Papa John’s Accepts $200 Million Investment From Activist Hedge Fund

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“Papa John’s International Inc. is handing over the keys to the embattled pizza chain in exchange for a $200 million investment.

Activist fund Starboard Value LP is supplying the funds and its chief executive officer, Jeffrey Smith, is becoming chairman. He steps into the role vacated last year by Papa John’s founder John Schnatter after reports emerged that he used a racial slur. Schnatter tried to make his own similar deal and said he was shot down.

The infusion comes as the pizza chain also reported preliminary results for the fourth quarter and last year that missed analysts’ estimates. The company had already been in a sales slump before the latest controversy began last summer. Papa John’s plans to use the proceeds to repay debt and invest in the business, it said in a statement. Starboard is making its investment through the purchase of new convertible preferred stock, and the deal includes the option of an additional $50 million investment.

Shares of Papa John’s gained as much as 11 percent to $42.74 in New York trading Monday, the biggest intraday jump since July.”

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Hy-Vee App Aims to Reduce Food Waste and Save Money

“Hy-Vee Inc. has begun piloting a mobile shopping app that helps grocery retailers cut back on food waste. Called Flashfood, and developed by a Toronto company of the same name, the app enables consumers to browse and buy food items nearing their “best before” date at “significantly reduced” prices, Hy-Vee said Friday.

To use Flashfood, customers download the free app (available in iOS and Android versions) and then start shopping deals on items such as meat, dairy, bread and snacks. Purchases are then made directly from their smartphone and picked up at any time from the Flashfood Zone shelves or refrigerators in the store.

The program gives consumers a way to lower their grocery bill and help the environment by reducing unnecessary food waste, according to Flashfood.”

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A New Bill Proposes Foie Gras Ban for NYC

Foie gras could soon be illegal to eat in NYC. A new bill from lower Manhattan councilwoman Carlina Rivera is proposing that the sale of the fatty duck liver be illegal, on the basis of animal cruelty. The bill proposes that violators would be guilty of a misdemeanor, with the potential for $1,000 in fines and one year in jail for each offense. The bills follows the Supreme Court rejecting a challenge on California’s foie gras ban. Brooklyn councilman Justin Brannan backs the bill, telling the Post, “Don’t tell me you’re a fan of the Central Park Mandarin duck but you think foie gras is ok.”

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One of West Africa’s Most Accomplished Chefs Opens an NYC Restaurant Soon

“Former Le Grand Dakar chef Pierre Thiam — who strives to be an ambassador of Africa’s culinary history — will open a Pan-African restaurant in Harlem’s Africa Center next month, where he’ll showcase his native cuisine in fast-casual format.

Teranga, which translates roughly to “hospitality” in Wolof, a language spoken in Senegal, will focus on Senegalese cuisine, as well as foods from Nigeria, Mali, the Ivory Coast, and Guinea in bowl-like formats.

The menu is molded by West African ingredients like sorghum and millet paired with dried fruits for breakfast, as well as fonio, a grain that’ll be served within salads and bowls during lunch and dinner, Thiam told the Times in August.

Vegetable and protein bowls like grilled chicken and caramelized onions over Liberian red rice will also be available, plus other vegetarian options like a sweet potato and black-eyed pea stew. Drinks range from hot and cold African coffees, teas, and juices. The menu is gluten-free; see it in full below.

The location of Thiam’s new restaurant within the cultural center makes sense, as he is a vocal advocate for Africa’s culinary history and even appeared in a 2016 episode of the late Anthony Bourdain’s Parts Unknown in his native Senegal. The restaurant will take up a 2,000-square-foot space in the center, overlooking Central Park.”

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Minimum Wage Hikes in New York City Cause Restaurants to Eliminate Jobs, Cut Hours, Raise Prices

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“New York is known for its incredible food scene, but legislators in the Big Apple may have bitten off more than they can chew with the newest minimum wage hike.

The city’s mandated increase, which took effect on December 31, requires businesses that employ 11 or more people to boost wages from $13 to $15 per hour. But most restaurants operate with the tipped wage, offering servers and bartenders a lower hourly base pay and the opportunity to rake in the rest in tips, which often yields better pay overall. If workers don’t earn enough this way, employers are required to make up the difference.

That tipped minimum just rose from $8.65 to $10 an hour. A 16 percent jump is fairly punishing, considering the industry operates on razor-thin profit margins.

A new study conducted by the New York City Hospitality Alliance lends credence to the idea that substantial increases made to the tipped wage are far costlier than they are beneficial. After surveying 574 restaurants, they found that 2019 looks bleak: 75 percent of full-service establishments plan to cut employee hours, and 47 percent will eliminate jobs entirely in response to the forced minimum wage hikes. That follows closely on the heels of a dreary 2018, when 77 percent of full-service restaurants reduced employee hours and 36 percent cut jobs, both of which were also in response to the mandated wage increases.”

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Why small wine lists may be ideal for restaurants

“Picture yourself in a fancy restaurant known for its wine list. The host hands you a heavy leather volume, or maybe an iPad, to peruse pages upon pages of bottle selections.

Maybe you’re in the mood for something specific, so you navigate to the category you want. From there, you focus on a country, a grape and finally, you make a selection from 10–12 bottles. But if you don’t have a predetermined wine in mind, you’re left guessing what your companions like and what will complement their meals. Sure, the floor sommelier can help, and it’s exciting to have s many options, but it can also add a layer of complication and intimidation.

Enter the small wine list. If a big tome conveys gravitas and leather-bound luxury, a small printed list speaks to elegance, simplicity and ease. Instead of flipping through numerous pages of bottles before you even look at the menu, you can order wine at a glance and focus on your date, friends or family.”

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New NYC restaurants: Danish bakery Ole & Steen’s stateside debut, and more

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“Ole & Steen

“NYC’s Nordic offerings continue to grow beyond destinations such as the Great Northern Food Hall with the stateside debut of this 28-year-old Danish bakery. Find Danish rye breads, pastries and tarts, as well as sweet or savory porridges, open-faced sandwiches, salads and more on the all-day menu. Now open Mon.-Fri. from 6:30 a.m.-10 p.m., Sat.-Sun. from 7:30 a.m.-10 p.m.; 873 Broadway, 929-209-1020”

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