HomeAbout

TL;DR CNBC


Mediterranean restaurant chain Cava confidentially files for an IPO - TL;DR CNBC

Mediterranean restaurant chain Cava confidentially files for an IPO

Publishing timestamp: 2023-02-06 12:54:35


Summary

Mediterranean restaurant chain Cava has confidentially filed for an IPO. Cava was founded in 2006 and modeled its build-your-own Mediterranean meals after Chipotle Mexican Grill. In 2018, Cava bought Zoes Kitchen and is converting those locations into its own fast-casual restaurants. Cava also sells its dips and spreads at Whole Foods and other grocery stores. Investors have had mixed reactions to fast-casual restaurant chains over the last year, but Cava CEO Brett Schulman said the company was profitable in 2019, which could make the offering more attractive to potential shareholders.


Sentiment: POSITIVE

Tickers: SGCMG

Keywords: sweetgreen incbusiness newsretail industrychipotle mexican grill incbusinessrestaurantsbreaking news: business

Source: https://www.cnbc.com/2023/02/06/cava-files-for-ipo.html


Developed by Leo Phan