Chicago-based food retailers Foxtrot Market and Dom’s Kitchen & Market have reached an agreement in principle to merge the two companies.
Upon closing, the merger of Foxtrot Market and Dom’s Kitchen & Market will fall under a new entity, Outfox Hospitality. Liz Williams will become the CEO, leading all day-to-day operations for the company, with Don Fitzgerald serving as Dom’s Kitchen & Market’s president and COO through a transition period.
Mike LaVitola, Foxtrot’s co-founder, and Jay Owen and Bob Mariano, Dom’s co-founders and co-chairmen, will continue to hold advisor and board roles within the organization.
“Dom’s has long admired the Foxtrot brand, viewing it as an industry trailblazer and a market disruptor,” Owen said.
“Our shared vision centers on bringing the convenience of a market together with the experience of a restaurant into hospitable spaces that are destinations in the communities we serve. We do this by curating high quality goods, preparing expertly crafted meals and delivering warm and friendly service.”
“Foxtrot was created with the vision of building a community of people who love to discover new and interesting products, either by gathering at our stores or having them delivered from our user-friendly app – a goal we’ve proudly accomplished over the past 10 years,” said Williams.
“We’re excited for this new venture with Dom’s Kitchen & Market because we share a common mission of modernizing the way people shop. Merging our two brands will elevate the experience for our customers and move the retail industry forward.”
With both concepts headquartered in Chicago, there are scale advantages and the ability to leverage resources across both formats. At present, the combined brands have 34 locations in the Chicago, Washington, D.C., Dallas and Austin markets.
“We are thrilled to share Foxtrot cult favorites like our gummy candies, savory snacks and unique wines with the Dom’s community and to bring Dom’s delicious, expertly prepared meal options to local Foxtrot stores,” Williams said.
“In addition to our markets, our cafe and coffee businesses are at the heart of our stores, and we look forward to continued growth through our partnership. Together, we will bring together community, convenience and curated culinary to create a unique experience for consumers.”
The merger is expected to close in the fourth quarter of 2023 and is subject to customary closing conditions. Guggenheim Securities is acting as financial advisor to Foxtrot Market, and Latham & Watkins is serving as the legal advisor. Greenberg Traurig LLP is serving as legal advisor to Dom’s Kitchen & Market.
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