Two Local Restaurant Chains Sold in One Week
Tuesday, April 29th, 2008In the midst of the economic crash that is sending workers straight back home and back to their kitchen cabinets in an attempt to save both gas and food money, two of Columbus’ favorite, and most cherished restaurant chains, have been sold to out of state investors this week.
Yesterday Max & Erma’s, a chain that started with a single bar and grill in German Village, was sold to Pittsburgh firm G&R Aquisitions. The firm paid $4 a share, which is slightly higher than the most recent trading price, and is returning the restaurant to private ownership. This is the first time Max & Erma’s will not be publicly traded since 1982.
Looking at the purchase, the only negative here seems to be that G&R is not a local firm. G&R has expressed its intention to retain all the current employees, while remodeling most of the stores and rehashing the menu, which has all but lost its neighborhood bar & grill roots. G&R intends to refocus the menu, taking the burgers that Max & Erma’s was founded on back to the spotlight.
I say, I’m glad that Max & Erma’s will be returning to their roots. I just hope the promise to maintain the staff holds true and I hope in their quest to eliminate unnecessary menu items that they don’t take away my favorites, the tortilla soup & Laredo steak!
Earlier this week, in a move that must have Dave Thomas turning in his revered grave, Dublin based Wendy’s was also sold, in a multi billion dollar all stock deal, to Atlanta’s Triarc, a firm owned by billionaire Nelson Peltz. Triarc also owns Arby’s, which has locals talking about the Arby’s-Wendy’s merger or about how Arby’s swallowed Wendy’s. Wendy’s has had disappointing sales in recent years.
As far as I can see, Wendy’s has had trouble since Dave Thomas, who was seen as a local celebrity and one of Ohio’s “favorite sons,” passed away. Since Thomas passed away Wendy’s has messed around with the menu, including offering a vanilla Frosty, something Dave said he would never do, eliminated the Big Bacon Classic in favor of of the artery hardening Baconator, closed the original Broad St. Wendy’s. Wendy’s used to be one of the absolute favorite places for Central Ohioans of all ages to grab some great food. As they say, if it ain’t broke, don’t fix it. No wonder Wendy’s is in trouble.
CBS news reported Dave Thomas’ daughter Wendy, the restaurant chain’s namesake, was “devastated” along with the rest of her family. I don’t blame her for feeling that way. I just hope the sale winds up being for the benefit of the company and not a step toward its demise.
With some luck, strong guidance and hopefully a positive turn in the economy, these two local chains can return to their roots and serve up some great food (and hopefully profits) once again.
Columbus, Ohio, OH, Dublin, Wendy’s, Arby’s, Triarc, Mac & Erma’s, G&R Aquisitions, Dave Thomas, Nelson Peltz
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While I am personally against the death penalty (a discussion for another day), I find it interesting that there is such a concern over how a condemned inmate dies. If the state sees fit to kill people, then I think it should be done in the most expedient and cost effective way possible. This only because no one is going to agree to execute the condemned in the same way they killed their victims, which I think is the only truly just way to do it. But Ohio law requires a “quick and painless” death for the condemned–thus the basis for the challenge.
