Saskatchewan is a global leader in the sustainable production of the food, fuel and fertilizer that the world needs, a reality that will lead to more jobs and opportunities in our province for years to come.”
The latest Statistics Canada Labour Force Survey showed there were 581,600 people employed in July 2022 – an increase of 24,400 jobs (+4.4 per cent) compared to July 2021, the third highest percentage increase among the provinces. The seasonally adjusted unemployment rate of 4.0 per cent remained the second lowest among the provinces, a decrease from 7.1 per cent in July 2021 and well below the national average of 4.9 per cent.
Saskatchewan has ranked highly in a number of other key economic indicators in recent months, including June 2022 merchandise exports, which had the second highest year-over-year growth among the provinces at 57.3 per cent and June 2022 building permits, which had the second highest month-to-month growth among the provinces at 15.8 per cent and the third highest year-over-year growth at 27.4 per cent. June 2022 urban housing starts had the second highest year-over-year growth at 87.0 per cent, compared to the national increase of 0.2 per cent (unadjusted).
For more information, contact:
Trade and Export Development
Canadian literary figures double down on free speech following Salman Rushdie attack – CTV News
Canada continues to show growth after overcoming adversity against Czechia – Sportsnet.ca
Security researcher reveal Zoom flaws that could've allowed attackers to take over your Mac – Yahoo Canada Shine On
Silver investment demand jumped 12% in 2019
Europe kicks off vaccination programs | All media content | DW | 27.12.2020 – Deutsche Welle
Global Media Markets, 2015-2020, 2020-2025F, 2030F – TV and Radio Broadcasting, Film and Music, Information Services, Web Content, Search Portals And Social Media, Print Media, & Cable – GlobeNewswire
Art22 hours ago
Remembering Dori Klaaren and her art – Niagara Frontier Publications
Science19 hours ago
Remains of small armor-plated dinosaur found in Argentina – Mint Lounge
Sports14 hours ago
Canada’s Auger-Aliassime falls to Ruud in National Bank Open quarterfinals – Sportsnet.ca
Health4 hours ago
A new Langya virus has infected 35 people in China. Here's what you need to know – Salon
Sports4 hours ago
Canada continues to show growth after overcoming adversity against Czechia – Sportsnet.ca
Science8 hours ago
Researchers in South America Discover a New Species of Tiny but Tough Dinosaurs – ScienceAlert
Health15 hours ago
Canadian wastewater surveillance expanding to new public health threats: Tam – CP24
Sports15 hours ago
Three Stars from Day 4 of WJC: Lysell, Sweden dominate all-European action – Sportsnet.ca