Zoes Kitchen Sold for $300 Million

Zoes Kitchen has announced a change in ownership. According to a recent article in QSR Magazine, the brand been purchased by Cava Group, Inc. for $300 million. Former Panera CEO, Ron Shaich, will serve as the chairman for the company which now has a combined total of 327 locations across the nation.

“As a close observer of the fast-casual restaurant industry, I am thrilled at the prospect of what Cava and Zoes Kitchen can accomplish together. Together these businesses will create the leading company in one of the most important categories in fast casual today—Mediterranean—with the capabilities to drive extraordinary customer satisfaction and powerful growth,” said Shaich.

Check out the full article here.