Everbowl, a San Diego-based craft superfood restaurant chain, has raised US$3 million in financing from Serruya Private Equity (SPE).
Founded in 2016, Everbowl has a menu focused on build-your-own craft superfood bowls and smoothies. It currently operates 17 locations in California and is slated to open as many as 45 locations this year.
SPE Managing Director Aaron Serruya said his firm will support Everbowl’s national and international growth.
SPE, which invests on behalf of Canada’s Serruya family, and its 2018 investment in Global Franchise Group, were profiled by PE Hub Canada in December.
Everbowl™ Secures $3M In Funding From Serruya Private Equity
Independently Owned, SoCal Quick Serve Chain Procures Investment to Finance National Expansion
SAN DIEGO, Jan. 29, 2019 /PRNewswire/ — After recently celebrating its 2-year anniversary and 17th store opening, San Diego-based craft superfood chain, Everbowl has secured $3 Million in funding from Toronto-based private equity group, Serruya Private Equity (SPE) by way of their wholly owned subsidiary International Franchise Inc. (IFI). SPE has played an integral role in the success and critical growth of International companies including Pinkberry, Jamba Juice, Yogen Früz, Cold Stone Creamery and many other brands. The fast-casual operation will use the funding to support its aggressive 2019 expansion plans in California, with possible market entry into Arizona, Nevada and other states in the region.
“We are thrilled to be working with SPE and IFI to help fuel our growth. They have a proven track record of massive success working with other brands,” says Everbowl Founder & CEO, Jeff Fenster. “Our brand identity and company culture remain vital to our success, and we are thrilled that this partnership will allow us to facilitate our expansion, achieve our long-term business goals, while remaining true to our core vision.”
Everbowl is fast becoming a quick-serve leader offering a streamlined counter-service menu of no-sugar-added, superfood bases including Acai, Pitaya, Graviola and Acerola, from its production facility in Brazil. A range of other superfood smoothies, oats and salads are also offered. The brand was an attractive investment for SPE because of its unique position in a growing, trend-forward niche category as well as for its emphasis on a vertical supply chain.
“We’re excited to be involved with Everbowl and Jeff Fenster and look forward to helping them expand both nationally and internationally,” says Aaron Serruya, President & CEO of International Franchise Inc. “We’re proud to be a part of a brand that continuously serves high quality, thoughtfully crafted, great tasting treats and snacks that are not only delicious and refreshing, but also good for you!”
Everbowl currently operates 17 locations in San Diego, Riverside, and Orange County and is slated to open as many as 45 locations by the end of 2019. Committed to every community in which it operates, Everbowl hires locally (currently has over 300 employees), adding an additional 15-20 new employees with each new location. All District and Store Leaders have been proudly promoted from within the company.
Established in 2016, Everbowl™ is a Southern California-based quick-serve restaurant with a focused menu of build-your-own craft superfood bowls and smoothies featuring acai, acerola, pitaya, and graviola as the base ingredient along with unlimited fresh fruit toppings and healthy super stuff add-ins. Everbowl encourages consumers to “unevolve™” – to move and eat the way we were meant to – live actively and eat “stuff that’s been around forever™.”
About Serruya Private Equity (SPE)
A global private equity firm focused on transforming companies by developing and implementing strategies that leverage SPE’s existing operational and financial resources. Investing and lending is at the heart of SPE. Widely regarded as the experts in retail, franchising and licensing, SPE plays an important strategic role in the growth of its investee partners.