"Ruddell" > wrote in message
...
>
> I keep seeing these commercials on cable tv but we don't have Boston
> Market in Saskatchewan. They look sort of like Swiss Chalet but
> different of course.
>
> Anyone got a rating on BM?
>
>
> --
> Cheers
>
> Dennis
>
> Remove 'Elle-Kabong' to reply
The Boston Market Corp was one of the darlings of Wall Street in the 90's.
The grew like a weed like many other corporations and then imploded. Their
idea was rather simple they had 3 kinds of meat - Ham, Fresh roasted Turket
and Chicken and a wide variety of sides. They were designed primairly as a
Take-Out operation with a few tables inside.
See their takeover histroy below.
Dimitri
http://retailindustry.about.com/libr.../aa120299a.htm
Dated December 2, 1999
Fast food giant, McDonald's Corporation announced on Wednesday that its
Golden Restaurant Operations subsidiary is buying from Boston Chicken, the
majority of the assets of Boston Market restaurants. The $173.5 million,
bottom-dollar deal includes 751 restaurants, franchise rights for an
additional 108 restaurants and certain related liabilities.
The deal is the biggest acquisition in McDonald's history. McDonald's
Corporation Chairman and Chief Executive Officer Jack M. Greenberg commented
on Boston Market, "the brand is well-established, with excellent employees,
quality products, loyal customers, and future growth potential."
"Because of the accomplishments of the employees of the Boston Market system
in putting the business back onto a positive footing, we are committed to
offering employment and career growth opportunities to all Boston Market
restaurant and Support Center employees," said Jeffrey B. Kindler, EVP of
McDonald's, and leader of the McDonald's team managing the acquisition.
Even though McDonald's feels good about the outlook for the Boston Market
brand, it was obvious from other statements by Greenberg that brand alone
didn't sell the burger giant on the deal. The real estate is what made the
difference. Most of the Boston Market sites are in highly desirable
locations, perfect for the ongoing expansion of McDonald's Golden Restaurant
Operations restaurants, Donatos Pizza and Chipotle Mexican Grill. Boston
Market restaurants are located in more than 30 states, with the majority of
sites in the East and Midwest.
The sale, subject to government and bankruptcy court approvals, does not
include Boston Chicken's interest in Einstein/Noah Bagel Corporation.
McDonald's shares closed up $1.50 in composite trading on the New York Stock
Exchange Wednesday, at $46.625 a share.
With current debt obligations totaling more than $900 million in bankruptcy,
Boston Chicken has publicly disclosed for the past year that holders of
Boston Chicken's equity securities will retain no value under a
reorganization plan and Boston Chicken anticipates that its bond holders
will not retain any value under the plan. Boston Chicken's equity and debt
securities will be canceled upon plan confirmation.
http://www.interbrand.com/portfolio_...portfolio=1329
Launched in 1995, Boston Market was, at the time, the most successful IPO in
U.S. history. Since that time, Boston Market has expanded to over 650
company-owned restaurants throughout the U.S. As the company's tagline says:
"We're always cooking," giving families a great alternative to a staying in.