Brett Schulman, Ike Grigoropoulos, Dimitri Moshovitis, and Ted Xenohristos based Cava in 2011 to share the “Mediterranean Means” of consuming with others in an accessible fast-casual format.
The primary Cava restaurant opened in Bethesda, Maryland, in 2011.
Cava’s setup is perhaps acquainted if you happen to’ve visited Chipotle. It is a walk-along ordering system, the place two to a few workers put together your order alongside a prep line.
With many substances out there, there are infinite decisions for customizing the proper bowl or pita.
Final month, Cava proprietor Cava Group, introduced plans to go public by submitting a confidential draft of its S-1 prospectus with regulatory authorities.
The IPO market has slowed down over the previous yr. However, Cava joins just a few different chains trying to go public, together with Panera Bread and the proprietor of the Brazilian steakhouse of Fogo de Chão, based on the Wall Avenue Journal.
Supply: Wall Avenue Journal
Cava operates 260 fast-casual eating places in 22 states and Washington DC. Every restaurant’s common yearly gross sales is $1 million.
In 2018, Cava Group purchased Zoës Kitchen in a deal valued at $300 million. The corporate took the publicly-traded Zoës personal and started rebranding shops as Cava.
Supply: Insider