Fast-Casual Restaurant Chain Cava Soars Past IPO Target Price In First Day Of Trading by chloesorvino
editerranean restaurant chain Cava surged to a market value of $4 billion after a highly anticipated initial public offering on Thursday.
“There was significant demand from all types of investors — because they see the rare opportunity to have a category-defining brand,” Schulman said.and nearly doubled to $42 per share by 1 p.m. New York time. It all came together when Schulman, a former investment banker who had also been chief operating officer of a nationally distributed snack brand, joined as the CEO and fourth cofounder in 2010. The first location opened in Bethesda, Maryland in 2011. From there, the Washington, D.C.-based Cava quickly became one of the fastest-growing restaurant chains in the U.S., opening a dozen or so locations a year. In 2018, Cava acquired failing chain Zoe’s Kitchen for $300 million.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Mediterranean fast-casual restaurant chain Cava prices IPO at $22 a shareMediterranean fast-casual restaurant chain Cava Group on Wednesday priced its initial public offering of 14.4 million shares at $22 a share.
Leer más »
Fast-casual chain Genghis Grill opening first location in OhioFast casual chain Genghis Grill is opening its first Ohio location on Ohio State's campus next week.
Leer más »
Mediterranean restaurant chain Cava stock soars more than 100% in market debutThe parent company of Mediterranean restaurant chain Cava started trading on the New York Stock Exchange.
Leer más »
Mediterranean restaurant chain Cava stock soars as much as 107% in market debutThe parent company of Mediterranean restaurant chain Cava started trading on the New York Stock Exchange.
Leer más »
Cava restaurant chain soars in stock market debut, hits $4.7B valuationInvestors are warming up to IPOs this year after a volatility-fueled 2022 curbed appetite for new listings and fueled a risk-off sentiment.
Leer más »
Cava Group CFO is confident restaurant chain will be profitable — but she won't say whenCava Group's stock skyrocketed in its trading debut Thursday amid a dearth of new deals.
Leer más »