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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]
Panera Bread: Founder, Chairman and CEO 1999–2010 & 2013–2017; Executive chairman 2010–2012; Chairman and Co-CEO 2012–2013 Act III Holdings: CEO and Managing Partner 2018–present (Chairman, Cava; Chairman, Tatte; Chairman, Life Alive; Chairman, Level99) Title: CEO and Managing Partner (Act III Holdings) Website: ronshaich.com ...
On a per-unit basis, Cava locations are generating $2.7 million in annual sales. Assuming these strong same-store sales persist, average unit volume can hit $3.5 million in five years.
Zoës Kitchen was a Mediterranean Style restaurant chain, and a subsidiary of the Cava Group. [1] Their headquarters were located in Plano, Texas.In 2013, the chain had grown to host over 200 locations across 17 states, [citation needed] however, acquisition by Cava Group resulted in a reduction of Zoe's locations (some replaced by Cava restaurants).
Although profitable, Cava shares are still very expensive, priced at more than 300 times this year's expected per-share earnings of $0.42 and just under 300 times next year's expected $0.50. The ...
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.
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 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. ...