Act III Holdings Joins Investors in Celebrating CAVA’s NYSE IPO
17 6월 2023 - 5:56AM
Business Wire
On June 15, 2023, CAVA Group Inc. ("Cava") (NYSE: CAVA), the
category-defining Mediterranean fast-casual restaurant brand that
brings heart, health, and humanity to food, began trading on NYSE,
having priced its initial public offering of 14,444,444 shares at
$22.00 per share.
Act III Holdings, LLC ("Act III"), led by Ron Shaich, recognized
long ago the power and draw of the Mediterranean category and the
tremendous potential for the Cava brand to dominate that niche in
the market. Act III has been a proud, long-term investor in the
Cava vision. In 2018, Act III architected and led Cava’s successful
acquisition of Zoe’s Kitchen, a publicly-traded Mediterranean
restaurant company three times Cava’s size, to “hyper-phase” Cava’s
growth and allow the brand to quickly reach national scale. Act III
also offered dedicated, strategic support to CEO Brett Schulman to
help ensure that Cava had the organization, capabilities, and
discipline necessary to sustain success as an ever-larger
enterprise well into the future.
Act III Holdings remains Cava's largest non-institutional
shareholder following the public offering. Act III’s Chief
Executive Officer Ron Shaich also serves as Chair of Cava's Board
of Directors.
“Our warmest congratulations go out to Brett Schulman, his
leadership team, the Cava founders, our fellow investors, and the
Cava Board members, all of whose passion and expertise built this
company into what it is today,” said Shaich. “Together, we are
ensuring that Cava fulfills its destiny as an industry
gamechanger.”
He continued: “I cannot express the deep honor and
responsibility our teams feel knowing that so many respected
institutional and individual investors put their confidence in
Cava’s journey. With their support in this new chapter, Cava has
never been better-positioned to live up to its potential as a
category-defining brand, both now and into the future.”
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Act III Holdings
Act III Holdings is an evergreen investment vehicle formed by
Ron Shaich, founder and former Chairman and Chief Executive Officer
of Panera Bread, to build tomorrow’s market-leading restaurant and
entertainment companies. Act III invests in emerging restaurant and
entertainment categories and helps build companies which will
become the dominant brand in the niches they create and define.
Portfolio investments benefit from the industry specific insights
and capabilities of Act III and its partners. Existing portfolio
investments include Cava, Tatte Bakery, Life Alive Organic Café,
Level99, and BJ’s Restaurants. For more information, visit
www.act3holdings.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230616677472/en/
Media Noah Elbogen Partner & Chief Financial Officer
noahelbogen@Act3Holdings.com (347) 452-3481
CAVA (NYSE:CAVA)
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