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New $200M acquisition company eyes QSR segmentNew $200M acquisition company eyes QSR segment

Co-CEOs Doug Jacob and Sandy Beall ready to tap industry changes from coronavirus pandemic

Ron Ruggless, Senior Editor

August 21, 2020

4 Min Read
Fast Acquisition Bell Doug Jacob Michael Lastoria
Leaders from FAST Acquisition Corp. open the New York Stock Exchange Friday with, from left: Kimberly Grant, Sandy Beall, Doug Jacob, Garrett Schreiber and Stacey Cunningham, NYSE president.NYSE

FAST Acquisition Corp., the latest special purpose acquisition company in the restaurant space with a $200 million target, listed on the New York Stock Exchange Friday, and the co-CEOs say they are looking to acquire a brand in the quick-service space.

“We’re looking for quick-serve, fast-food, small-dining-room brands that we can take from good to great — so brands that have actually done OK during COVID,” said Doug Jacob, co-founder of &Pizza and co-CEO of the new blank-check SPAC with Sandy Beall, the founder of the Ruby Tuesday brand.

FAST Acquisition was listed Friday on the NYSE with 20 million units priced at $10 each. The offering is expected to close on Aug. 25, subject to customary conditions.

Jacob, in an interview after the FAST...

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About the Author

Ron Ruggless

Senior Editor, Nation’s Restaurant News / Restaurant Hospitality

Ron Ruggless serves as a senior editor for Informa Connect’s Nation’s Restaurant News (NRN.com) and Restaurant Hospitality (Restaurant-Hospitality.com) online and print platforms. He joined NRN in 1992 after working 10 years in various roles at the Dallas Times Herald newspaper, including restaurant critic, assistant business editor, food editor and lifestyle editor. He also edited several printings of the Zagat Dining Guide for Dallas-Fort Worth, and his articles and photographs have appeared in Food & Wine, Food Network and Self magazines. 

Ron Ruggless’ areas of expertise include foodservice mergers, acquisitions, operations, supply chain, research and development and marketing. 

Ron Ruggless is a frequent moderator and panelist at industry events ranging from the Multi-Unit Foodservice Operators (MUFSO) conference to RestaurantSpaces, the Council of Hospitality and Restaurant Trainers, the National Restaurant Association’s Marketing Executives Group, local restaurant associations and the Horeca Professional Expo in Madrid, Spain.

Ron Ruggless’ experience:

Regional and Senior Editor, Informa Connect’s Nation’s Restaurant News and Restaurant Hospitality (1992 to present)

Features Editor – Dallas Times Herald (1989-1991)

Restaurant Critic and Food Editor – Dallas Times Herald (1987-1988)

Editing Roles – Dallas Times Herald (1982-1987)

Editing Roles – Charlotte (N.C.) Observer (1980-1982)

Editing Roles – Omaha (Neb.) World-Herald (1978-1980)

Email: [email protected]

Social media:

Twitter@RonRuggless

LinkedIn: www.linkedin.com/in/ronruggless

Instagram: @RonRuggless

TikTok: @RonRuggless

 

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