Financing

Sweet Chick gets $5M from Chopt’s parent company

Founders Table Restaurant Group, which also owns Dos Toros, will help the five-unit chicken-and-waffles concept grow in New York City, Los Angeles and beyond.
Sweet Chick
Photo courtesy Sweet Chick

Sweet Chick, a five-unit chicken-and-waffles chain, received a $5 million investment from the parent company of Chopt Creative Salad Company, the company announced Thursday.

The minority stake from Founders Table Restaurant Group will fuel Sweet Chick’s expansion in New York City, Los Angeles and beyond, the chain said.

With the investment, Founders Table CEO Nick Marsh joins Sweet Chick’s board.

New York City-based Sweet Chick was founded in 2013 as a full-service restaurant but shifted into a fast-casual model during the pandemic. Founder and CEO John Seymour said, going forward, all new locations will operate under that model.

The concept, which is also backed by rapper Nas, is a popular spot for brunch and late-night meals. It serves chicken sandwiches, in addition to chicken and waffles, along with salads and several side dishes. The restaurants serve cocktails.

“We are extremely excited to be partnering with Founders Table on taking Sweet Chick to the next level,” Seymour said in a statement. “With this partnership and backing, we look to open more locations to serve our delicious food, build our team and spread even more love the Sweet Chick way.”

Founders Table began in January 2020, after 70-unit Chopt acquired 21-unit Dos Toros Taqueria. The group’s mission is to “create, acquire and cultivate” founder-led restaurant concepts.

Last month, former Bloomin’ Brands CEO Bill Allen was named chairman of the Founders Table board of directors.

Late last year, Founders Table and investment firm Pendulum took a minority stake in Fieldtrip, a two-unit fast-casual rice bowl concept.

“Sweet Chick has two ingredients that embody the spirit of Founders Table,” Marsh said in a statement. “Innovative food, with the best chicken and waffles on the planet, and a unique founder vision driven by John’s creativity. We are excited to be a part of their growth.”

 

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