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