James J. Greco

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James J. Greco
James J. Greco Headshot 6.jpg
James J. Greco in 2012.
Born (1958-01-04) January 4, 1958 (age 56)
New Haven, Connecticut
Residence Boynton Beach, Florida, United States[1]
Nationality American
Alma mater Georgetown University (B.A.)
University of Miami (J.D.)
City University, London (International Studies)
Occupation President and COO of Newk's, Inc.
Website
Newk's

James Joseph Greco (born January 4, 1958) is an American businessman and entrepreneur. Currently, he serves as the President and COO of Newk's Eatery. Prior to joining Newk's, Greco held numerous other executive positions in the food service industry including Chief Executive Officer and President of Sbarro, Chief Executive Officer of the restaurant group Le Duff America, Chief Executive Officer of Bruegger's Enterprises, Inc., Chief Executive Officer of Fieldbrook Farms Corporation, and Chief Operating Officer of Natural Country Farms.[2]

Early Years and Personal Life[edit]

Greco was born in New Haven, Connecticut and grew up in nearby Hamden, Connecticut. He graduated from Hamden High School in 1976, earned a Bachelor of Arts degree in economics from Georgetown University in 1980, and a J.D. from the University of Miami School of Law, in 1983. Additionally, Greco has completed International Studies at City University, London, England.[3]

Greco is a member of the Connecticut Bar Association and the Florida Bar Association. As well as being active on the board of advisors for the Lender School of Business at Quinnipiac University, Greco also serves on the Board of Directors for the Connecticut Food Bank and the Greater New Haven Chamber of Commerce. Greco is the father of two sons,[4][5] and resides in Boynton Beach, Florida with his wife.[6]

Early career[edit]

After graduating from law school, Greco served as a partner in Connecticut-based Greco and Greco law firm from 1983 to 1991, specializing in consultation to and representation of real estate and corporate clients.

Greco executed one of his first turnarounds at Ellington, Connecticut-based Natural Country Farms, a manufacturer of private label and food service fruit juices, where he served as Chief Operating Officer for five years.[7]

Following Natural Country Farms, Greco served for seven years as Chief Executive Officer of Fieldbrook Farms, a $100 million manufacturer of private label ice cream in Dunkirk, New York. A team of investors, led by Greco, took over a failing Fieldbrook Farms and named Greco Chief Executive Officer. As CEO, he successfully designed and executed a strategic plan to turn the company around. Greco's efforts resulted in a doubling of profits and a large increase in productivity.[8]

Bruegger's[edit]

Greco first joined Bruegger's in 2003. Following his arrival the company enjoyed over twenty consecutive quarters of positive same store sales and total-sales growth.[9][10] Additionally, in 2010, Bruegger's announced $254 million in revenue.[11] Under Greco, Bruegger's expanded to operating over 300 bakery cafés in 26 states, the District of Columbia, and Canada.[12] On November 13, 2009, Greco oversaw Bruegger's eleventh and largest acquisition[13] to occur during his tenure at the company when Bruegger's purchased the restaurant holdings of Timothy's World Coffee. Through a wholly owned subsidiary called Threecaf Brands Canada Inc., Bruegger's assumed control of Timothy's three restaurant brands: Timothy's World Coffee, Michel's Bakery Café, and mmmuffins.[14]

On October 5, 2009, Greco was named Restaurant Operator of the Year by the Nation's Restaurant News during the publication's Golden Anniversary Celebration. He was awarded the honor in Dallas, Texas at the 50th anniversary Multi-Unit Foodservice Operators (MUFSO) conference.[15] He was selected by readers of the publication from among six nominees, the others being: Chuck Fallon, president of Burger King North America; Phil Friedman, chairman and chief executive of McAlister's Deli; Jeffrey Harvey, president and chief executive of Burgerville; Randy Kibler, president and chief executive of Bojangles' Famous Chicken 'n Biscuits; and Cameron Mitchell, president and chief executive of Cameron Mitchell Restaurants.[16][17]

Le Duff America[edit]

In March 2011, Groupe Le Duff, a French restaurant group, acquired the Bruegger's chain and its subsidiaries from the investment group Sun Capital Partners, earning Sun Capital a return of 36% per year on its investment and making Groupe Le Duff the second largest bakery café group in the world.[18] Greco was named the CEO of the company's American restaurant holdings, under the name Le Duff America, headquartered in Burlington, Vermont; Dallas, Texas; and Toronto, Canada. Today, Le Duff America is the parent company of the restaurant chains Bruegger's, La Madeleine, Mimi's Cafe, Brioche Dorée, Timothy's World Coffee, Michel's Bakery Café, mmmuffins, as well as several others. The group, under Greco, ran nearly 600 restaurants and annually saw about $450 million in revenue. In December 2011, Greco announced he would be leaving the company at the end of the year to pursue other opportunities.[19] [20]

