Craveworthy Brands, the portfolio company launched by former Jimmy John’s CEO Gregg Majewski earlier this year, has a powerful new advisor.
Greg Creed, the former CEO of Yum Brands Inc. and Taco Bell, will join the portfolio as the first advisory board member, Craveworthy Brands said Monday. Creed, who retired from the helm of Yum Brands in late 2019, in 2021 founded the consulting firm Creed UnCo.
A marketer by background, Creed is often described as the mastermind behind Taco Bell’s turnaround while leading that brand. After moving to the CEO role for parent company Yum Brands in 2015, he is credited with transforming Yum from being a restaurant operator to an asset-light franchising company.
Creed joins Craveworthy as the multi-brand company plots new growth—and is looking for funding to support Majewski’s vision. The company has put a call for investors on its website, offering Class A units at $2 per share in a private placement.
Creed’s expertise and industry knowledge will bolster Craveworthy’s positioning, Majewski said.
“Greg is someone I’ve followed and looked up to my entire career,” said Craveworthy CEO Majewski in a statement. “He is a titan in this industry with no shortage of opportunities in front of him. The fact that he chose to work with Craveworthy Brands as his first major project since running Yum! is such a massive win for us and speaks volumes about what we’re building. We couldn’t be more thrilled to welcome him as an invaluable member of the team.”
Launched in January, Craveworthy Brands initially included four fast-casual brands. Two acquisitions included Wing It On!, a 12-unit concept founded by Matt Ensero; and Budlong Hot Chicken, a Nashville hot chicken concept created by Jared Leonard.
Developed in house is a casual-dining brand called Krafted Burger + Tap. And this year Craveworthy will launch the Lucky Cat Poke Company as a virtual concept operated out of the kitchens of existing restaurant and ghost kitchens for delivery.
Majewski also brought the Genghis Grill, BD’s Mongolian Grill and Flat Top Grill concepts into the Craveworthy portfolio with plans to reignite franchise growth for those brands. And other acquisitions are also on the horizon, Majewski has hinted.
Creed, in a statement, said Craveworthy holds abundant potential for disruption in the industry.
“The leadership team’s belief in the power of culture and their commitment to empowerment gives me great confidence,” he said. “I eagerly anticipate having a mentoring role and helping Craveworthy Brands exceed the goals it has set out to achieve.”
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