Coca-Cola Acquires Monster And More Industry News
This week in industry news, Coca-Cola Co. acquired a 16.7 percent stake in the Monster Beverage Co., Red Robin Gourmet Burgers Inc.'s profit fell 14 percent in the second quarter, and Shake Shack is considering an initial public offering this year.
Read on for more of this week's biggest financial news in the world of food.
Earnings
Red Robin Gourmet Burgers Inc.: In the second quarter, the company's profit fell 14 percent.
Photo Credit: Flickr/Mike Mozart
Popeyes Louisiana Kitchen Inc.: The company's profit fell 2 percent in the second quarter due to costs associated with executive transitions.
NPC International Inc.: Same-store sales fell 5.6 percent at Pizza Hut restaurants in the second quarter.
Noodles & Company: The company's second-quarter profit fell 7.5 percent, which it reports is due to harsh weather conditions.
Leadership Change
Popeyes Louisiana Kitchen Inc.: Former KFC executive William Matt was named chief financial officer of Popeyes Louisiana Kitchen Inc.
Mergers/Acquisitions
Coca-Cola Co.: For a price of about $2.15 billion, Coca-Cola Co. acquired a 16.7 percent stake in the Monster Beverage Co.
KeHE Distributors L.L.C.: The company completed its acquisition of Nature's Best, a distributor of health and natural food products.
Hot Dog on a Stick: The parent to the Hot Dog on a Stick chain was acquired out of bankruptcy by Global Franchise Group LLC.
Carlisle Corp.: The company acquired a minority stake in LYFE Kitchen. Details on the size of the investment were not disclosed.
More Financial News
Photo Credit: Flickr/bradhoc
Shake Shack: The burger chain, which is owned by Union Square Hospitality Group, is considering an initial public offering this year.
Have the inside scoop on a merger or acquisition? Know of a new advertising campaign around a new iconic product? We're always looking to get ahead of the game, so email us your tips.
Haley Willard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.