Texas-based fast-casual chain Bellagreen has received nearly $3 million in private equity funding to fuel expansion.
The $2.7 million in funding comes from emerging concepts-focused investment firm Hargett Hunter Capital Partners, which became the majority investor in the six-unit chain in 2016.
The health-focused concept, formerly known as Ruggles Green, has three leases signed in Dallas, a new market for the brand. The chain is eyeing the Southeastern U.S. to expand its geographic footprint by 2020, Jeff Brock, managing partner of Hargett Hunter told Restaurant Business.
Brock says his firm has confidence in Bellagreen because its sales are balanced between the lunch and dinner dayparts and it also sees strong weekend traffic.
Bellagreen expects to secure an unspecified line of credit in the next 30 days for further expansion, Brock says.
Hargett Hunter’s portfolio also includes the health-focused Original ChopShop chain. In Dallas, the two concepts will be located side by side, a configuration Brock says works well whenever possible.
“The concepts are very complimentary,” he says. “They’re not competitive.”