News Briefs

Shift4 has acquired a majority stake in Vectron Systems AG, a European suppliers of point-of-sale (POS) systems to the restaurant and hospitality verticals. 

Based in Germany, Vectron has 65,000 POS locations across Europe, representing. Shift4 is expected to acquire additional ownership of Vectron through a public tender offer that is expected to conclude within the next month, with a de-listing and formal integration process to occur shortly thereafter.

The acquisition is expected to provide Shift4 with an expansive customer footprint across Europe as well as a distribution network of ~300 POS resellers. As a result of the acquisition, Shift4 believes it will be able to add its integrated payment services to current Vectron customers and products, while also empowering the sales force with a compelling all-in-one POS and payments solution unrivaled in Europe.

“Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality verticals in the US. We see an incredible amount of demand for a similar all-in-one solution across Europe,” states Shift4 CEO Jared Isaacman. “With our integrated payments and SkyTab offering, we believe we have the best solution at the right price point. Vectron will provide valuable local expertise, infrastructure, and the distribution necessary to meet the demand. This acquisition is right out of the Shift4 playbook – enabling us to unlock synergies, expand our distribution, and monetize payments for a large existing install base.”

Completes Revel Systems Acquistion

In addition to the acquisition of Vectron, Shift4 has also completed its previously announced acquisition of Revel Systems. Revel has over 18,000 merchant locations across the United States and internationally which Shift4 estimates represents a $17B+ payment opportunity. Revel also has a direct sales and dealer distribution network which Shift4 believes can be leveraged to accelerate SkyTab distribution both domestically and abroad. 

Shift4 has signed a definitive arrangement agreement to acquire Givex Corp., a global provider of gift cards, loyalty programs and point-of-sale solutions. 

The Arrangement Agreement is subject to customary closing conditions and the transaction is expected to be completed in the fourth quarter of this year. 

With across more than 100 countries, Givex serves a wide range of businesses in various industries, including 7-Eleven, Wendy’s, Best Western, Texas Roadhouse. 

The company offers robust gift card and e-gift solutions as well as customizable loyalty programs, and a point-of-sale (POS) system for various business types, among other value-added services.

 “Givex has a considerable footprint around the world which will dramatically increase Shift4’s overall customer base,” states Shift4 President Taylor Lauber. “At the same time, their gift card and loyalty solutions are second to none and will add significant value for our current customers, creating stickier relationships andh 130,000+ active locations enhancing our overall value proposition. Similar to other deals we have recently completed, this acquisition aligns perfectly with how we like to deploy capital – adding blue-chip merchants at a low customer acquisition cost while delivering additional benefits to our customer base.” 

“The Givex team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” says Don Gray, CEO of Givex. “By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases.”  

Mark Shambura has joined Panera Bread as Chief Marketing Officer. Shambura will lead all aspects of marketing at Panera, including Brand Building, Digital & Loyalty, Product Strategy & Consumer Insights. An accomplished marketing leader with broad expertise in the restaurant industry, Mr. Shambura has previously held marketing leadership roles during pivotal growth periods for top brands including Chipotle, MOD Pizza, and most recently Papa Johns.

"Mark brings an impressive background building brands and leading marketing teams for fast-casual restaurants, and we’re thrilled to welcome him to Panera Bread,” said José Alberto Dueñas, Chief Executive Officer. “As Panera continues to evolve our brand, guided by listening to our guests, Mark’s depth of experience and ability will help drive our growth as a brand that serves great food you feel good about eating.”

Shambura previously served as CMO at Papa Johns, where he led a revitalization of the brand by enhancing its iconic “Better Ingredients, Better Pizza” platform, and developing a more modern, innovative omnichannel approach to transform how Papa Johns appealed to both new and loyal consumers. As Executive Director at Chipotle, Mr. Shambura guided the marketing function through periods of both sustained growth and transition, providing leadership over brand strategy, advertising, digital, social, events/sponsorships, promotions, and field marketing, including playing a key role in spearheading its “Real Ingredients” brand strategy.

“I’m proud to join the Panera Bread team and excited to build on the momentum of the brand's transformation as it continues to evolve in service of our guests,” Mr. Shambura said. “Panera propelled and cemented its position at the top of the fast casual restaurant segment through its promise of high-quality ingredients and freshly prepared food, and I’m thrilled to join a highly talented team to help shape its next chapter.”

Prior to his tenure in the restaurant industry, Mr. Shambura gained extensive marketing agency experience, working with a broad array of top global consumer brands for over a decade. Shambura will report directly to José Alberto Dueñas, Chief Executive Officer, and officially assumed the role of Chief Marketing Officer on July 29, 2024.

After filing for Chapter 11 last week, BurgerFi International has received the court's interim approval to access financing to keep Anthony's Coal Fired Pizza & Wings and the better burger concept BurgerFi's 144 locations open for business.  

On Sept. 16, the Court granted interim approval for the company to immediately access $3.5 million of the debtor-in-possession financing provided by an affiliate of TREW Capital Management. The Court also approved the use of the company's existing employee benefits, cash management systems, and customer programs.

