Latest news with #Hottovy
New York Post
3 days ago
- Business
- New York Post
Popular fast-food chain explores potential $1.5B sale as demand for fried chicken booms: report
Popular Southern-based fast-food chain Bojangles is exploring a potential sale of its business as demand for fried chicken heats up, according to a report on Wednesday. The company could fetch more than $1.5 billion – three times what it sold for in a 2019 buyout, sources familiar with the matter told the Wall Street Journal. The chain — known for its chicken, biscuits and cavity-inducing sweet tea — would likely draw interest from restaurant operators and private-equity investors, though it could still decide against the sale, sources added. 3 Fried-chicken chain Bojangles is reportedly exploring a potential sale of its business. Alamy Stock Photo Bojangles did not immediately respond to The Post's request for comment. Private-equity firms Durational Capital Management and TJC took Bojangles private in an all-cash deal in 2019 that valued the company at more than $590 million. Bojangles, founded in Charlotte, NC, in 1977, boasts about 800 locations mostly across the southern US, with more than 100 restaurants in Georgia alone, though it has started to expand to the northeast. It opened its first New Jersey location in April and its second Pennsylvania restaurant in 2022. The company is likely looking to take advantage of an advantageous market as fried chicken restaurants continue to outperform competitors. That's largely thanks to chicken's versatility, according to R.J. Hottovy, head of analytical research at 'This adaptability has enabled a number of brands to stand out by offering a wide range of customizable spice levels, sauces and sides that appeal to a broader customer base,' Hottovy told The Post. 3 A Bojangles meal including fried chicken, biscuits, sweet tea and sides. Total sales at US chain restaurants grew 3% last year, according to Technomic. Sales at burger chains rose just 1% – while chicken restaurants largely outperformed with 9% growth. Sales at fast-casual chicken chains like Raising Cane's and Wingstop increased 24% compared to the year before, according to Technomic. Visits to restaurants like Raising Cane's, Dave's Hot Chicken, Super Chix and Huey Magoo's Chicken Tenders far outpaced overall visits to fast-casual chains in the first quarter of 2025, according to data. The growth was driven in part by expansions as hot demand for chicken allowed restaurants to open new locations. 3 Dave's Hot Chicken recently announced a sale to Roark Capital that values the company at $1 billion. AP Dave's Hot Chicken – which recently clinched a $1 billion deal to sell to Subway owner Roark Capital – saw the most significant year-over-year visit growth of 60% in the first quarter, according to That followed visit growth of 67.2% in the fourth quarter of 2024. Other fast-food chains have tried to hop on the chicken trend. McDonald's added its McCrispy Strips to the permanent menu this spring, while Taco Bell re-launched its chicken nuggets. Several other restaurant mergers and acquisitions have been reached over the past few months. Blackstone took a majority stake in Jersey Mike's Subs that valued the company at $8 billion, while Sycamore Partners bought acai bowl chain Playa Bowls. The terms of the Playa Bowls deal have not been announced.
