November 30, 2009
Industry Headlines
Vancouver, Washington-based Papa Murphy's International, the nation's largest take-and-bake pizza company, is for sale. The company's current owner, Charlesbank Capital Partners LLC of Boston, has hired San Francisco-based heavy hitter North Point Advisors to facilitate the process.
Lindsi Miller, director of corporate communications at Papa Murphy's, issued this statement last week: "Charlesbank and Papa Murphy's International have engaged North Point Advisors to assist in evaluating strategic alternatives that will yield a solid return to Charlesbank's limited partners, consistent with its original commitment to them."
Papa Murphy's is America's seventh-largest pizza chain, with 1,135 stores and nearly $585 million in sales, according to Pizza Today's 2009 "Top 100 Pizza Companies" list. The organization is the only multiple winner of Pizza Today's coveted "Chain of the Year" award. Papa Murphy's has been named the magazine's Chain of the Year four times: 2001, 2006, 2008 and 2009.
Pizza Hut, which suffered a whopping 13 percent decrease in same-store sales in the third-quarter of 2009, was recently assigned a patent by the USPTO. The patent covers a pizza having an outer cheese portion, according to a published report in the Cheese Reporter. In its simplest terms, the new product would contain a ring of cheese that envelopes the pizza. There's no word if or when Pizza Hut plans to introduce this new product to market.
The outlook for the restaurant industry improved somewhat in October, says the National Restaurant Association (NRA). The NRA's Restaurant Performance Index registered its first gain in three months and stood at 98.0 in October, up 0.5 percent from its September level. That said, anything below 100 signifies a contraction in the index of key industry indicators, according to a release issued by the NRA. Additionally, this October marked the 24th consecutive month in which the RPI came in below the 100-point bench mark.
"Although restaurant operators continue to report soft same-store sales and customer traffic levels, they are somewhat more optimistic about improving conditions in the months ahead," says Hudson Riehle, senior vice president of the NRA's Research and Knowledge Group. "Restaurant operators reported a positive six-month economic outlook for the fourth consecutive month, and proportion planning for capital expenditures rose five percentage points."
Hunt Brothers Pizza has announced the addition of Keith Solsvig as Vice President of Marketing.
"Keith has extensive experience in our niche market of convenience stores and has strategic marketing skills that have earned him tremendous respect in the industry," says Scott Hunt, Hunt Brothers CEO. "We are proud to have Keith at our company in this marketing leadership role."
Prior to joining Hunt Brothers, Solsvig managed the "Grilled & Ready" consumer products at Tyson Foods
Before the start of the this year's World Series between the New York Yankees and Philadelphia Phillies, Goodfella's Pizza, based on Staten Island, challenged Geno's, the renowned south Philly cheesesteak eatery, with a bet. If the Yankees won, Geno's owed Marc Cosentino of Goodfella's 10 cheese steak sandwiches. If the Phillies won, Cosentino would have to fork over 10 gourmet pizzas.
Behind some of baseball's all-time greats, such as Derek Jeter, Alex Rodriguez and Mariano Rivera, the Yankees proved to be too talented and ended the season with their 27th World Championship. That meant hitting the road for Cosentino, who pulled into Geno's last week to collect on his winning bet.
According to a press release issued by Cosentino, "the anticipated animosity of the rivals melted with an exchange of savory treats and the pizza makers were made to feel right at home and treated as honored guests. The crew at Geno's even went as far as to let the pizza man work the grill and flip some steak!"