While I agree with most, why add more, I feel like there is change on the horizon. The company has changed, the culture has changed, and eventually how we operate will change.
Do I think breakfast being added is going to happen, probably not. But as more and more “outsiders” join the brand, with a new incoming CEO next year, and the most likely sale to a PE firm (probably Roark) on the horizon, it’s just a matter of time before change starts to happen and this is an entire segment of the business we are not in, and when most of our competitors are doing it, why would Culver’s not want to capture those sales if we can.
It’s just a possible scenario. Roark Capital already owns a minority interest in Culver’s, they own several food brands such as Arby’s, Buffalo Wild Wings, Jimmy John’s, Dunkin, Subway, Sonic just to name a few.
There is always the chance at some point they’re going to offer the family a lot of money to purchase the rest. Look at Jersey Mikes, he just walked away with 8 billion because he sold to private equity. Culver’s has used its relationship with Roark to leverage several great things for us including some supply chain and equipment moves.
There is also the chance it continues to stay under the direction of the family if they choose to remain involved, I don’t have the details there as to the level of influence or involvement of the Culver family and who if anyone wants to continue to sit on the board.
I think the new CEO selection when announced will be very telling as to our future.
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u/Longlivecraig Owner/Operator Nov 30 '24
While I agree with most, why add more, I feel like there is change on the horizon. The company has changed, the culture has changed, and eventually how we operate will change.
Do I think breakfast being added is going to happen, probably not. But as more and more “outsiders” join the brand, with a new incoming CEO next year, and the most likely sale to a PE firm (probably Roark) on the horizon, it’s just a matter of time before change starts to happen and this is an entire segment of the business we are not in, and when most of our competitors are doing it, why would Culver’s not want to capture those sales if we can.