This popular Mediterranean channel opens 50 new locations this year
The company has obtained a new funding for suburban expansion.
Lamb bowls, hot pita and red pepper houmous might all be coming to a place near you. Cava, the fast-casual chain specialized inA Mediterranean dish With a healthy slope, announced expansion plans for this year, as a parent company provides an investment of $ 190 million in a Funding Fund series.
According toRestaurant BusinessCava will add at least 50 locations to its existing footprint of 105 restaurants during the year. The new restaurants will be converted places of Zoes cuisine, the sister brand of the chain acquired in 2018, and 14 of them are already planned for the opening in the Atlanta region. The company focuses its development on suburban areas and has announced that the ultimate growth goal is to exploit an exorbitant amount of more than 500 outlets by 2025.
RELATED:This chain cafeteria-denominate closing all its sites in August
Fast expansion will be partially made possible through the conversion strategy. According toBloomberg, CEO Brett Schulman stated that turning the restaurants Zoes of cuisine in Cava places, it will take "half the cost, half of the time" and "allows us to instantly make, entry into the market on a scale. a few months, instead of years. »
Cava Group Inc., which is currently estimated at $ 1.3 billion, also plans to use part of the investment funds for the development of "next-generation technologies, lay the groundwork for greater diversification of channels to The future, "he said in a statement. In fact, Shulman credits online presence of the chain for a successful transition of midday orders to the urban space dinner suburb during the Covid-19 pandemic.
Cava products can also be found on tablets of grocery stores. Tardettes and trademark spreads from the chain to several retailers, including Whole Foods and Giant. To learn more about the growth of restaurant marks, seeThe biggest franchise BBQ world expands in a dozen states this yearAnd do not forget toSubscribe to our newsletterTo get the latest news from the restaurant delivered directly to your inbox.
