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December 21, 2018

Deals this week: Red Lobster, Apple Gold Group, Barfresh Food

Red Lobster has sold six restaurant outlets in the US for $25.9m to Four Corners Property Trust (FCPT), a US-based real estate investment trust.

Red Lobster has sold six restaurant outlets in the US for $25.9m to Four Corners Property Trust (FCPT), a US-based real estate investment trust.

Located in Indiana, Mississippi, Kentucky, Delaware, Minnesota, and North Dakota, the properties are currently under a 21-year single triple-net master lease.

Proceeds from the deal will be used for future acquisitions and general corporate purposes.

Based in Orlando, Florida, Red Lobster operates approximately 700 restaurants across the US and Canada and offers a range of seafood options.

Apple Gold Group has completed the sale of 69 own-branded restaurants in North Carolina and South Carolina to Applebee’s Neighbourhood Grill + Bar.

Applebee’s will own and operate the restaurants, while monitoring refranchise opportunities in future.

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Applebee’s is an American restaurant that offers casual dining, classic drinks, and local drafts.

Ready-to-blend beverages producer Barfresh Food Group has agreed to offer its products at 75 military dining facilities in the US beginning this month.

“The company has secured approximately $30m so far in the funding round.”

The company will serve smoothies at various military foodservice programmes, as part of the contract.

Barfresh’s offers drinks smoothies, shakes, and frappes for restaurant chains and the foodservice market in North America.

Chewse has raised $19m in a funding round to expand its corporate catering services in Silicon Valley, California, US.

The company has secured approximately $30m so far in the funding round, which included Foundry Group, 500 Startups, and Gingerbread Capital investors.

Headquartered in Los Angeles, Chewse provides office meals to its customers through its drivers and meal hosts.

Mobile and online ordering technology provider Preoday has entered a deal with Squirrel to launch digital food ordering service.

Squirrel is a London-based restaurant that offers casual healthy food and drinks at South Kensington underground station and at Market Halls Victoria.

The partnership will allow customers to place orders either for delivery or collection through Preoday’s website or mobile app.

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