Gregorys Coffee was founded in 2006 and has more than 50 locations.
Source: Gregorys Coffee
Craveworthy Brands is now an investor and managing manner of Gregorys Coffee, a coffee channel based in New York with dreams of a national imprint.
The two companies announced the agreement on Thursday. The financial conditions have not been disclosed.
Craveworthy Brands, a fast -growing restaurant portfolio company, has become a prolific investor since its foundation in 2022. Its portfolio includes inherited channels such as Gengis Grill and Bd’s Mongolian Grill, emerging concepts such as the delivery of Shaquille O’Neal as well as several virtual brands that only offer delivery.
Gregorys was founded in 2006. The regional coffee chain is often counted as part of the coffee trend of the third wave which focused on quality grains and craft crafts, as well as the Blue Bottle and the Intelligentsia Coffee. Today, Gregorys has more than 50 locations, but the agreement with Craveworthy Brands is intended to help Gregorys franchiser and extend beyond his tristate bastion.
The founder Gregory Zamfotis will remain president of the brand.
“Gregory has built something special: a cult, a craft product and a clear identity. Our role is to protect this, while superimposing the operational firepower to develop in a thoughtful way,” said Craveworthy Brandski, Gregg Majowski, in a press release.
More than two decades ago, Majewski was CEO of the Jimmy John’s sandwich chain, by passing it from a few dozen restaurants to 300 locations when he left in 2003. With Craveworthy Brands, he seeks to build an intellectual property company, similar to the first days of the Roark Capital Investment Company, he told CNBC in a CNBC Interview in May. Roark has Subway, Dunkin ‘Parent Inspire Brands and the owner of Cinnabon Goto Foods.
When you are looking for potential additions to the Craveworthy Brands wallet, Majewski said that it was targeting brands with less than 75 locations and the ability to frankly. Today, the company’s assets include more than a dozen restaurants, and its investments range from outright property to the control of issues. With the acquisition of Gregorys, the annual system of the company’s system will cross $ 400 million, a spokesman said.
The latest Craveworthy Brands agreement comes while drinks are increasingly trafficking in the catering industry. Although Starbucks Sales are collapsed, more recent channels such as Dutch bros And 7 breweries have seen growth rush in recent years. Fast food chains like McDonald’s And Yum brands– Taco Bell owns wider drinking menus, with options to personalize and more ways of coffee, refreshments with a flavored cold infusion.
Harborfield Management, Brandhed Hospitality and Restaurant Capital Capital Firm Fund Fund also invested in Gregorys as part of the funding round. Like Majewski and Zamfotis, the general partner of Kitchen Fund is also appointed Greg.