Stampede Meat's facility required in recapitalization

Angelo, Gordon & Co.’s Net Lease Group announced that it had acquired the headquarters and principal processing and distribution facility of Stampede Meat Inc., located in Bridgeview, Ill., for $14 million. The sale-leaseback was a critical component to and closed simultaneously with the recapitalization of Stampede’s balance sheet.


“Stampede Meat is among the most respected and reliable suppliers in the foodservice space,” said Teddy Kaplan, managing director and co-manager of AG Net Lease. “The facility is the newest and largest steak-cutting facility in the Chicago area and perhaps the cleanest and most state-of-the-art food-processing facility we have seen. We are thrilled to have played such a pivotal role in Stampede’s recapitalization, which has positioned the company to continue to be a leader in its industry even in this difficult economic environment.”


Stampede’s customer base includes national restaurant chains, quick-serve restaurants, foodservice distributors, home-delivery networks and grocery retailers. The company has been a portfolio investment of Fairmont Capital, PNC Mezzanine Capital and Sankaty Advisors since January 2007.


Source: Business Wire

Kids' menus going upscale

Chicken fingers and fries are slowly being phased out by steak, fish and bolder ethnic flavors on kids’ menus. Foodservice consultants Technomic released its 2009 Kids’ Marketing & Menu Report that analyzed children’s menus for the 250 largest chain restaurants as well as leading emerging chains and independent restaurants.


Darren Tristano, executive vice president of Technomic, said that the ability to develop a menu around a local, organic or natural culinary focus is a trademark of independent dining. “Parents who value these attributes in food are beginning to steer their children away from mac-and-cheese and chicken finger entrees in favor of fresh seafood, baked or grilled chicken, organic vegetables and premium cuts of meat. This trend has noticeable trickle-down potential for the Top 250 chains.”


The report showed that 78 percent of the Top 250 chains had kids’ menus, with 88.1 percent of the full-service restaurants and 70.5 percent of the limited-service ones having menus. Pasta, sandwiches and chicken are the most popular entrees, and dips, including barbecue and sweet-and-sour are used to impart flavor and differentiate offerings. Healthier offerings are expanding, including more fruits and vegetables and natural and organic products, and bolder flavors, like chipotle and teriyaki, are becoming more popular.


Source: Technomic Inc.