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The Italian coffee brand said the private equity firm will be able to help its international expansion.
Cofounder and CEO Zach McLeroy details the investment in this week’s episode of the RB podcast “A Deeper Dive.”
The auction will run through Jan. 14.
The private equity-owned operator will buy the locations in Virginia and West Virginia.
Even facing a winter of additional shutdowns and a potential double-dip recession, investors are betting on restaurants. But only certain sectors, says RB’s The Bottom Line.
T. Rowe Price, D1 Capital Partners, Lone Pine Capital and XN have all invested in the fast-casual taco chain, which plans to expand to 10 more states by 2024.
The burger chain and a consortium of franchisees are bidding for nearly 400 locations. Franchisees will end up with most of the restaurants.
It started when the companies looked at working with one another on technology. Discussions then turned more serious, says RB’s The Bottom Line.
The health-focused concept, which includes restaurants, vending machines and a subscription service, just received $16 million in funding to expand.
The casual dining chain is reopening four units as it emerges from Chapter 11.
These emerging chains are the growth vehicles to watch—the ones poised to be major industry players in the coming years.
Food trends and recipes to keep menus fresh
New restaurants and soon-to-open concepts worth monitoring
RB’s exclusive ranking of the highest-grossing independent restaurants
Peter Romeo highlights the moments restaurateurs miss at their own peril
Ideas from the field you may want to borrow