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In November 2018, Cava Group bought Zoës Kitchen, a restaurant chain with more than 250 locations, in a deal worth $300 million, taking the company private and helping Cava expand further into the suburbs. [6] [17] [18] As of August 2021, there are 133 Cava locations. All Cava restaurants are company-owned, and none are franchised. [6]
Shaich believed in people's desire for Mediterranean fast-casual cuisine and the potential of the Cava brand. Shaich conceptualized and led Cava's acquisition of public company Zoe's Kitchen, which was five times larger than Cava and allowed Cava to hyper scale into a category-dominant brand company with 250 locations as of October 2023. [7] [47]
Also, Cava's restaurant count, which had reached 352 at the end of fiscal Q3, rose 21% year over year, and its same-restaurant sales grew 11% during that period.
A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023, in New York City.
Mediterranean chain Cava beat Wall Street estimates Tuesday afternoon, with same-store sales jumping 18.1%, compared to 12.39% expected. The stock vaulted over $172 per share — an all-time high ...
2. Cava is expanding quickly. In the second quarter of 2024, Chipotle opened 52 new locations. Cava opened just 18 new restaurants. But when you compare those numbers to the store bases of each of ...
Cava Group CEO Brett Schulman knows this first hand. In November 2018, the then-privately held Mediterranean fast-casual restaurant chain acquired Zoe’s Kitchen in a $300 million all-cash deal.
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