California Centers

MAR 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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CORPORATE ACTIONS March 2018 | California Centers Magazine 19 ACQUISITIONS & MERGERS WKS Restaurant Group, the largest El Pollo Loco franchisee, has acquired Pennant Foods Corp., and its 52 Wendy's operating in Southern California. Lakewood, Calif.-based WKS, which owns hundreds of franchise restaurants across multiple brands, purchased Pennant from funds managed by Brockway Moran & Partners Inc. Terms of the deal were not disclosed. WKS, founded in 1987, is the largest El Pollo Loco and Krispy Kreme franchise group. Arby's Restaurant Group Inc.'s $2.9 billion acquisition of Buffalo Wild Wings was completed in early February, with the new parent company being named Inspire Brands Inc. Inspire Brands is owned by Roark Capital Group of Atlanta. It is led by Paul Brown, who was Arby's CEO before he took on the role as CEO of the whole group, which operates more than 1,700 restaurants and franchises more than 2,900 units as Arby's and Buffalo Wild Wings and R Taco (acquired in 2014 by Buffalo Wild Wings). Jollibee Foods Corp. has agreed to acquire an additional 45 percent of Smashburger for $100 million. The deal will increase Jollibee's ownership stake in the burger chain to 85 percent. Stated Smashburger Co-founder and CEO, Tom Ryan, "Our momentum in 2017, around improved guest experience, iconic and record setting product launches, and innovative marketing, provide JFC a tremendously strong brand to enter the North American market." APPOINTMENTS Progressive Real Estate Partners has added Chris Lindholm as an Investment Sales and Land Specialist. Chris specializes in the representation of buyers and sellers in the acquisition and disposition of retail investment properties and commercial land. He focuses his efforts in the region of the Inland Empire. Before joining Progressive Real Estate, Chris was a commercial architect on projects throughout the U.S., including undeveloped land and the repositioning of existing centers. Jack In The Box Inc. has announced two leadership changes: Marcus Tom has joined the company as Vice President and Chief Operating Officer, and Frances Allen has resigned as Brand President as of February 9 th . The company is taking steps to flatten the organizational structure and Frances graciously suggested the elimination of her position to more quickly support the restructuring of leadership. Tom joined Jack In The Box after serving SVP roles at Caribou Coffee and Einstein Bros. Bagels. Earlier in the year, Jack n The Box hired Lance Tucker as Chief Financial Officer. Chipotle has named former Taco Bell CEO Brian Niccol to the position of Chief Executive, effective March 5 th . Craig Pusher, Executive VP and Chief Legal Officer of Church's Chicken, has been named Chairman of the Board of the National Council of Chain Restaurants, a lobbying body for multi- unit restaurants. He had previously been the Vice Chair of the Board, which is comprised of senior chain restaurant executives. Additionally, David French, Senior VP of Government Relations for the National Retail Federation, of which the NCCR is a division, has been named the NCCR's Executive Director. Domino's Pizza CEO and President Patrick Doyle will step down in June, the company announced in January, after having led the pizza chain through a groundbreaking turnaround over the past eight years. Richard Allison, President of Domino's International, will take over as CEO. Russell Weiner, President of Domino's USA, will be promoted to the newly created position of Chief Operating Officer and President of the Americas. The appointments are effective July 1 st . Blaze Pizza LLC has named Mandy Shaw Chief Financial Officer, succeeding Allen Arroyo, who left the CFO position in December of 2017. The company also announced the following other executive changes: Carolyne Canady has been promoted to President for International, having previously served as the company's Chief Development Officer. Julie Price, previously of Dunkin' Brands Group Inc., has been hired as Vice President of Franchise Sales. Vafa Mansouri was named Director of Food Safety and Quality Assurance; and Garrett Snyder was named Director of Real Estate, to support domestic franchisees in site selection. Snyder was most recently Director of Real Estate for Nekter Juice. Brix Holdings, franchisor of Red Mango, Red Brick Pizza Kitchen Café, and other brands, has promoted Craig Erlich to the position of CEO. He had formerly served as company President and COO since 2016, and has been with the organization since March of 2013. Maya Cinemas North America, Inc. announced the appointment of Jeremy P. Welman as Chief Operating Officer. Welman has over three decades of experience and achievement in the motion picture exhibition industry. Prior to joining Maya Cinemas, Welman served as COO of Cobb Theatre in Birmingham, Alabama. He began his movie theater career with Edwards Theatres in Southern California as an usher while in high school and went on to serve in various management and operations leadership capacities for 12 years. Welman succeeds Frank Haffar, who has elected to retire, having served with Maya since its founding. Haffar continues to act as a consultant for the company, overseeing and advising on the construction of future theater developments in various western states. Marcus & Millichap has hired Scott Holmes as Senior VP and National Director of its retail division. The industry veteran will direct the firm's retail business strategy nationwide. Holmes was most recently a Senior VP at Cole Real Estate Investments Inc.

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