The 83-unit fast-casual chain known for ‘damn good’ tacos is accelerating growth
The next restaurant chain to go public may be the fast-casual Torchy’s Tacos.
Bloomberg reported last week that the Austin, Texas-based fast-casual chain has hired Morgan Stanley and Bank of America Corp. to explore a proposed initial public offering this year. The report indicated Torchy’s could raise an estimated $300 million and have a valuation of about $1 billion.
Company officials did not immediately respond to requests for comment.
If the IPO comes to fruition, the 83-unit Torchy’s will join a small handful of chains to take the traditional going-public route in recent years, including Muscle Maker Grill, Kura Sushi and multichain operator FAT Brands. Both Blaze Pizza and MOD Pizza have also been rumored for some time to be readying for public offering.
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Untitled, the nearly decade-old Union Square Hospitality Group restaurant attached to the Whitney Museum, is permanently shutting down, according to a USHG spokesperson.
The American art museum is converting the Untitled space into a temporary, quick-serve pop-up spot called the Whitney Cafe, which will be run by Union Square Events, according to the spokesperson. The new grab-and-go cafe will stock a variety of prepared foods, including sandwiches and salads, pastries, coffee, wine, and beer. Union Square Events will also stay involved with the museum as the Whitney’s exclusive catering partner, the spokesperson shared with Eater.
It is not clear how long the Whitney Cafe’s run will last, or what will come next for the space after the pop-up is done.
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USHG s Danny Meyer to be featured in special session of Collective[i] Forecast on Clubhouse
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NEW YORK, March 11, 2021 /PRNewswire/
Collective[i]®, a recognized leader in AI-enabled digital sales transformation, today announced that Danny Meyer, Founder and CEO of Union Square Hospitality Group (USHG) and Founder of Shake Shack, is confirmed to participate in Collective[i] Forecast, a series of live, virtual events, that features the world s preeminent leaders and innovators sharing their knowledge about the innovation that is disrupting and transforming how we work and live.
Collective[i] Forecast featuring Danny Meyer will take place on the audio-only social networking app, Clubhouse, Thursday, March 11, 2021 at 5:30 P.M. EST and will explore the topic: SPACs, Enlightened Hospitality & No Kid Hungry.