Weekly Global News Wrap: McDonald’s cuts tech fees for U.S. franchisees; Krispy Kreme raises US$500m; Panera Bread sells Au Bon Pain

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

Ampex Brands, which has more than 400 Pizza Hut, KFC, Taco Bell, Long John Silver’s and 7-Eleven locations in the U.S., announced that it bought the bakery-cafe chain Au Bon Pain. As CNBC reported, Ampex bought the bakery-cafe chain from ABP Corp., a subsidiary of Panera Bread. Read more here.

Krispy Kreme raised US$500 million in its initial public offering after pricing its shares at $17, Restaurant Business reported. The price gives the company a market value of about US$2.8 billion, more than double the company’s value when European investment firm JAB Holdings took the company private back in 2016. Read more here.

McDonald’s is reducing the technology fees it planned to charge its U.S. restaurant owners by about US$42 million, easing reported tension between the parent company and its franchisees for months. According to an internal document viewed by Bloomberg News, the fast-food giant decided to cut the charges by 62% from the original US$68 million communicated to franchisees in December. Read more here.

P.F. Chang's aims to have more than 50 To Go units in its network by 2022, with more than 20 of these additional locations already underway. As Restaurant Dive reported, the expansion of the may complement the work the brand has done to improve its off-premise strategy, which includes a new app and e-commerce website platform and improved packaging. Read more here.

Amidst the U.S. chicken sandwich wars and increased prices, U.S. operators are told to consider offering some different dark meat cuts. Citing NPD data, Business Insider reported that chicken wing consumption is up 17% over last year, and breaded chicken is up 15% over the same period. Read more here.

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The brand previously revealed it will open ten sites this year.
The burger is available until 31 January in Absurd Bird sites.
The company operates 18 restaurants in the UK.
This will be the fifth London site for the Australian chef.
She joined Papa John’s in 2015 as senior director for digital marketing and most recently served as senior vice president for customer experience.
274 million orders were processed in the fourth quarter of last year.
This effectively ends a takeover bid from the Issa brothers' EG Group.
The company will invest over £9.2 million to raise hourly rates amidst sector-wide labour shortages.
Founded in 2017, it already has a presence in ten countries, including the US, UK and Australia.
The move is expected to create 1,000 jobs and 4,000 over the next three years.
Deliveroo, meanwhile, reported a 117% surge in plant-based ordering across the UK since Veganuary 2021.
It also has plans to grow in Edinburgh in the next few years.
Sales in December 2021 ran at approximately 63% of 2019 levels.