Sbarro Emerges from Bankruptcy and More Industry News

Contributor
A roundup of this week’s food industry financial news

After filing for Chapter 11 bankruptcy nearly three months ago, Sbarro LLC emerged with a plan to remove about 85 percent of its outstanding debt.

This week in industry news, Sbarro LLC emerged from potential bankruptcy with a plan to remove about 85 percent of its outstanding debt, Zoe’s Kitchen, Inc. experienced a 47.4-percent increase in revenue in its first earnings report as a public company, and Pilgrim’s Pride Corp. raises the stakes again on Hillshire Brands Co. with a $7.7 billion bid.

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

Earnings                                                                                      

Krispy Kreme Doughnuts, Inc.: The company’s profit rose 21.3 percent in the first quarter.

Photo Credit: Facebook/Krispy Kreme Doughnuts

Zoe’s Kitchen, Inc.: In its first earnings report as a public company, Zoe’s Kitchen, Inc. experienced a 47.4-percent increase in revenue for the first quarter.
 

Leadership Change

Così, Inc.:  Stephen Edwards, executive chairman of Così, Inc., is stepping down after serving two terms in the position.

 

Mergers/Acquisitions

Hillshire Brands Co.: Pilgrim’s Pride Corp. raises the stakes again on Hillshire Brands Co. with a $7.7 billion bid in response to Tyson Foods, Inc.’s $6.8 billion bid last week.

 

New Financial Programs

Panera Bread Co.: The company signed on to a new three-year share repurchase program of up to $600 million, which will replace its existing program that will expire on Aug. 23, 2015.

 

More Financial News

Sbarro LLC: After filing for Chapter 11 bankruptcy nearly three months ago, the company emerged with a plan to remove about 85 percent of its outstanding debt.

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.

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