Add-on Acquisition • Restaurants

Cava Acquires Zoe’s Kitchen

On August 17, 2018, Cava acquired restaurant Zoe’s Kitchen for 300M USD

Acquisition Context
  • This is Cava’s 2nd transaction in the Restaurants sector.
  • This is Cava’s 2nd largest (disclosed) transaction.
  • This is Cava’s 2nd transaction in the United States.
  • This is Cava’s 2nd transaction in Texas.

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M&A Deal Summary

Date August 17, 2018
Target Zoe’s Kitchen
Sector Restaurants
Buyer(s) Cava
Deal Type Add-on Acquisition
Deal Value 300M USD
Advisor(s) Piper Sandler & Co. (Financial)
GreenbergTraurig (Legal)

Target Company

Zoe’s Kitchen

Plano, Texas, United States
Zoe’s Kitchen is a fast-casual restaurant group serving a distinct menu of fresh, wholesome, made-from-scratch, Mediterranean-inspired dishes delivered with warm hospitality. Zoe’s Kitchen was founded in 1995 and is based in Plano, Texas.
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Buyer Overview 1

Buyer

Cava

Washington, District of Columbia, United States

Category Company
Founded 2006
Sector Restaurants
Employees10,300
Revenue 964M USD (2024)
DESCRIPTION

Cava owns and operator of 60 chef-casual restaurants across 10 states and a successful line of chef-crafted dips and spreads sold in more than 250 Whole Foods Market locations and other speciality grocery stores around the country. Cava was formed in 2006 and is based in Washington DC.


Deal Context for Buyer #
Overall 2 of 2
Sector: Restaurants 2 of 2
Type: Add-on Acquisition 2 of 2
State: Texas 2 of 2
Country: United States 2 of 2
Year: 2018 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-17 Zoe s Kitchen

Plano, Texas, United States

Zoe's Kitchen is a fast-casual restaurant chain in the US that offers a Mediterranean-inspired menu with fresh, wholesome ingredients. The menu includes a variety of dishes such as pita sandwiches, salads, bowls, and kabobs, as well as vegetarian and gluten-free options. Zoe's Kitchen also offers catering services for events and gatherings. Zoe's Kitchen was founded in 1995 and is based in Plano, Texas.

Buy $300M