![]() Major chains like Domino’s and Pizza Hut have also been developing driverless cars for pizza delivery, but the jury’s still out on that technology. Major meat-substitute brands like Beyond Meat and Impossible Foods have also infiltrated fast-food brands. With growing numbers of consumers embracing plant-based diets and shunning products of animal origin, the demand for vegan options is greater than ever-especially within America’s favorite food category, pizza. Touch-free is very important for customers and could be around permanently. Many restaurants are planning for a healthy mix of on- and off-premise in their business models, especially since third-party platforms will make it easier to get food into more customers’ hands.Ĭustomers will still want contactless delivery in 2021, and the demand for touch-free at-the-table ordering will be higher than ever. sign a sales agreement.Like all technology, adoption speed can vary by several factors. CAPTION: Tom Monaghan, founder and owner of more than 90 percent of Domino's Pizza, left, and Mitt Romney of Bain Capital Inc. He also bought the Detroit Tigers in 1983, but sold the baseball team in 1992 to Detroit's other pizza magnate, Little Caesar's founder Mike Ilitch. It was exciting because it showed I really have got some room for improvement and I can really do better." "I realized how bad a person I really am. "It seemed like every bad thing I ever did in my life came through my mind, right from the time I was a little kid," the shy, soft-spoken Monaghan said in a 1994 interview. He also became an outspoken abortion opponent, which resulted in a nationwide boycott of Domino's by the National Organization for Women. In 1989 he took a hiatus from the business for 2 1/2 years to devote himself to Roman Catholic philanthropy.Ī devoted Catholic, he supervised the construction of a cathedral in Nicaragua, built a mission in Honduras, and founded a group of 450 Catholic chief executives who travel to places of Catholic interest.ĭuring his time off, he sold most of his riches, prompted by his reading of the book "Mere Christianity" by C. Monaghan has made several attempts to sell parts of the business over the years, and had asked $1 billion for it in the early 1990s. Monaghan renamed the store Domino's Pizza in 1965, and opened the first franchise in 1967. James later traded his share of the business for a Volkswagen Beetle. The company was founded in 1960 when Monaghan and his brother James borrowed $900 to buy DomiNick's, a pizza store in Ypsilanti. He felt very comfortable that Bain would come to know the business very well and leave management to the experts." "He wanted a high-quality financial investor who was interested in owning the company, not operating it. ![]() "Tom was looking to retire, but he was looking for something very specific," McIntyre said. Monaghan will step down as chief executive but will remain on the board of directors, said Domino's spokesman Tim McIntyre. Kyle Potvin, a spokeswoman for Bain Capital, said Bain will run the company, and Monaghan will not be involved in day-to-day operations. One of Bain's managing directors is Mitt Romney, the son of former Michigan governor George Romney. Monaghan, who owned more than 90 percent of Domino's, is selling nearly his entire stake to Bain Capital Inc., which manages more than $4 billion. ![]() It has about 6,100 stores, 4,400 of them in the United States. "At the age of 61, reflecting on my life and the goals I have yet to fulfill, I have decided to retire from active involvement in Domino's Pizza and devote more time to my charitable endeavors," Monaghan said in a statement.ĭomino's is second only to Pizza Hut in the United States. The purchase price for the nation's second-biggest pizza chain was not disclosed. Domino's Pizza founder Tom Monaghan said today that he is retiring and selling practically the entire company to a Massachusetts investment firm so that he can devote his time to charity. ![]()
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