Key Restaurant Industry Updates: McDonald's Franchise Renewal, Nasdaq Warning, TGI Fridays Purchase
Stay up-to-date with the latest news in the restaurant industry. Learn about McDonald's largest franchisee renewal, Nasdaq's warning to Noodles & Company, and TGI Fridays' sale to Mera Global.
Photo by Erik Mclean on Unsplash
Photo by Erik Mclean on Unsplash
McDonald's Largest Franchisee Secures 20-Year Renewal
One of the significant headlines this week in the restaurant industry was the renewal of McDonald's largest franchisee, Arcos Dorados Holdings Inc.'s agreement. As the world's largest independent McDonald's franchisee, Arcos Dorados Holdings Inc., based in Latin America, signed a new 20-year Master Franchise Agreement with the fast-food giant. The new MFA came into effect on January 1, 2025, replacing the previous arrangement. A key feature of the renewed agreement is an additional renewal option at McDonald's discretion for the following 20 years from January 1, 2045.
Nasdaq's Alert to Noodles & Company
In other news, the Nasdaq Stock Market issued a warning to Noodles & Company regarding its share price. The fast-casual noodle chain was notified by Nasdaq that its share price had fallen below the exchange's minimum bid price requirement of $1 per share for more than 30 consecutive business days. This notification puts Noodles & Company in a position of noncompliance with the exchange rules, signaling potential challenges for the company's stock performance and market position.
TGI Fridays Units Acquired by Mera Global LLC
Mera Global LLC, a Mexico-based company, made headlines by successfully acquiring five TGI Fridays units at the Dallas-Fort Worth International Airport and several others in Maryland. The acquisition came through a ruling in TGI Fridays' Chapter 11 bankruptcy case, where Mera Global emerged as the highest bidder with a bid of $34.5 million. This move showcases strategic business decisions in the restaurant industry, demonstrating opportunities for growth and expansion even in challenging market conditions.
Photo by Erik Mclean on Unsplash
Recent Trending Items on NRN.com
Aside from these major stories, several trending items have captured the attention of readers on NRN.com this week. From new menu additions at popular chains like Del Taco, Chick-fil-A, and Dunkin' to insights into the dynamic landscape of the restaurant business, there is a plethora of information available to industry enthusiasts. Stay informed and stay ahead by keeping an eye on the latest developments in the foodservice sector.