KELLY’S ROAST BEEF PLANS TO OPEN MORE NH LOCATIONS
Kelly’s Roast Beef, the iconic Massachusetts eatery, hasn’t yet opened its first franchise restaurant in New Hampshire, but it’s already planning to open several more.
Kelly’s first restaurant in the Granite State on North Broadway in Salem is expected to open in October. Now, Kelly’s says it wants to open 12 more locations in New Hampshire in the next six years. The company didn’t say what locations it’s looking at.
“When we set out to expand across New England, New Hampshire was definitely at the top of our list, so we’re thrilled to be finally opening in Salem next month,” said Neil Newcomb, CEO of Kelly’s Roast Beef Franchising. “Because our brand is so well-known in this region, we’re confident that the Salem location will be successful and create more lifelong fans of Kelly’s.”
Kelly’s, founded in Revere, Mass., in 1951, has been franchising since 2020, and there are now five franchise locations open in the Boston metropolitan area.
HANCOCK LUMBER TO ACQUIRE MADISON LUMBER MILL
Maine-based Hancock Lumber has announced plans to acquire the Madison Lumber Mill in Madison, NH, in a deal that will make the company the largest eastern white pine producer in the U.S.
After the merger is concluded at an expected Sept. 30 closing date, Hancock Lumber’s eastern white pine operations will expand to four mills. The Maine company said that the Madison mill will continue to operate under its Madison Lumber Mill name.
The companies called the merger “a synergistic opportunity” and said Madison Lumber’s employees, manufacturing systems, customer relations and production will remain unchanged.
Madison Lumber Mill is estimated to be the sixth-largest manufacturer of eastern white pine. In addition to producing pine boards and products, the company operates a significant wholesale division. Its co-owners, Kim Moore and Jim Smith, purchased the former International Paper mill in 2001. Hancock Lumber last acquired an eastern white pine operation when the company purchased the Chadbourne Sawmill in Bethel in 2000.
SEC FILES INSIDER TRADING SUIT AGAINST EX-EXEC IN NH COURT
In a suit filed in federal court in Concord, the Securities and Exchange Commission is charging a former vice president at Align Technology Inc. with trading on confidential information from the company.
According to the SEC, the former executive, Todd C. Doucette, 50, made nearly $349,000 in illegal profits by buying Align shares ahead of company earnings announcements in April 2018 and October 2020.
Doucette worked at the Tempe, Ariz.-based company from March 2016 to July 2021, most recently serving as vice president of business transformation for the Americas, according to the suit.
The SEC is seeking an order forcing Doucette to give up all ill-gotten gains as well as pay a civil penalty.
REGAL CINEMA’S OWNER CINEWORLD FILES FOR BANKRUPTCY
Britain’s Cineworld Group, owner of the Regal Cinemas chain in the United States, has filed for bankruptcy protection as the world’s second-largest cinema chain operator struggles to find ways to fix its finances.
There are three Regal Cinemas in New Hampshire: in Concord, Hookset and Newington.
Cineworld is still dealing with the debt it took on in 2017 to fund part of its $3.6 billion purchase of Regal.
