Fast casual Lemonade said it has received a “significant” investment from Los Angeles-based firm Butterfly as part of a bid to boost the chain's growth.
Details of the investment were not disclosed.
"We are thrilled to be partnering with the Butterfly team, which brings a tremendous amount of industry experience and energy to the Lemonade team,” Lemonade Restaurant Group CEO Alan Jackson said in a statement. “We are confident this investment will help us continue to expand and reach new heights.”
The growth of 22-unit Lemonade has so far been limited to California; however, such an investment will likely bring the chain across state—and national—borders, as hinted in a news release.
The chain two years ago received a capital boost from private-equity firm Kohlberg Kravis Roberts.
Lemonade, which serves up Southern California-inspired cuisine, made headlines last fall amid reports that it would scoop up former locations of Starbucks’ shuttered La Boulange brand. It is currently converting six of those Bay Area locations into Lemonade units.