Four Foods Group (FFG), a restaurant concept incubator and accelerator company based in American Fork, Utah, completed the placement of over $35m of growth capital to fund their expanding operations.
The company has raised funds from various commercial and alternative sources including:
– $18m from Opus Bank,
– $12m from Red Bridge Capital and
– over $7m from other private capital providers.
The funds will be used to expand FFG’s business operations and relationships across multiple brands by utilizing its operating processes, expertise, systems and relationships to accelerate the growth of emerging restaurant brands and concepts.
Led by Andrew K. Smith, Chief Executive Officer, FFG has established teams for in-house real estate, development and construction, facility management and set-up, operations, human resources, recruiting, hiring and training, payroll and benefits administration, IT support, marketing, financial oversight, accounting and investment financing. It provides capital in addition to the support services for the business to grow while allowing the operating partner to maintain significant equity in the business as revenue increases.
Four Foods Group has built and opened 43 Kneaders Bakery & Café restaurants throughout the Western United States with five additional units currently in development. The company, which currently employs over 1,800 employees in multiple states, is projected to surpass over $100 million in revenue in 2016, according to a note.
FinSMEs
26/08/2016