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