Weekly Global News Wrap: MOD Pizza plans to go public; Papa John’s to boost presence in Africa; FAT Brands to acquire another chicken concept
Here is a summary of the most interesting news stories of the week from around the world.
American fast casual restaurant chain MOD Pizza is the latest to declare plans to go public, confidentially filing IPO documents with the U.S. Securities and Exchange Commission. As noted by Restaurant Business, it would be the eighth restaurant chain in the U.S. to do so this year. Read more here.
Papa John’s announced it has entered into a new franchising partnership to bolster its presence in Africa, aiming to open 60 restaurants in Kenya and Uganda over the coming years. Read more here.
McDonald’s has been urged to conduct a third-party audit of its policies. As reported by Nation’s Restaurant News, SOC Investment Group, sent a shareholder proposal to McDonald’s board urging an audit of policies and practices on “the civil rights of company shareholders, franchisees, workers and consumer communities.” Read more here.
FAT Brands is set to acquire its third chicken wing concept, announcing it has agreed to buy U.S.-based restaurant chain Native Grill & Wings for US$20 million. The acquisition is expected to close in mid-December 2021. Read more here.
Starbucks workers at a store in Arizona, U.S. sent a letter to the coffee giant’s president and CEO Kevin Johnson announcing their intent to form a union and requesting him sign a series of fair election principles, Restaurant Dive reported. Read more here.