Sonic’s Profit Rises 13.4 Percent and More Industry News

Contributor
A roundup of this week’s food industry financial news
Sonic’s Profit Rises
In the third quarter, Sonic's profit rose 13.4 percent and its same-store sales increased by 5.3 percent.

This week in industry news, Sonic’s profit rose 13.4 percent and its same-store sales increased by 5.3 percent; Jill Golder was promoted to executive vice president and chief financial officer of Ruby Tuesday; and Del Taco is exploring a sale.

Read on for more of this week's biggest financial news in the world of food.

Earnings

Sonic Corp.: For the third quarter, the company’s profit rose 13.4 percent and its same-store sales increased by 5.3 percent.

 

Leadership Change

Ruby Tuesday Inc.: Jill Golder, current senior vice president of finance at Ruby Tuesday, was promoted to executive vice president and chief financial officer, effective immediately. She replaces CFO Michael Moore, who retires in August.

Photo Credit: Flickr/JeepersMedia

Back Yard Burgers: The company’s chief marketing officer Monte Jump added the role of chief operating officer to his responsibilities

Bob Evans Farms Inc.: Mark Hood was named chief financial officer of Bon Evans Farms, effective immediately. He replaces Paul DeSantis, who resigned in May to pursue other opportunities.

Bloomin’ Brands Inc.: David Pace, previously executive vice president and chief resource officer at Carrabba’s Italian Grill, was promoted to president of the company, replacing Steven Shlemon, who stepped down to take on the roles of president and CEO at Benihana Inc.

Small Planet Foods: Liz Nordlie, who also serves as vice president of General Mills, was promoted to president of Small Planet Foods, a unit of General Mills. She succeeds Michele Meyer, who was named president of the Small Planet Foods’ Meals division.

Nu-Tek Food Science: The company named Brian Boor, previously senior vice president of sales and business administration, its new president and chief operating officer.

Dunkin’ Brands Group, Inc.: Jeff Miller, who has spent over 11 years with Dunkin’ Brands, was named executive chief and vice-president of product innovation.

 

Mergers/Acquisitions

Oracle: In its biggest acquisition deal in five years, Oracle will buy MICROS Systems for $5.3 billion.

Del Taco Holdings Inc.: According to unnamed sources cited in a Reuters report, Del Taco is exploring a sale. The company declines to comment on the report.

Photo Credit: Flickr/ozfan22

Food Management Partners: In a bankruptcy court transaction, the company acquired Furr’s Fresh Buffet and its Dynamic Foods foodservice distribution company. The terms of the deal were not disclosed.

 

More Financial News

El Pollo Loco Holdings Inc.: The company registered for an initial public offering, aiming to raise $100 million to pay off its debt. Neither the number of shares nor the price range were disclosed.

 

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.

Related Links
Darden's Profit Falls and More Industry NewsPriceline Buying OpenTable and More Industry NewsSbarro Emerges from Bankruptcy and More Industry NewsTyson Bids $6.8 billion for Hillshire and More Industry NewsTaco Bell Names New CEO and More Industry News