- The Restaurant Powerhouse to Introduce Leading QSR and Fast Casual Concepts from China and Beyond in Joint Venture, Creating Global Taste Brands
- Craveworthy CEO Presents Opening Session at Restaurant Finance Monitor's Restaurant Finance & Development Conference on November 11
CHICAGO, Nov. 7, 2024 /PRNewswire/ -- Craveworthy Brands ("Craveworthy") – the innovative multi-brand restaurant company and franchisor – announced today that it has partnered with New Summit Capital Advisors ("New Summit") to create joint venture, Global Taste Brands, and become the U.S. platform to introduce and franchise international QSR and fast casual brands from China and beyond.
Craveworthy Brands is home to leading concepts such as BD's Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Krafted Burger Bar + Tap, Lucky Cat Poke Co., Pastizza Pizza & Pasta, Scramblin' Ed's, Sigri Indian BBQ, Soom Soom Mediterranean, The Budlong Southern Chicken, Wing It On! and most recently, taim Mediterranean Kitchen and Hot Chicken Takeover.
Strategic Joint Venture to Propel Growth for International Brands in U.S.
Craveworthy, known for its mission to revitalize legacy brands while championing emerging concepts, is stepping boldly onto the global stage in a joint venture with New Summit Capital Advisors, an international merchant bank which partners with top operators. This new venture, named Global Taste Brands, establishes both leading organizations as the exclusive restaurant platform to accelerate the expansion of thriving international concepts throughout the country.
By merging New Summit's expertise in global brand scaling with Craveworthy's deep industry knowledge and operational excellence, the strategic partnership is poised to capture significant market share in the diverse and rapidly evolving American restaurant landscape. It is set to become a powerful entry point for global brands in the U.S., blending multicultural culinary appeal with the scalability of high-demand, turnkey restaurant models.
"This partnership opens a new chapter of growth and value creation for Craveworthy," said Gregg Majewski, CEO and Founder of Craveworthy. "By joining forces with New Summit, we're building a program that brings global culinary innovation to American diners, expanding our footprint and creating equity in a dynamic landscape. Together, we're shaping a more inclusive dining experience that resonates across the diverse communities we serve."
"New Summit is thrilled to partner with Craveworthy, which has built a unique and powerful F&B brand launch platform," added Managing Partner of New Summit, Seth Williams. "We'll leverage Craveworthy's capabilities along with our deep knowledge of international commercial real estate and the consumer landscape to bring best-in-class global chain restaurant brands to the U.S. and other markets. We'll introduce the spirit of craftsmanship found across Asia and other rich cultures to the American audience by providing unmatched cuisine with carefully curated experiences."
RFDC Opening Session in Las Vegas & One-on-One Meetings with Craveworthy
Building on the momentum of Craveworthy's partnership with New Summit, Majewski will share insights at Restaurant Finance Monitor's Restaurant Finance and Development Conference on Monday, November 11 at 12:30 p.m. PT at the Fontainebleau Las Vegas on Level 4 – Azure in opening session, "Pricing and Margin Workshop: How the Leading Brands are Making Money in 3PD."
During this panel, moderated by Bernadette Heier of Food on Demand, Majewski will dive into the strategies leading brands use to navigate third-party delivery pricing, optimize margins and balance both in-store and off-premises profitability in today's fast-evolving market, which are central to Craveworthy's scalable growth and expansion plans.
Investment opportunities are available. To explore how Craveworthy's vision for global development and expansion aligns with your investment strategy, schedule a one-on-one meeting with Gregg Majewski at RFDC in Las Vegas from November 11-13, 2024. Contact invest@craveworthybrands.com.
For more information about Craveworthy Brands and its concepts, please visit www.craveworthybrands.com.
ABOUT CRAVEWORTHY BRANDS
Craveworthy Brands, the parent company of Bd's Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Hot Chicken Takeover, Krafted Burger Bar + Tap, Lucky Cat Poke Co., Pastizza Pizza & Pasta, Scramblin' Ed's, Sigri Indian BBQ, Soom Soom Mediterranean, Taim Mediterranean Kitchen, Nomad Dawgs, The Budlong Southern Chicken and Wing It On!, is dedicated to invigorating and supercharging legacy brands while nurturing and growing emerging brands. The company brings together diverse, yet complementary brands and an accomplished, veteran leadership team in the growing culinary space. In addition to building and operating leading restaurant brands, Craveworthy Brands is active in the communities it serves and creates exciting career opportunities for its team members. Bridging the distinctive individuality of its concepts with a shared culture and spirit of collaboration, the Company's goal is to create truly unique and craveworthy experiences every day, every shift and at every turn. Learn more about Craveworthy and its brands at CraveworthyBrands.com.
ABOUT NEW SUMMIT CAPITAL ADVISORS
New Summit Capital Advisors is a merchant bank dedicated to collaborating with best-in-class U.S. operating businesses across various asset classes to facilitate the introduction of strategic partners and brands from Asia. Its extensive network and cross-border expertise position New Summit as the ideal partner for navigating the complexities of international markets. New Summit's focus extends beyond traditional advisory services to include the facilitation of long-term strategic initiatives. The bank works closely with its clients to identify and foster relationships with key stakeholders, fostering collaborative ventures and platform companies that programmatically drive mutual benefit. New Summit's core team leverages decades of private equity, investment banking and executive-level operating experience to drive results for its partners. Its commitment to excellence and integrity sets it apart as a trusted guide for navigating international markets and achieving successful and sustainable outcomes.
SOURCE Craveworthy Brands