In an unusual transaction for an emerging chain, fast-casual concept Everbowl announced a partnership with private equity firm Sloan Capital to open 50 restaurants in Texas.
Sloan will serve as Everbowl’s area development partner to grow the health-focused brand in Texas, starting with a unit in Dallas slated to open later this month, the San Diego-based chain said in a press release.
Everbowl did not immediately respond to a Restaurant Business request for more details on the deal.
“Everbowl fits our profile of desirable partners who are making people’s lives easier and our world better,” Sloan Capital founder Justin Sloan said in a statement.
Founded in 2016, Everbowl opened its 46th restaurant last month. During the pandemic, the concept made a major shift: It switched from being entirely company owned to mounting an aggressive franchising campaign.
The chain, which sells customizable bowls made with acai, pitaya, matcha, chia and more, has said it intends to open 12 to 15 franchised units each year.
Everbowl received a $3 million investment from Serruya Private Equity in 2019 and retired NFL star Drew Brees became an investor and franchisee earlier this year.
Sloan Capital is also slated to back Everbowl’s first food truck, scheduled to begin operating in Houston next month.
“Situating the initial franchise in an area with a dynamic community of growing families and active business professionals where multiple generations socialize and tourists gather makes healthy eating decisions easier for everyone,” Everbowl founder and CEO Jeff Fenster said in a statement.
With three-year average sales growth of 57.6%, Everbowl ranked among the country’s fastest growing small chains this year.
Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.