FG Financial, a reinsurance and asset management company, announced Friday the formation of Craveworthy restaurant group in partnership with former Jimmy John’s CEO Gregg Majewski.
Craveworthy is the second project in FG Financial’s newly formed merchant banking division, and includes Chicago-based Budlong Hot Chicken and Krafted Burger + Tap, Raleigh, N.C.-based Wing it On, and newly formed concept, the Lucky Cat Poke Company, which will open its first location in 2023, along with 50 ghost kitchens.
In total the four brands have 19 locations spread across 18 states, with an additional 18 franchised location on the way, along with the opportunity to acquire or form more concepts under the Craveworthy umbrella.
"I’m excited to launch Craveworthy in partnership and with support from the team at FG Financial,” Gregg Majewski, CEO of Craveworthy said in a statement. “Each of our current brands is primed for significant growth, both through additional franchise locations and through Craveworthy-owned locations. In addition, we are cultivating potential acquisition opportunities that can further add to Craveworthy’s platform growth."
Majewski held multiple positions in the c-suite at Jimmy John’s, including CEO, from 1998-2003, where he increased the company’s portfolio tenfold and has since had leadership positions in a restaurant development group and will continue as the current CEO of Mongolian Concepts, which includes Genghis Grill.
"I’ve known Gregg for several years and I’m excited to be partnering with him on Craveworthy,” FG Financial Group CEO Larry Swets said in a statement. “He’s a great operator whose had significant success in his career. We believe he can bring that success to Craveworthy. The formation of Craveworthy is further evidence of the capabilities of our merchant banking team. We look forward to growing Craveworthy into a leading restaurant brand platform."
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