LOS ANGELES |
LOS ANGELES (Reuters) – Veggie Grill lifted $20 million from stream stakeholders and new investors to accelerate a enlargement and gain on a flourishing recognition of healthy dining options, a Santa Monica, California-based grill association pronounced on Monday.
It is a fourth turn of equity appropriation for a vegetarian grill chain, whose menu includes dishes such as a “All Hail Kale†salad. The privately-held association declined to divulge a valuation.
The investment lands amid flourishing seductiveness in restaurants that put larger importance on healthy food done with mixture such as organic produce, antibiotic-free meats and unfeeling protein. Chains in that organisation operation from inhabitant players such as Chipotle Mexican Grill Inc and Panera Bread Co to upstarts Lyfe Kitchen and True Food Kitchen.
Veggie Grill skeleton to open new restaurants in Los Angeles, Orange County, San Diego and Seattle during a initial half of this year.
The association doubled a grill count to 16 final year and is on lane to double that series again within a subsequent 18 months, executives said.
A estimable apportionment of a collateral from a latest turn came from Brentwood Associates, a California-based private equity firm.
Brentwood has a “substantial†minority position in Veggie Grill and is a largest singular shareholder. Bill Barnum, a Brentwood partner, and Rahul Aggarwal, a handling director, will join Veggie Grill’s house of directors.
(Reporting By Lisa Baertlein in Los Angeles; Editing by Alden Bentley)