Yahoo
14-05-2025
- Business
- Yahoo
As Budgets Tighten, Frozen Pizza Becomes a Telltale Sign of Economic Strain
Frozen pizza sales have surged since the pandemic, rising to nearly $7 billion in 2024, as consumers sought convenient, cost-effective meals. Economic uncertainty and rising prices are driving continued growth, with experts predicting a 6.6% increase in sales as more people choose frozen pizza over takeout. Both budget and premium frozen pizzas are thriving, with popular low-cost options like Aldi and upscale offerings from Giordano's seeing strong years ago, when COVID-19 restrictions shuttered indoor dining, many consumers turned to home cooking — though not necessarily from scratch. Instead, they leaned heavily on a familiar standby: frozen pizza. Sales of frozen pizza jumped by $1 billion in 2020, climbing from $5.6 billion in 2019 to nearly $6.6 billion. Even after restaurants reopened, demand remained strong. By 2024, U.S. frozen pizza sales reached nearly $7 billion, contributing to a global market worth $18.5 billion. Now, as economic uncertainty grows amid rising tariffs and recession fears, analysts predict frozen pizza could become an even bigger player at mealtime. Greenwich Capital Group projects the category will grow by 6.6% over the next few years. 'During periods of economic uncertainty, it's common for consumers to shift from takeout to frozen pizza as a cost-saving measure,' says R.J. Hottovy, head of analytical research at which monitors retail trends. Related: The 5 Best Pizza Stones, According to Our Tests data shows year-over-year increases in foot traffic at value-focused grocery stores, while visits to pizza chains have been inconsistent. 'That suggests budget-conscious consumers may be adjusting their dining habits,' Hottovy explains. Economists and market watchers often view a surge in frozen pizza sales as an informal recession indicator. Like other 'comfort essentials' such as boxed macaroni and cheese or canned soup, frozen pizza tends to see a boost when consumers start tightening their budgets. It's not just about cost — it's convenience, long shelf life, and the sense of familiarity that make frozen pizza a go-to choice when economic anxiety rises. When sales of these products spike, it's often seen as a sign that households are preparing to spend less on dining out and more on affordable staples. There are signs that budget pizza is gaining traction. Each year, Aldi releases its list of fan-favorite items — products that stand out across various categories based on customer preferences. In 2024, Mama Cozzi's Pizza Kitchen Take and Bake Deli Pizza earned a spot on that list. Sold in Aldi's deli section, the 16-inch pepperoni pizza retails for $7.59 — more than $20 cheaper than a similar pie from a pizzeria. But the frozen pizza boom isn't limited to value options. Premium brands are seeing growth too. For over a year, Giordano's, the iconic Chicago pizzeria, has been promoting its frozen pies online, offering them through its website and gourmet delivery platform Goldbelly. A two-pack of Giordano's full-sized deep dish pizzas sells for $84.99, or $42.50 each. Prices drop with bulk orders: a six-pack goes for $159.99, bringing the cost per pizza to $26.67. Customers can also opt for variety packs, including six individual-sized pizzas (two each of plain, pepperoni, and sausage) for $84.99 — about $14.10 per pizza. Related: It's Official: The Best Pizza in the World Is in New York City 'In general, our ecommerce business has grown significantly over the last 12 months,' says Dan Gilland, Giordano's director of ecommerce. 'I couldn't say that the economic uncertainty is responsible for an uptick in sales because our growth has been strong for over a year now, but we certainly continue to see customers valuing our frozen pizza even in the current environment.' Gilland acknowledges the premium pricing, but believes customers see the value. 'One pizza is enough for a family dinner, and customers who may not be able to make it to a Giordano's restaurant can still experience an authentic Giordano's pizza,' he says. While demand appears poised to keep climbing, Greenwich Capital warns that supply chain infrastructure may not keep pace. 'Cold storage, which accounts for only 1.7% of the industrial market, faces persistent capacity challenges due to high costs, specialized requirements, and changing technology,' the firm noted in an analysis. Whether you're saving or splurging, there's likely a frozen pizza that fits your budget — and in uncertain times, that little bit of comfort can go a long way. Read the original article on Food & Wine Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
As Budgets Tighten, Frozen Pizza Becomes a Telltale Sign of Economic Strain
