Private-equity firm Rhone Capital will acquire Brazilian steakhouse chain Fogo de Chao for $560 million, the company said Tuesday. The chain has 38 US restaurants with plans to grow to 100 or more, and it's also focused on international growth, Chief Executive Officer Larry Johnson said.
About 57% of Costco members are also Amazon Prime members, compared to 13% five years ago, according to a survey from MoffettNathanson. "Americans appear to be buying into the concept of owning two 'shopping' memberships as the value proposition is fundamentally different," the firm wrote in a research note.
Consumers are likely to accelerate their adoption of online grocery shopping in the wake of recent mergers and acquisitions, a Nielsen report projects. Up to 70% or 80% of shoppers will be venturing online for at least part of their groceries within five to seven years, according to Nielsen's Laurie Rains.
Modern takes on the Jewish deli are opening across the US, putting a new spin on traditional cuisine popularized by iconic delis including New York City's now-closed Carnegie Deli. "We're taking the Jewish deli food back to its roots, but kind of pushing the rest of the experience forward," said Michael Kassar, co-owner of Wexler's Deli in Los Angeles, which serves sustainably sourced fish and hormone-free meat.
Nestle USA has named Steve Presley its new CEO effective April 1, succeeding Paul Grimwood in the role. "Steve's experience will prove invaluable in continuing to pursue new internal and external models to increase the speed of innovation, capitalize on M&A to seed our innovation machine, and create new income streams and capabilities," said Nestle's Laurent Freixe.
Coca-Cola is working to adjust its offerings to meet consumer demand, whether that means acquiring on-trend labels or reworking its beverage ingredients, said Chief Financial Officer Kathy Waller. "If it's got sugar, we're probably reformulating it," she said.
About 92% of US households purchased cereal at least once last year, driving overall sales in the category to $7.7 billion in 2017, according to data from Statistic Brain. "It is still one of the most affordable breakfast options on a per-serving basis for consumers, and it does provide a variety for kids and adults," said James Hyland of Roundy's Supermarkets.
Actor Ryan Reynolds has become an investor and board member for Aviation American Gin, which also has named him as one of the creative directors for the brand. "About a year ago, I tried Aviation for the first time. Since that day, I've spent my time finding some way to infiltrate the company," Reynolds said.
Connoisseurs are paying more attention to the steps of roasting coffee to better understand the flavors as they are created. In addition to bean sourcing, the details of the roasting process and its chemical reactions also matter greatly in the final flavor, said Jonathan Parkes of Dimattina Coffee.
Sugar made from reductions of palm or cane juice offer a depth of flavor not typically found in refined white sugar, writes Max Falkowitz. Gula melaka from Malaysia, jaggery from India and panela from Central and South America can be used in either desserts or savory dishes thanks to their muted sweetness.
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