Latest round seen fueling Zoe’s Kitchen conversions, Cava expansion and packaged goods growth
Cava Group this week said it has received $190 million in a Series F funding round, which the company plans to use to finance the ongoing conversion of Zoe’s Kitchen locations to Cava and to expand Cava into new markets, among other uses.
As previously reported, Cava has been converting Zoe’s, which the fast-casual Mediterranean operator acquired in 2018, to the Cava brand in suburban communities.
“With this round of fundraising, we continue on our mission of serving a brighter future for our guests, our communities and our team members,” Brett Schulman, CEO and co-founder of Cava, said in a statement. “The new infusion of capital will enable expansion of Cava’s footprint through our proven conversion strategy and accelerate investments in technology that enable greater access, drive meaningful scale in digital and off premises sales, and create an ecosystem of 1:1 engagement with our guests.”