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James Greco, former Bruegger's CEO, joins Sbarro

January 31, 2012 by Valerie Killifer — Editor, FastCasual.com

Former Bruegger's chief executive James Greco has been named president, CEO of Sbarro Inc.

Greco, who partnered with Sun Capital to acquire Bruegger's in 2003, served as its CEO until the company was acquired by Groupe Le Duff SA in 2011. At the time of his departure, the chain had approximately 300 locations.

The move is an opportunity for Greco, who will work to restore Sbarro's profitability. The pizza/Italian chain, which has more than 1,000 locations across 40 countries, began to prepare for Chapter 11 in April 2011. By mid-May, it had ended the bankruptcy process and was seeking buyers. In November, the company officially emerged from bankruptcy and had a Plan of Reorganization in place designed to reduce the company’s debt by more than 70 percent and provide access to $35 million of new capital from its new ownership group.

Under Greco's leadership, Sun Capital earned a return of 36 percent per year on its investment in Bruegger's. While CEO, Greco successfully turned around the business, produced more than 20 consecutive quarters of positive same-store sales and total-sales growth, and completed numerous smaller acquisitions including the purchase of Timothy's World Coffee's retail brands. In 2009, he was named Operator of the Year by Nation's Restaurant News.

Prior to Bruegger's Bagels, Greco was CEO of Fieldbrook Foods Corporation for seven years, he also served as chief operating officer of Natural Country Farms for five years. Greco has a degree in economics from Georgetown University and a law degree from the University of Miami.

Nicky McGrane, who has been serving as Sbarro's interim president and CEO will be leaving the company to pursue other opportunities. Additionally, J. David Karam, former president of Wendy's International, has agreed to serve as Sbarro's new chairman. The company also has appointed two additional directors to its board: Desmond Hague, CEO of Centerplate, and David Wiggins, a turnaround expert.

"I am looking forward to the opportunity to lead and grow Sbarro," Greco said. "As the company's recent performance demonstrates, this is an iconic brand with a strong foundation upon which we can build."

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