Sbarro[edit]

In January 2012, Greco joined Sbarro as Chief Executive Officer, President, and member of the Board of Directors.[21] Sbarro, headquartered in Melville, Huntington, New York, is one of the world's leading Italian quick service restaurant chains and the largest "shopping mall-focused" restaurant concept in the world. Sbarro operates more than 1,050 restaurants in over 40 countries.[22] Greco, who is credited by industry experts with the strong performance, growth, and turnaround of the Bruegger's chain, was recruited to Sbarro to lead the company as it continues to grow, innovate, and improve.[23] Greco is confident about Sbarro's prospects. He has designed a short-term strategic plan calling for a focus on “people, place, product and positioning.” [24] Long term, however, Greco plans to shift Sbarro from its current quick-service status into the fast casual arena. Greco's vision is to make Sbarro the preeminent fast-casual Italian brand worldwide, a position that he thinks fits Sbarro well and one which nobody of any size has yet claimed. This will include, among other things, improving the quality and variety of Sbarro's products and ingredients as well as the manner in which they are prepared.[25] This change will also include an increased emphasis on employee hospitality and a shift from its current shopping mall focus to a more store front oriented concept.[26] Greco believes that Sbarro can accomplish these strategic initiatives and own this new position of fast-casual preeminence in a relatively short period of time.[27] Greco left Sbarro in late 2013 to pursue another opportunity.[28]

References[edit]

  1. ^ http://nrn.com/article/having-words-james-greco
  2. ^ http://sbarro.com/news/news.php?id=58
  3. ^ "Sbarro - Management Team". Retrieved 25 March 2013. 
  4. ^ http://www.nationsrestaurantnews-digital.com/nationsrestaurantnews/20091005/
  5. ^ http://nrn.com/article/having-words-james-greco
  6. ^ http://nrn.com/article/having-words-james-greco
  7. ^ http://www.circlepeakcapital.com/op_council_greco.html
  8. ^ http://www.bizjournals.com/buffalo/stories/2000/06/05/story5.html
  9. ^ http://www.fastcasual.com/article/189860/James-Greco-former-Bruegger-s-CEO-joins-Sbarro
  10. ^ http://www.nationsrestaurantnews-digital.com/nationsrestaurantnews/20090518/?pg=64
  11. ^ http://www.nrn.com/breakingNews.aspx?id=375816&menu_id=1368
  12. ^ http://www.eastbayri.com/detail/132318.html
  13. ^ http://www.brueggers.com/about-us/view-article/id/92
  14. ^ http://www.nrn.com/breakingNews.aspx?id=375816&menu_id=1368
  15. ^ http://www.nrn.com/article.aspx?id=373760
  16. ^ http://www.nrn.com/breakingNews.aspx?id=374050
  17. ^ http://www.nrn.com/article.aspx?id=374534
  18. ^ http://www.nrn.com/article/sun-capital-sells-bruegger%E2%80%99s-le-duff-america
  19. ^ http://www.brueggers.com/about-us/view-article/id/147
  20. ^ http://nrn.com/article/leduff-america-co-ceo-james-greco-resigns
  21. ^ http://nrn.com/article/sbarro-names-james-greco-president-ceo
  22. ^ http://www.marketwatch.com/story/sbarro-names-dynamic-new-management-team-to-lead-companys-growth-initiative-2012-01-31
  23. ^ http://www.quickserveleader.com/article/sbarro-lures-greco-new-board-members-italian-eaterys-turnaround
  24. ^ http://nrn.com/article/turnaround-time-sbarro?page=0,1
  25. ^ http://nrn.com/article/sbarros-open-test-units-tweak-menu?page=0,0&NL=NRN-03&Issue=NRN-03_20120409_NRN-03_787&YM_RID=%60email%60&YM_MID=%60mmid%60
  26. ^ http://www.newsday.com/business/inside-long-island-business-1.811933/sbarro-to-move-upscale-report-1.3653107
  27. ^ http://nrn.com/article/turnaround-time-sbarro?page=0,1
  28. ^ http://nrn.com/article/turnaround-time-sbarro?page=0,1