Looking for a Buyer

As part of the financing agreement, the company intends to propose a sale process and bidding procedures for a sale with the support of its lenders. The "second day" hearing seeking final approval for the company's requests is scheduled for October 7

"The company has worked very hard to ensure that the transition into Chapter 11 would have no impact on our valued employees, customers and franchise partners," said Carl Bachmann, Chief Executive Officer of BurgerFi International, Inc. "We are very pleased that we received approval of our key motions to support our continued operations including employee wages and benefits, cash management and customer programs."

The "second day" hearing seeking final approval for the company's requests is scheduled for October 7.

Mirai – which provides hotels with technology and operations support to sell in the direct channel – is proud to announce the impressive results of its collaboration with Princess Hotels & Resorts – a hotel chain that offers luxurious holiday experiences – on the implementation of Google’s Demand Gen campaigns, significantly enhancing Princess Hotels' performance in the competitive luxury travel market. 

The Demand Gen campaigns, executed in Q2 2024 (April to June), delivered significant results for the luxury hotel chain in the hotels implemented in Princess Caribe (Riviera Maya and Punta Cana), showing a result of a 165% increase in qualified leads (CTR) and a 102% increase in profitability (ROAS) compared to last year's same period. Notably, the assist-to-conversion ratio was 19.1%, and the business data showed an impressive 18% growth in revenue and a 14% increase in bookings during this period.

Princess Hotels & Resorts, which has worked with Mirai since 2018, collaborated with Google to leverage the power of Demand Gen campaigns. This AI-driven solution enabled them to effectively target high-potential travelers by combining Google’s advanced AI technology with Princess Hotels’ own audience data. The company personalized the guest journey by creating custom videos and messages, targeting audiences based on website interactions, and maximizing the impact of the campaign. This approach re-engaged potential customers who had shown booking intent, keeping the brand top-of-mind.

“This new campaign, replacing Discovery Ads, offers more immersive ad environments. Partnering with Mirai, we defined a mid and low funnel strategy, boosting traffic, ROAS and revenue”,  said Pere Jordi Estivill, Head of Digital Marketing and Web at Princess Hotels & Resorts. 

Enrique Cano, Digital Marketing Consultant at Mirai, added: “Working with Princess Hotels & Resorts on this project has been a great collaboration. Our focus on maximising conversions through Google’s AI-driven tools and personalised messaging allowed us to deliver exceptional results for the client. This partnership is a testament to the power of combining strategic digital marketing with cutting-edge technology. Princess Hotels & Resorts, sought to attract new guests, generate qualified leads, and drive bookings for their exquisite properties in the Dominican Republic and Mexico. In a highly competitive luxury travel market, they aimed to engage new visitors and re-engage website users who had shown booking intent.”

With new products and a new brand on the horizon, travel technology leader Hotel Engine today announced a $140M Series C growth investment led by Permira Growth Opportunities II, a fund advised by global private equity firm Permira.

Hotel Engine will use the funding to support ongoing product development, including the launch of flight and rental car bookings to its platform. The new booking options will go live in October, making Hotel Engine an all-in-one solution for business travel.

Alongside the new product release, Hotel Engine will change its name to "Engine" to reflect its expanded focus.

“Hotel bookings will always be in our DNA, but we’re out to transform the entire travel experience,” said Hotel Engine CEO Elia Wallen. “We want to become the engine of business travel. Our new name will reflect that, and with Permira’s latest investment, we’ll be better positioned than ever to turn our ambitions into reality.”

Denver-based Hotel Engine has quickly become a go-to option for business travelers thanks to its industry-leading tech and innovative features like consolidated invoices, coverage for incidentals, 24/7 customer support, whole-company trip insurance and free travel-management software to help customers save time and money. Hotel Engine’s contract-free approach with no minimums or agent-assist fees makes adoption easy for businesses of all types and sizes.

Hotel Engine connects business travelers to a robust network of more than 750,000 hotels, 300 airlines and 40 rental car companies. Travel providers are also able to use Hotel Engine’s Partner Hub software platform for free which enables them to provide special offers to business travelers, manage reservations, create marketing campaigns and benchmark against competitors.

“We are proud to have built a platform that benefits everyone,” Wallen said. “In addition to the value we provide to businesses, we also help hotels raise their visibility and build relationships with business travelers worldwide through our Partner Hub platform.”

It’s a winning strategy. Hotel Engine has used only $20M of outside capital to reach its current $2.1B valuation, up from $1.3B at its Series B in November of 2021. The company is profitable, experiencing 70% year-over-year revenue growth at scale, and is on track to book over 10 million room nights this year.

Permira Principal Alex Melamud has joined Hotel Engine’s Board of Directors.

“Hotel Engine is a category leader in more ways than one,” he said. “They’ve figured out how to provide the benefits of managed travel without the downsides such as contracts, minimum spend requirements and extra support fees, and they’ve also created a business that appeals to both travelers and suppliers like hotels, airlines and car rental companies. We are confident that Hotel Engine has miles of room to run, and we’re excited to be part of the journey alongside Elia and his team,” commented Melamud.