Foxtrot Market to Join Forces With Dom's Kitchen & Market
CHICAGO — Foxtrot Market and Dom's Kitchen & Market are uniting their shared vision to redefine food shopping and dining experiences.
The two Chicago-based companies reached an agreement in principle to merge. According to the retailers, the tie-up "is just the beginning of a prosperous partnership that will bring thoughtfully curated products and experiences to consumers."
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 president and chief operating officer through a transition period.
Mike LaVitola, cofounder of Foxtrot, Jay Owen, cofounder and cochairman of Dom's, and Bob Mariano, cofounder and cochairman of Dom's, will continue to hold advisor and board roles within the organization.
[Read more: PHOTO GALLERY: Foxtrot Brings the Modern C-store to Life]
"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."
Williams took the CEO role at Foxtrot in April, as Convenience Store News reported.
"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," Williams said. "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."
According to the companies, the merger will provide fan-favorite food and wines from both brands across all stores. Together, the two will continue to disrupt the food shopping and café landscape while redefining the neighborhood market with a multiformat and e-commerce experience built for the next generation consumer, they added.
Additionally, 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, Texas, 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 added. "In addition to our markets, our café 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.