Frozen pizza sales have surged since the pandemic, rising to nearly $7 billion in 2024, as consumers sought convenient, cost-effective meals. Economic uncertainty and rising prices are driving continued growth, with experts predicting a 6.6% increase in sales as more people choose frozen pizza over takeout. Both budget and premium frozen pizzas are thriving, with popular low-cost options like Aldi and upscale offerings from Giordano's seeing strong years ago, when COVID-19 restrictions shuttered indoor dining, many consumers turned to home cooking — though not necessarily from scratch. Instead, they leaned heavily on a familiar standby: frozen pizza. Sales of frozen pizza jumped by $1 billion in 2020, climbing from $5.6 billion in 2019 to nearly $6.6 billion. Even after restaurants reopened, demand remained strong. By 2024, U.S. frozen pizza sales reached nearly $7 billion, contributing to a global market worth $18.5 billion. Now, as economic uncertainty grows amid rising tariffs and recession fears, analysts predict frozen pizza could become an even bigger player at mealtime. Greenwich Capital Group projects the category will grow by 6.6% over the next few years. 'During periods of economic uncertainty, it's common for consumers to shift from takeout to frozen pizza as a cost-saving measure,' says R.J. Hottovy, head of analytical research at which monitors retail trends. Related: The 5 Best Pizza Stones, According to Our Tests data shows year-over-year increases in foot traffic at value-focused grocery stores, while visits to pizza chains have been inconsistent. 'That suggests budget-conscious consumers may be adjusting their dining habits,' Hottovy explains. Economists and market watchers often view a surge in frozen pizza sales as an informal recession indicator. Like other 'comfort essentials' such as boxed macaroni and cheese or canned soup, frozen pizza tends to see a boost when consumers start tightening their budgets. It's not just about cost — it's convenience, long shelf life, and the sense of familiarity that make frozen pizza a go-to choice when economic anxiety rises. When sales of these products spike, it's often seen as a sign that households are preparing to spend less on dining out and more on affordable staples. There are signs that budget pizza is gaining traction. Each year, Aldi releases its list of fan-favorite items — products that stand out across various categories based on customer preferences. In 2024, Mama Cozzi's Pizza Kitchen Take and Bake Deli Pizza earned a spot on that list. Sold in Aldi's deli section, the 16-inch pepperoni pizza retails for $7.59 — more than $20 cheaper than a similar pie from a pizzeria. But the frozen pizza boom isn't limited to value options. Premium brands are seeing growth too. For over a year, Giordano's, the iconic Chicago pizzeria, has been promoting its frozen pies online, offering them through its website and gourmet delivery platform Goldbelly. A two-pack of Giordano's full-sized deep dish pizzas sells for $84.99, or $42.50 each. Prices drop with bulk orders: a six-pack goes for $159.99, bringing the cost per pizza to $26.67. Customers can also opt for variety packs, including six individual-sized pizzas (two each of plain, pepperoni, and sausage) for $84.99 — about $14.10 per pizza. Related: It's Official: The Best Pizza in the World Is in New York City 'In general, our ecommerce business has grown significantly over the last 12 months,' says Dan Gilland, Giordano's director of ecommerce. 'I couldn't say that the economic uncertainty is responsible for an uptick in sales because our growth has been strong for over a year now, but we certainly continue to see customers valuing our frozen pizza even in the current environment.' Gilland acknowledges the premium pricing, but believes customers see the value. 'One pizza is enough for a family dinner, and customers who may not be able to make it to a Giordano's restaurant can still experience an authentic Giordano's pizza,' he says. While demand appears poised to keep climbing, Greenwich Capital warns that supply chain infrastructure may not keep pace. 'Cold storage, which accounts for only 1.7% of the industrial market, faces persistent capacity challenges due to high costs, specialized requirements, and changing technology,' the firm noted in an analysis. Whether you're saving or splurging, there's likely a frozen pizza that fits your budget — and in uncertain times, that little bit of comfort can go a long way. Read the original article on Food & Wine Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-04-2025
- Business
- Yahoo
How tariffs have impacted retail & restaurant foot traffic
Tariffs are weighing not just on companies and stocks, but consumers too. Many are concerned about the potential of inflation rising and the economy slowing down. head of analytical research R.J. Hottovy shares what they are seeing reflected in foot traffic to some of the nation's biggest retailers and restaurant chains. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Sign in to access your portfolio
Yahoo
25-04-2025
- Business
- Yahoo
How tariffs have impact retail & restaurant foot traffic
Tariffs are weighing not just on companies and stocks, but consumers too. Many are concerned about the potential of inflation rising and the economy slowing down. head of analytical research R.J. Hottovy shares what they are seeing reflected in foot traffic to some of the nation's biggest retailers and restaurant chains. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Sign in to access your portfolio
