Monday, Sun Capital Partners Inc., a private investment firm, said that its affiliate has acquired Boston Market Corp., a non-core business unit of McDonald's Corp. (MCD). Terms of the acquisition were not disclosed.
The company has appointed Richard "Rick" Arras as president and CEO of Boston Market, effective immediately. Most recently, Arras served as president, CEO and partner of Wi-Tenn Restaurants LLC.
Arras succeeds Michael Andres, who will be leaving the company to return to McDonald's.
MCD closed Monday's regular trading session at $49.47, down 65 cents or 1.30%.
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