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Danny Meyer

Financing

Danny Meyer’s second investment fund raises $332M

The restaurateur’s Union Square Hospitality Group closed on its second fund, Enlightened Hospitality Investments, which plans to invest in high-growth companies.

Operations

Danny Meyer temporarily closes some restaurants, mandates boosters amid COVID surge

Seven Union Square Hospitality Group restaurants are closed until later this month and the multi-concept group will be requiring booster shots for eligible employees immediately, with diners requiring a booster starting Jan. 24.

The cash infusion from Enlightened Hospitality Investments will allow the 13-unit Mexican fast casual to add locations and expand its consumer packaged goods business.

Meyer will invest in the owner of Panera Bread, Caribou Coffee and Einstein Bros., and his USHG Acquisition Corp. will become a "cornerstone partner" of the company.

The 70,000-square-foot space houses a huge commissary, R&D kitchen, tasting rooms, a bistro-style dining area for “family meal," offices and more.

The funding round, which includes support from a Danny Meyer-backed fund and others, will help the pandemic-battered 30-unit chain reopen temporarily closed restaurants and double its store count over the next three years.

The acquisition of the digital marketing and commerce platform will help Fiserv expand its tech offerings for restaurants, the company said.

The fast-casual burger chain said it will open its first drive-thru in Maple Grove, Minn., instead of Orlando, as originally planned. Shake Shack said it intends to have 10 drive-thrus by the end of 2022.

The reservation platform partnered with identity company Clear to help restaurants track COVID-19 vaccinations and test results for their employees.

The New York City barbecue restaurant, which had operated for 18 years, was widely credited with launching an urban barbecue renaissance.

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