As Restaurant Finance Monitor's Restaurant Finance and Development Conference approaches, Craveworthy Brands has partnered with New Summit Capital Advisors ("New Summit") to create joint venture, Global Taste Brands, and become the U.S. platform to introduce and franchise international QSR and fast casual brands from China and beyond.
Craveworthy Brands is home to leading concepts such as 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.
Craveworthy, known for its mission to revitalize legacy brands while championing emerging concepts, is stepping boldly onto the global stage in a joint venture with New Summit Capital Advisors, an international merchant bank which partners with top operators. This new venture, named Global Taste Brands, establishes both leading organizations as the exclusive restaurant platform to accelerate the expansion of thriving international concepts throughout the country.
By merging New Summit's expertise in global brand scaling with Craveworthy's deep industry knowledge and operational excellence, the strategic partnership is poised to capture significant market share in the diverse and rapidly evolving American restaurant landscape. It is set to become a powerful entry point for global brands in the U.S., blending multicultural culinary appeal with the scalability of high-demand, turnkey restaurant models.
"This partnership opens a new chapter of growth and value creation for Craveworthy," said Gregg Majewski, CEO and Founder of Craveworthy. "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."
"New Summit is thrilled to partner with Craveworthy, which has built a unique and powerful F&B brand launch platform," added Managing Partner of New Summit, Seth Williams. "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."
Building on the momentum of Craveworthy's partnership with New Summit, Majewski will share insights at RFDC on Monday, November 11 at 12:30 p.m. PT at the Fontainebleau Las Vegas on Level 4 – Azure in opening session, "Pricing and Margin Workshop: How the Leading Brands are Making Money in 3PD."
During this panel, moderated by Bernadette Heier of Food on Demand, Majewski will dive into the strategies leading brands use to navigate third-party delivery pricing, optimize margins and balance both in-store and off-premises profitability in today's fast-evolving market, which are central to Craveworthy's scalable growth and expansion plans.
Investment opportunities are available. To explore how Craveworthy's vision for global development and expansion aligns with your investment strategy, schedule a one-on-one meeting with Gregg Majewski at RFDC in Las Vegas from November 11-13, 2024. Contact invest@craveworthybrands.com.