Broad Street Licensing Group Food News
This & That
- YUM! Brands will acquire China’s Little Sheep Group, Ltd. The purchase is through a privatization “scheme” that will require court approval in the Cayman Islands (does anyone seriously think the court will demur?). The chain sells Mongolian-style hot pot across China. Its founders, Zhang Gang and Chen Hongkai, will retain minority shareholder status, and will stay on has brand consultants with Mr. Zhang having the title of “Founding Chairman.” Little Sheep is China’s first native restaurant chain success story. Our blog first reported the likely acquisition of Little Sheep by Yum! in May of 2011.
- Longtime restaurant licensing icon Boston Market has entered into an exclusive contract with Overhill Farms, Inc. for frozens including meals, gravies and other products. Boston Market Corporation operates approximately 490 restaurant nationwide. The Boston Market brand has been at retail for the past decade The term of the contract is five years with options for two additional five-year renewals beginning July 1, 2011. Until that time, Boston Market products will continue to be produced by the current licensee, Heinz.