Multi-brand restaurant company Craveworthy Brands has teamed up with New Summit Capital Advisors to create a new joint venture called Global Taste Brands aimed at introducing and franchising international concepts in the United States.
By combining New Summit Capital’s expertise in global scaling with Craveworthy’s operational expertise and platform, which currently includes 14 domestic brands, Global Taste Brands is looking to not only provide an entry point of international concepts into the U.S., but also accelerate their presence to capture market share.
“This partnership opens a new chapter of growth and value creation for Craveworthy,” Craveworthy chief executive officer and founder Gregg Majewski said in a statement. “By joining forces with New Summit, we’re building a program that brings global culinary innovation to American diners, expanding our footprint and creating equity in a dynamic landscape. Together, we’re shaping a more inclusive dining experience that resonates across the diverse communities we serve.”
Craveworthy Brands’ portfolio currently includes BD’s Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Krafted Burger Bar + Tap, Lucky Cat Poke Co., Pastizza Pizza & Pasta, Scramblin’ Ed’s, Sigri Indian BBQ, Soom Soom Mediterranean, The Budlong Southern Chicken, Wing It On! and most recently, Taim Mediterranean Kitchen, and Hot Chicken Takeover.
“New Summit is thrilled to partner with Craveworthy, which has built a unique and powerful F&B brand launch platform,” New Summit managing partner Seth Williams said in a statement. “We’ll leverage Craveworthy’s capabilities along with our deep knowledge of international commercial real estate and the consumer landscape to bring best-in-class global chain restaurant brands to the U.S. and other markets. We’ll introduce the spirit of craftsmanship found across Asia and other rich cultures to the American audience by providing unmatched cuisine with carefully curated experiences.”
Contact Alicia Kelso at [email protected]
