Yum! Brands continues its frenzy of technological acquisitions underway with its purchase of Dragontail Systems Limited, a kitchen management and delivery technology company, which was ad Wednesday (May 26).
Melbourne-based Dragontail is creating software that uses artificial intelligence (AI) to streamline order management and delivery processes. Technologies include a driver dispatch system, kitchen workflow tracking tools, computer vision food preparation controls, and consumer order tracking, among others.
“With Dragontail, we plan to harness the power of artificial intelligence to accelerate and further improve our delivery technology capabilities, particularly at Pizza Hut, and optimize the end-to-end food preparation process.” Chris Turner, Yum! Brands’ chief financial officer said in a statement.
The news comes following the company’s recently announced acquisition of Tictuk, a chat-based ordering and marketing platform company, and its agreement to purchase artificial intelligence analytics company Kvantum.
These types of technology investments have paid off for the company, with Yum! Brands have record digital sales exceeding $ 5 billion in the first quarter of 2021.
Under the terms of the all-in-cash deal, Yum! The brands will pay around $ 72 million for Dragontail.
FAT Brands signs exclusive agreement with PepsiCo
Brands FAT Inc., the multi-brand parent company of Fatburger, Johnny Rockets and Hurricane Grill & Wings, ad Friday (May 28) that he entered into an exclusive beverage deal with PepsiCo. Soft drinks will vary by brand, with FAT Brands refining the selection based on the distinct brand identity of each restaurant.
“Our global partnership with FAT Brands strengthens our common ability to deliver the best and most modern consumer experiences by enhancing the delicious food range of its restaurants with our wide range of beloved brands.” Hugh roththe chief customer officer for PepsiCo’s global foodservice division said in a statement.
While PepsiCo and FAT Brands already had a partnership in four of the restaurant company’s chains, this agreement extends the partnership to all of the company’s restaurants. The deal announcement follows PepsiCo noting a return to out-of-home consumption as the vaccine rollout serves as a tailwind for the company.
UK restaurant delivery company arrives in US
Foodhub, a food delivery service that operates in UK markets, announced its entry into the US this week. Louisiana press briefing Avocado said the third-party delivery service will aim to partner with restaurants in New Orleans, Baton Rouge and Lafayette.
“We have made fantastic progress in several overseas territories over the past year, and one of our big goals in 2021 is to develop and expand our offering in the United States, starting with Louisiana, ”said the CEO of Foodhub Ardian mula said the exit. “If you look at how quickly we’ve grown in the UK, for example, that will give you an idea of how quickly we as a brand can expand into a new market.”
Group Chief Financial Officer of the company Mohamed Chaudry added that the service is “one of the few multi-channel food ordering solutions to offer a zero percent commission model.”
The company chose to enter the United States via Louisiana due to the similarities Foodhub observed between the state catering market and the UK market in terms of size, population density and availability of independent restaurants. to partner with. The delivery service has developed rapidly since the start of the pandemic, with orders up 42% between April 2020 and April 2021.
National restaurant administration requests state subsidies, permanent allowances
Last week, the Small Business Administration (SBA) announced the end of the application period for the federal Restaurant Revitalization Fund (RRF), which has allocated $ 28.6 billion to restaurants affected by the coronavirus pandemic. Funds fell well short of restaurant demand, unable to meet the needs of even the underserved businesses they had to prioritize. Now the National Association of Restaurateurs calls on state legislatures to create their own funds for local restaurants.
On Wednesday May 26, the association announced its Master plan for reconstruction, urging state governors, mayors and lawmakers to “create a state-based restaurant grant fund” using state relief funds, make alfresco dining and container allocations permanent open and impose restrictions on third-party delivery services, among other requests.
“State and local lawmakers have the power to make a real difference in the recovery of their local industry,” Mike whatleythe National Restaurant Association vice president for state affairs and grassroots advocacy said in a statement. “Decisive action on this proposal would provide essential tools and opportunities for the most affected restaurants struggling to find a new normal.”
He added that such grants could help restaurants meet “some of our long-term obligations” and deal with the “recruiting challenge” the association “expects.[s] will continue into our busiest months later this summer. “
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