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Beverage and snack giant Pepsi (NYSE:PEP) agreed to buy at-home sparkling water company SodaStream (NASDAQ:SODA) for $3.2 billion, or $144 per share — a 32% premium to SODA stock’s 30-day volume weighted average price. On Pepsi’s side, the deal gives the company a new way to reach consumers within their home (SodaStream sells at-home sparkling water makers), and thus expand reach beyond retail. It is a good deal that should boost Pepsi’s long-term growth trajectory.
McDonald's is ordering up new looks to its Central Florida restaurants as part of a nationwide effort to improve the fast-food chain's digs. Chicago-based McDonald's Corp. (NYSE: MCD) plans to invest $186 million in Florida on the construction and modernization of 240 restaurants statewide between 2018-2019. The burger behemoth is injecting $6 billion in restaurant facelifts across the U.S. A McDonald's spokeswoman declined to share the number of Central Florida restaurants slated for renovation.
Tyson Foods said it's buying Keystone Foods — a supplier of chicken nuggets to McDonald's Corp. — for $2.16 billion in cash.
Investing.com - The Dow closed sharply higher on Friday as traders cheered reports that plans were afoot for a meeting between President Trump and Chinese counterpart Xi that could pave the way for an end to the trade war.
Oppenheimer analyst Brian Bittner downgraded Yum China Holdings Inc (NYSE: YUMC ) from Outperform to Perform and removed his $40 price target. The Thesis After spinning off from YUM! Brands, Inc. (NYSE: ...
The Centers for Disease Control and Prevention says a romaine lettuce and carrot mix that was sold at McDonald's Corp. (mcd) tested positive for cyclospora, which has resulted in 476 illness cases across 15 states. Cyclospora is an intestinal illness caused by a parasite. The salads came from a Fresh Express processor in Streamwood, Ill. Fresh Express, which was alerted to the results on July 27, says the carrot mix went to McDonald's and the romaine-only item was distributed elsewhere.
This McDonald's in London got a glamorous "mc-makeover" with the help of @MarkVandelli. @Richardvines explains the story behind #tictocnews (Source: Bloomberg)
Close to $80 million will be invested in McDonald's restaurants in Kansas in 2018 and 2019. McDonald's USA says it's investing about $6 billion to modernize most U.S. restaurants by 2020. A total of $78 million from that pool has been or will be devoted to restaurants in Kansas.
After Morgan Stanley’s upgrade on August 15, Chipotle Mexican Grill’s (CMG) stock price rose 6.6% to close the day at $525.89. Since the beginning of 2018, Chipotle’s stock has returned 82%. The strong performance in the first and second quarter of 2018 and the appointment of Brian Niccol as the company’s CEO in March have led to a rise in the company’s stock price.
On August 15, Morgan Stanley upgraded Chipotle Mexican Grill (CMG) from “equal weight” to “overweight” and also increased its price target to $600 from an earlier price target of $413. The new price target represents a return potential of 14.1% from Wednesday’s closing price of $525.89.
Diners like the convenience and affordability of fast-food and fast-casual restaurants, a trend that shows no sign of slowing. Many of these chains have a presence across the country as they continue to expand. Here is a quick look at stories about the leading brands in the industry as recently reported by The Business Journals and other media.
Brazilian meatpacker Marfrig Global Foods SA expects to close the sale of its U.S. chicken processing unit, Keystone Foods, in the next few weeks, executives told journalists on Wednesday. Chief Financial Officer Eduardo Miron said the company is discussing the transaction in the United States this week. Chairman and major shareholder Marcos Molina said the Keystone sale is the company's "number one priority." Proceeds will be used to reduce Marfrig's debt, Molina added.
The upgrade to CMG stock takes it from a rating of “In Line” to its new rating of “Overweight.” At the same time, the research firm also updated its 12-month price target for the stock. For comparison, Chipotle Mexican Grill stock was sitting at $493.32 when the markets closed on Tuesday. Morgan Stanley says that there are a few reasons that it is taking such a bullish approach to Chipotle Mexican Grill stock.
Amid a cost-laden operating environment, Yum! Brands (YUM) banks on refranchising and other efficiency initiatives to drive earnings.
China’s fast-food industry is in focus with the country’s sovereign wealth fund, China Investment Corp., and other investors said to be backing a takeover of Yum China Holdings Inc. The interest comes as the operator of the KFC and Pizza Hut brands in the country and other U.S. brands are reporting slowdowns. Here are some caveats for whoever bids for Yum China, valued at $13.6 billion. Chinese consumer spending is softening.
Investment firms are exploring a buyout of Yum China Holdings Inc (YUMC.N), the operator of KFC, Pizza Hut and Taco Bell in the world's second-largest economy, in what could be one of Asia's biggest M&A deals this year, sources close to the situation told Reuters. Yum China, which had a market value of $13.6 billion as of its closing price on Tuesday, was spun off from owner Yum Brands! Inc (YUM.N) in 2016 and later listed on the New York Stock Exchange. It is the biggest fast-food chain operator in China with over 8,100 restaurants in more than 1,200 cities.
Investment firms are exploring a buyout of Yum China Holdings Inc. (YUMC.N) in what could be one of Asia's biggest M&A deals this year, sources close to the situation told Reuters. Yum China, which had a market cap of $13 billion as of its closing price on Monday, was spun off from the KFC and Pizza Hut owner Yum Brands! Inc (YUM.N) in 2016 and later listed on the New York Stock Exchange. The firm itself has been discussing internally about switching to the Hong Kong bourse for a listing, because of the city's proximity to the Chinese market, potentially higher valuation and its convenient timezone for executives, a separate source with knowledge of the plan told Reuters.
A union-backed group trying to win better pay for fast food workers urged two of President Donald Trump’s appointees to the National Labor Relations Board to bow out of a dispute over whether McDonald’s franchise workers were fired for supporting the “Fight for $15” movement. The call by activists aligned with the Service Employees International Union for board chairman John Ring and fellow Republican panelist William Emanuel to recuse themselves comes as McDonald’s is asking the five-member panel to approve a settlement of the workers’ retaliation claims that was earlier rejected by an administrative law judge.
Despite the seeming ubiquity of McDonald's Golden Arches and the Starbucks mermaid, the sandwich chain Subway actually has the most locations of any restaurant worldwide, about 43,000 in 2017. This number, however, belies the economic reality: while McDonald's and Starbucks continue to grow their profits, Subway's have been slipping since 2014. Industry analysts point to a few reasons for this, including a lack of innovation and fraught relationships with franchise owners.
McDonald's is getting a facelift. They are spending $6 Billion to renovate many of their locations. The renovations will include new furniture, refreshed exteriors and perks for mobile app users. The goal is to modernize the fast-food chain.