BJ's Restaurants Taps Panera Founder to Support Strategic Plan

Dow Jones

Jan 03, 2025

By Connor Hart

BJ's Restaurants signed an agreement with Ron Shaich's investment firm, Act III Holdings, under which the private-equity firm will support the development of the chain's future vision and strategic plan.

Shaich, who founded Panera Bread and serves as chair of Cava Group's board, serves as CEO of Act III, which invests in emerging restaurant and entertainment brands. In addition to Cava, the company's portfolio includes Tatte Bakery and Cafe, Life Alive Organic Cafe and Level99.

The agreement between BJ's and Act III went into effect Monday and is set to last through May 4, 2027. Financial terms of the deal weren't disclosed.

Under the agreement, Act III personnel and management will collaborate with and support BJ's management on key initiatives or organizational enhancements. Act III will additionally use its owned shares to vote in accordance with the board's recommendations with respect to leadership changes and other proposals submitted to stockholders, according to a regulatory filing Thursday.

Shaich said Act III is confident in the discipline and financial expertise that interim CEO Brad Richmond is bringing to BJ's, as well as impressed by Chief Concept Officer Lyle Tick's vision and strategy to unlock the chain's full potential.

"We fully support their focus and ambition and are excited to reaffirm our commitment to the company," he said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 02, 2025 17:16 ET (22:16 GMT)

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Act III will additionally use its owned shares to vote in accordance with the board's recommendations with respect to leadership changes and other proposals submitted to stockholders, according to a regulatory filing Thursday. \n</p>\n<p>\n  Shaich said Act III is confident in the discipline and financial expertise that interim CEO Brad Richmond is bringing to BJ's, as well as impressed by Chief Concept Officer Lyle Tick's vision and strategy to unlock the chain's full potential. \n</p>\n<p>\n  \"We fully support their focus and ambition and are excited to reaffirm our commitment to the company,\" he said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 02, 2025 17:16 ET (22:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BJ's Restaurants Taps Panera Founder to Support Strategic Plan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBJ's Restaurants Taps Panera Founder to Support Strategic Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-03 06:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Connor Hart \n</p>\n<pre>\n \n</pre>\n<p>\n  BJ's Restaurants signed an agreement with Ron Shaich's investment firm, Act III Holdings, under which the private-equity firm will support the development of the chain's future vision and strategic plan. \n</p>\n<p>\n  Shaich, who founded Panera Bread and serves as chair of Cava Group's board, serves as CEO of Act III, which invests in emerging restaurant and entertainment brands. 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Act III will additionally use its owned shares to vote in accordance with the board's recommendations with respect to leadership changes and other proposals submitted to stockholders, according to a regulatory filing Thursday. \n</p>\n<p>\n  Shaich said Act III is confident in the discipline and financial expertise that interim CEO Brad Richmond is bringing to BJ's, as well as impressed by Chief Concept Officer Lyle Tick's vision and strategy to unlock the chain's full potential. \n</p>\n<p>\n  \"We fully support their focus and ambition and are excited to reaffirm our commitment to the company,\" he said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 02, 2025 17:16 ET (22:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4209","symbol_name":"餐馆","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2500692188","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500692188","pubTimestamp":1735856160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"BJ's Restaurants signed an agreement with Ron Shaich's investment firm, Act III Holdings, under which the private-equity firm will support the development of the chain's future vision and strategic plan.Shaich, who founded Panera Bread and serves as chair of Cava Group's board, serves as CEO of Act III, which invests in emerging restaurant and entertainment brands. In addition to Cava, the company's portfolio includes Tatte Bakery and Cafe, Life Alive Organic Cafe and Level99.The agreement between BJ's and Act III went into effect Monday and is set to last through May 4, 2027. Financial terms of the deal weren't disclosed.Under the agreement, Act III personnel and management will collaborate with and support BJ's management on key initiatives or organizational enhancements. 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In addition to Cava, the company's portfolio includes Tatte Bakery and Cafe, Life Alive Organic Cafe and Level99. \n\n\n  The agreement between BJ's and Act III went into effect Monday and is set to last through May 4, 2027. Financial terms of the deal weren't disclosed. \n\n\n  Under the agreement, Act III personnel and management will collaborate with and support BJ's management on key initiatives or organizational enhancements. Act III will additionally use its owned shares to vote in accordance with the board's recommendations with respect to leadership changes and other proposals submitted to stockholders, according to a regulatory filing Thursday. \n\n\n  Shaich said Act III is confident in the discipline and financial expertise that interim CEO Brad Richmond is bringing to BJ's, as well as impressed by Chief Concept Officer Lyle Tick's vision and strategy to unlock the chain's full potential. \n\n\n  \"We fully support their focus and ambition and are excited to reaffirm our commitment to the company,\" he said. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 02, 2025 17:16 ET (22:16 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}