Corporate Profiles - 2024 - 45

OPERATOR
insight
For the following formats, how has ordering frequency
changed at your operation in the past year?
Ordering
frequency has
INCREASED
Pickup/takeout
Catering
Delivery
Shared plates
Source: Datassential
the restaurant business today. It can build loyalty and ultimately lead
to growth. "
MENU INNOVATIONS
" Creating controversy " was identified by Lizzy Freier, director of menu
research and insights for Technomic, Chicago, as a springboard for menu
ideation in 2024 and beyond. In a session at the May NRA Show, Freier
named unexpected ingredients as a way to introduce controversy into
menus, such as the Oleato beverage lineup formulated with olive oil
from Starbucks, Seattle.
Flavor and format mashups mark another avenue to develop controversy.
For instance, Louisville, Ky.-based Yum! Brands' portfolio company
KFC introduced Chizza to US
menus following its international
debut in 2015. The product features
two white meat extra crispy
fried chicken filets, topped with
marinara sauces, melted mozzarella
and pepperoni.
Fellow Yum! Brands chain Taco
Bell partnered with Kellanova, Chicago,
to create a line of limited-edition menu items featuring a Big
Cheez-It cracker. Offerings included the Big Cheez-It Crunchwrap Supreme
and the Big Cheez-It tostada.
Menu descriptors also may be used to create controversy, especially
when paired with limited-time offerings. Examples include the word
" dirty " as used by Inspire Brands' subsidiary Sonic Drive-In, which recommends
customers add coconut cream and lime to any drink to " make
it dirty, " Freier said.
Interest in global flavors has led dishes like pad thai to quickly gain
popularity, according to Datassential. The meal saw a 64% growth
across menus for its vegetable variety over the 12-month period ending
Corporate Profiles
in the second quarter of 2024, and chicken pad thai saw a 51% growth
across menus during the same period.
" Thai cuisine and its most well-known dish, pad thai, are gaining in
consumer awareness, " Datassential said. " Pad thai is an approachable
noodle dish and has the appeal of being able to be customized to suit
consumers' preferences, as it's typically served with the toppings deconstructed
atop the dish. "
SHIFTS SHAPING THE LANDSCAPE
Notable leadership changes occurred during 2024 as Wendy's,
" Restaurants are finding ways to adapt to
the challenges of increased food costs and
supply chain disruption. "
- Michelle Korsmo, National Restaurant Association
Starbucks, Papa John's and Shake Shack all gained new CEOs. Additionally,
Pizza Hut, Popeyes and Wendy's each saw a new president
take the helm for their respective
US divisions.
Several significant acquisitions
also took place during
the course of the year.
Krispy Kreme, Inc., Charlotte,
NC., parted with its majority
stake in Insomnia Cookies in
a $127.4 million deal with
private equity companies Verlinvest and Mistral Equity Partners. The
company remains a minority shareholder in the cookie maker with
approximately 34% equity.
Restaurant Brands International Inc., Toronto, reached an agreement
to acquire Carrols Restaurant Group for $1 billion in January. At the
time, Carrols operated more than 1,000 Burger King restaurants and
over 60 Popeyes restaurants.
In May, private equity firm Roark Capital completed its acquisition of
the Subway restaurant chain. While financial terms were not disclosed,
The Wall Street Journal reported the transaction price at approximately
$9.6 billion when the deal was first announced in 2023. CP
Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Dairy Processing * Pet Food Processing
October 2024 / 45
36%
34%
20%
17%
Ordering
frequency has
NOT CHANGED
37%
26%
25%
40%
Ordering
frequency has
DECREASED
8%
14%
8%
3%
Do NOT offer
20%
26%
48%
40%
42%
stayed
the
same
46%
increased
Would you say that foot traffic to your
business for in-person dining in the past year
has increased, decreased or stayed the same?
12%
decreased

Corporate Profiles - 2024

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