Bob Evans Restaurants
 |
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (May 2008) |
 |
|
| Type | Public |
|---|---|
| Industry | Restaurant |
| Founded | Rio Grande, Ohio (1953) |
| Headquarters | Columbus, Ohio, U.S. |
| Key people | Bob Evans, Founder Steven A. Davis, CEO |
| Products | Bob Evans Restaurants Bob Evans Sausage Owens Country Sausage Mimi's Cafe |
| Revenue |  US$1.73B (FY 2010)[1] |
| Operating income | US$106M (FY 2010)[1] |
| Net income | US$70.3M (FY 2010)[1] |
| Total assets |  US$1.11B (FY 2010)[2] |
| Total equity | US$638M (FY 2010)[2] |
| Employees | 49,000 (2009) |
| Website | http://www.bobevans.com/ http://www.mimiscafe.com/ |
Bob Evans Farms, Inc. (NASDAQ: BOBE) is a food service, processing, and retail company based in Columbus, Ohio. The company is named after its founder, Bob Evans (1918–2007).[3] It operates two family dining restaurant chains in the United States, Bob Evans Restaurants and Mimi's Cafe. Its food processing and retail enterprise products are manufactured and sold under the Bob Evans and Owens Country Sausage brand names.
Contents |
[edit] History
The Bob Evans Restaurant chain started from a single truck stop diner near the Bob Evans Farm in Rio Grande, Ohio in 1953. The chain has grown to nearly 570 locations in 23 states, primarily in the Mid-Atlantic, Midwestern, and upper Southern states. All locations are corporately owned, not franchised.
The restaurant chain started after Bob Evans kept hearing patrons comment that his sausage was superior. Bob slaughtered and packaged his pork sausage using a unique recipe, but did not have the capacity to fill large orders. He contracted with his cousin Tim Evans of Evans Packing Co. to package Bob Evans Sausage products. In the early years of The Bob Evans History, Bob was know to have made his way across the Southern Ohio Hills seeking some of the best cuts of meat. He was very well known in a little town along the Ohio River by the name of Coal Grove, Ohio. Where at the local Meat Market & Grocery Store He and Earl Nance created sausage recipies that you still know to this day.
Another relative, Dan Evans, served as CEO until his retirement in 2000.[3]
The company also offers pork products to the retail grocery market, as well as other prepared food products to the grocery and food service segments. The restaurant chain was started because local restaurants would not purchase the high-quality pork sausage the company produced, saying that customers would not pay extra for quality.
The primary theme is one of country living: "Breakfast is served all day."
[edit] Company operations
The company acquired Texas based Owens Country Sausage in 1987. The company branded its otherwise identical restaurants in Texas as Owens Restaurants due to trademark issues. By January 2006, all Owens restaurants were closed.[4]
The company operated a Mexican-themed restaurant called Cantina del Rio in the mid-1990s, a move which Bob Evans called "a disaster."[5]
The Evans family controlled daily operations of the company until 2000 when Dan Evans retired as CEO. After Dan's retirement, Stewart K. Owens (a former officer of the Owens Country Sausage company and later president of BOBE) assumed control of Bob Evans Farms Inc. as CEO. In 2001 he became Chairman of the Board. Company profits faltered under Owens' tenure. In August 2005, after corporate profits had dropped in eight of the previous nine quarters, Owens announced his resignation. Officially, the cause of Owens' departure was "personal reasons" but many analysts believed Owens' departure and Bob Evans disappointing results were more than a mere coincidence. After operating for several months under interim CEO Larry Corbin, the company hired Steven Davis, former president of Long John Silver's, as CEO in May 2006.
The Mimi's Cafe restaurant chain is a wholly owned subsidiary of Bob Evans Farms, Inc., with 144 locations throughout the US. They feature casual dining with a French and New Orleans' flair. Guests dine in one of several themed rooms, such as the Garden, Café, Bistro, Winery or Patio.
Arthur J. Simms (who headed the commissary at MGM Studios in the 1950s), his son Thomas Simms, Brian Taylor, and Paul Kurz opened the first Mimi's Cafe in December 1978 in Anaheim, California. Bob Evans Farms, Inc. purchased the Mimi's Cafe restaurant chain (operating under SWH Corporation) in July 2004 for USD$182 million.[6]
On August 17, 2009, Bob Evans opened a prototype restaurant in Xenia, Ohio.[citation needed] This new restaurant has a more farm-like feel and resembles the Bob Evans farm.
[edit] See also
- Bob Evans (restaurateur)
- List of casual dining restaurant chains
- List of restaurant chains in the United States
[edit] References
- ^ a b c Bob Evans Farms (BOBE) annual SEC income statement filing via Wikinvest.
- ^ a b Bob Evans Farms (BOBE) annual SEC balance sheet filing via Wikinvest.
- ^ a b Lafferty, Mike (21 June 2007). "Bob Evans Dies at 89". The Columbus Dispatch. http://www.dispatch.com/live/content/local_news/stories/2007/06/21/bob_evans.html. Retrieved 21 July 2010.
- ^ Bob Evans Farms Announces Closing of Eight Remaining Owens Restaurants, press release
- ^ Associated Press (21 June 2007). "Bob Evans Obituary". Legacy.com. http://www.legacy.com/NS/Obituary.aspx?pid=89406329. Retrieved 21 July 2010.
- ^ FundingUniverse – Company Histories – SWH Corporation. Retrieved on 2008-11-02.
