Cava (stylized as CAVA) and also referred to as Cava Grill, is

Mediterranean The Mediterranean Sea is a sea connected to the Atlantic Ocean, surrounded by the Mediterranean Basin and almost completely enclosed by land: on the north by Western and Southern Europe and Anatolia, on the south by North Africa, and on the e ...

fast casual restaurant A fast casual restaurant, found primarily in the United States and Canada, does not offer full table service, but advertises higher quality food than fast food restaurants, with fewer frozen or processed ingredients. It is an intermediate concep ...

chain with locations across the United States. Cava is owned by the publicly traded Cava Group, which purchased

Zoës Kitchen Zoës Kitchen is a Mediterranean Style restaurant chain that is a subsidiary of the Cava Group. Their headquarters are located in Plano, Texas, United States. By 2013, the chain grew to include over 200 locations across 17 states; however, the ...

in August 2018. The combined company is the largest restaurant operator in the Mediterranean category in the U.S. restaurant industry. Cava also produces a line of Mediterranean dips, spreads, and dressings that are sold in grocery stores across the US. As of May 2023, all Zoe's Kitchen restaurants have been closed, many have been replaced by Cava restaurants.

History

In 2006, first-generation

Greek Americans Greek Americans ( el, Ελληνοαμερικανοί ''Ellinoamerikanoí'' ''Ellinoamerikánoi'' ) are Americans of full or partial Greek ancestry. The lowest estimate is that 1.2 million Americans are of Greek descent while the highest es ...

Ted Xenohristos, Ike Grigoropoulos, and Dimitri Moshovitis launched the full-service Cava Mezze restaurant in Rockville,

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

, with Moshovitis as executive chef. In 2008, Xenohristos, Grigoropoulos, and Moshovitis partnered with Geoff Maites and Kenny Maites to launch a line of dips and spreads, and grew the product line into over 200 stores, including

Whole Foods Market Whole Foods Market IP, Inc., a subsidiary of Amazon, is an upscale American multinational supermarket chain headquartered in Austin, Texas, which sells products free from hydrogenated fats and artificial colors, flavors, and preservatives. A US ...

. In 2009, Brett Schulman joined them as CEO and co-founder of the fast-casual chain Cava (originally called Cava Mezze Grill, later rebranded as Cava Grill and then simply as Cava). They opened the first Cava restaurant in

Bethesda, Maryland Bethesda () is an unincorporated, census-designated place in southern Montgomery County, Maryland. It is located just northwest of Washington, D.C. It takes its name from a local church, the Bethesda Meeting House (1820, rebuilt 1849), which in ...

, in January 2011. In August 2018, Zoës was acquired by Cava Group, Inc. for $300 Million in cash for each Zoës common share. In April 2021, Cava Group completed a $190 million series F funding round led by

T. Rowe Price T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial inter ...

, bringing its value to nearly $1.3 billion. Since 2015, the company has raised more than $640 million. By December of 2022, the Cava Group had significantly reducing the number of Zoe's Kitchen locations. As of May 2023, all Zoe's Kitchen restaurants have been closed, many have been replaced by Cava restaurants. On June 15, 2023, Cava made its public debut on the NYSE under the symbol CAVA.

Restaurants and expansion

In November 2018, Cava Group bought

, a restaurant chain with more than 250 locations, in a deal worth $300 million, taking the company private and helping Cava expand further into the suburbs. As of August 2021, there are 133 Cava locations. All Cava restaurants are company-owned, and none are franchised. In 2020, Cava Group converted seven of its Zoës Kitchen locations to Cava-branded restaurants and plans to convert 50 more in 2021. It has additional off-premises and digital kitchens dedicated to preparing food for online orders. In November 2021, Cava closed its outpost in

Barracks Row Barracks Row is a commercial strip along 8th Street SE that connects the Navy Yard and Capitol Hill neighborhoods in the Southeast Quadrant of Washington, D.C. south of Eastern Market between M St. SE and Pennsylvania Ave. SE. The area takes i ...

Washington, DC. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, Na ...

, which was the second location it had opened in 2009, to "concentrate on our new concepts and other locations."

References

External links

* {{official website 2011 establishments in Maryland 2023 initial public offerings American companies established in 2011 Companies based in Washington, D.C. Companies listed on the New York Stock Exchange Dips (food) Fast casual restaurants Greek restaurants in the United States Hummus Mediterranean restaurants in the United States Restaurant chains in the United States Restaurants established in 2011 Spreads (food)