Here We Go Again; Another Restaurant Chain Is Sold
It was just a few weeks ago that Arby's announced it was buying Buffalo Wild Wings, and now another restaurant group with multiple West Michigan locations has been sold.USA Today reports Jack in the Box has sold QDoba to Apollo Global Management for a little over $300 million dollars. Jack in the Box bought QDoba in 2003, and grew them into a national chain. But recently they've been stuggling.
Blame it on the avocados:
Qdoba has stumbled in recent quarters. Sales at Qdoba stores open at least a year fell 1.4% in the 2017 fiscal year, including a 3% drop for company-owned locations. The trend worsened in the fourth quarter, with company-owned same-store sales down 4% and overall same-store sales down 2.1%. - USA Today
The company blames the most recents financials on the price of avocados skyrocketing and also employees got raises.
Apollo management said all the appropriate things in announcing the acquisition.
Battle Creek's location recently opened, after the former Wendy's Restaurant on Beckley road was renovated last summer.