The mergers & acquisition market for restaurant franchisees and multi-unit restaurant brands has changed dramatically over the past three decades, and Brookwood Associates’ Amy Forrestal has had a front row seat to that evolution.

2019 might be considered an off year for public restaurant chains as only seven companies outperformed the outsized 28.9% return of the S&P 500 benchmark. However, the industry’s stock market benchmark, the Restaurant Finance Monitor Stock index, weighted 70% in quick-serve restaurants and 30% in casual dining ones, returned 16.74%, an otherwise impressive performance.

One of the notable career achievements for Trinity Capital founder and managing partner Kevin Burke is the role he played in helping to develop and broaden what has become a $12 billion national franchise loan securitization market on Wall Street.

Bank of America Merrill Lynch recently hired four executives to expand their Restaurant Group there.

CoreLife Eatery, based in Binghamton, New York, is building a lifestyle brand from the inside out. CoreLife embodies an intersection between “we are what we eat” and “find what works for you.” The company further describes its objective: “Food determines how you feel, how you look, and most importantly, how you perform.” Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

There have been many articles written, sporadically timed, about the impending recession. The timing of such a projection has been challenging. During our Toroso investment committee meetings we too often discuss this risk as well as many others that can affect portfolio outcomes.

Mitsubishi UFJ Financial Group (MUFG) announced it is expanding its Food & Beverage practice by hiring three corporate bankers with extensive experience in the restaurant finance sector.

Fat Brands, Inc. (FAT-NASDAQ CM), the restaurant franchisor of Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Yalla Mediterranean, the Ponderosa and Bonanza Steakhouses, and the recently acquired Elevation Burger, has registered a “best efforts” offering of up to $30 million of preferred stock and warrants.

Kura Sushi USA, a wholly-owned subsidiary of Osaka-based Kura Sushi Japan, filed an S-1 with the Securities and Exchange Commission last week and intends to raise approximately $58 million in an initial public offering. BMO Capital Markets and Stephens Inc. are underwriting the offering.

MOD Pizza, based in Bellevue, Washington was founded in 2008 by Scott and Ally Svenson,. The Svensons had built two successful food service companies while living in England.Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

Len Baccaro is helping franchisees hit the “refresh” button by providing project financing for store remodeling mandates, among other projects.

Brookwood Associates Managing Director Anish Gandhi is a self-described “foodie” who has an avid interest in the product and trends impacting his clientele in the restaurant sector.

Sizzler USA is undergoing a significant management shift. CEO Kerry Kramp is among five executives who exited the iconic West Coast brand early last week. It’s unclear whether they quit or were forced out.

The highlight of Noble Roman’s first quarter report was the first franchised Noble Roman’s Pizza & Pub in Lafayette, Indiana, that opened on May 2. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

When he was a kid, he wanted to grow up and be a pilot or a race car driver. “Something with speed,” said Daniel Nunes with a laugh. “I liked risk.”

“We were looking for an entrepreneurial bank,” said Mike Rozman, CEO and co-founder of online lending platform, BoeFly.