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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.
Cava already has average unit volumes (AUV) of $2.8 million in Q3, which compares to Chipotle's at $3.2 million. Cava's restaurant-level profit margin was even better than Chipotle's in Q3, at 25. ...
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.
The Root Glass Company originated as Root Glass Works in Vigo County, Indiana. [1] Businessman and Pennsylvania native Chapman J. Root (November 22, 1864 - November 20, 1945) opened the original glass company on May 27, 1901, at Third and Voorhees Streets a year after he moved to Terre Haute, Indiana . [ 2 ]
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.
CAVA PE Ratio data by YCharts. PE = price-to-earnings. PS = price-to-sales. When compared by both revenue and earnings, investors are paying a far higher multiple for Cava Group.