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Cava using $190 M cash influx to expand locations, CPG line

Cava, the Mediterranean fast casual brand that acquired Zoes Kitchen in 2018, has landed $190 million in funding from T. Rowe Price Group with participation from The Invus Group, Declaration Partners, Equilibra Partners Management, SWaN & Legend Venture Partners, Mousse… ....

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Cava Group secures $190M funding for expansion

Latest round seen fueling Zoe’s Kitchen conversions, Cava expansion and packaged goods growth
Cava Group this week said it has received $190 million in a Series F funding round, which the company plans to use to finance the ongoing conversion of Zoe’s Kitchen locations to Cava and to expand Cava into new markets, among other uses.
As previously reported, Cava has been converting Zoe’s, which the fast-casual Mediterranean operator acquired in 2018, to the Cava brand in suburban communities.
“With this round of fundraising, we continue on our mission of serving a brighter future for our guests, our communities and our team members,” Brett Schulman, CEO and co-founder of Cava, said in a statement. “The new infusion of capital will enable expansion of Cava’s footprint through our proven conversion strategy and accelerate investments in technology that enable greater access, drive meaningful scale in digital and off premises sales, and create an ecosyste ....

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CAVA Receives $190 Million Investment to Fuel Expansion

The company s value is almost $1.3 billion, according to reports.
Cava
This year, CAVA will convert more than 50 Zoës Kitchen restaurants into CAVA locations and enter several new markets.
CAVA Group, the parent of CAVA and Zoës Kitchen, announced Tuesday that it received a nearly $200 million investment to bolster restaurant expansion, grow consumer packaged goods, and elevate digital channels.
The company s Series F funding round of $190 million was led by T. Rowe Price Group, with participation from The Invus Group, Declaration Partners, Equilibra Partners Management, SWaN & Legend Venture Partners, Mousse Partners, Revolution Growth, and Lighthouse Investment Partners. The news comes after CAVA closed a $40 million funding round in December 2019. ....

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How Washington DC Became the Fast-Casual Capital of the United States

How Washington DC Became the Fast-Casual Capital of the United States
The District has been an incubator for some of the biggest fast-casual chains in the country.
Image by Maitane Romagosa for Thrillist
From $15 salad spots that have become workday destinations to a now-iconic burger joint with Mid-Atlantic influences, the greater DC region has long been an incubator for fast casual chains and franchises.
The area served as a launchpad for mammoth chains like sweetgreen and Five Guys, while also nurturing smaller businesses like BGR and Elevation Burger that can now be found in cities big and small, as well as in airport terminals and even on the campus quad. Some of these restaurants call DC a microcosm of the United States itself, making it the perfect place to test out a new concept, while others found that the workaholic nature of residents within the nation s capital put their concept to the test and helped them expand to other cities across the country. ....

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How Washington DC Became the Fast-Casual Capital of the United States

How Washington DC Became the Fast-Casual Capital of the United States
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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