Weekly Global News Wrap: JAB makes long-term bet on Krispy Kreme’s growth; Burger King eyes faster drive-thrus with simpler menus; 7-Eleven tries autonomous delivery
Here is a summary of the most interesting news stories of the week from around the world.
JAB Holding Co. announced a plan to bite off another 6.5 million shares of Krispy Kreme, saying it is entering into a three-year total return swap agreement with BNP Paribas. As reported by Nation’s Restaurant News, JAB believes there is significant long-term value creation to come in the doughnut chain and the investment firm intends to remain an anchor for many years. Read more here.
Burger King is looking to speed up drive-thru times by cutting menu items as it looks to speed up its drive-thru times. As reported by CNBC, the burger chain’s drive-thru times have climbed over the last nine to 12 months, citing Jose Cil, CEO of the burger chain’s parent company Restaurant Brands International. Read more here.
Shake Shack is set to open its first-ever U.S. drive-thru location on December 6. As noted by Restaurant Dive, the fast casual chain is targeting 10 drive-thrus in 2022 as well as 45 to 50 new stores, its largest expansion to date. Read more here.
7-Eleven is getting into autonomous delivery in the U.S., announcing it will use self-driving vehicles from Nuro to cart goods to customers in Mountain View, California. As reported by Restaurant Business, the test will start with autonomous Toyota Priuses from Nuro and will later move to the R2 bots, designed specifically for delivering goods without an occupant. Read more here.
A U.S. judge has dismissed a US$10 billion lawsuit against McDonald's Corporation by media entrepreneur Byron Allen, who accused the fast food giant of racial discrimination for not advertising with Black-owned media. Read more from Reuters here.