Deal Details
CAVA Completes $365.4 Million Initial Public Offering
Summary
CAVA Group, Inc. (“CAVA”) (NYSE: CAVA), a portfolio company of The Invus Group (“Invus”), recently completed its initial public offering of 16,611,110 shares of its common stock, including the full exercise of the underwriters’ option to purchase 2,166,666 additional shares, at a price to the public of $22.00 per share, generating gross proceeds of approximately $365.4 million. CAVA intends to use the net proceeds from the offering to fund new restaurant openings and for general corporate purposes.
Baird served as a bookrunner on this transaction.
About
CAVA is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale. Rooted in rich Mediterranean heritage, CAVA brings a timeless approach to modern wellness through authentic cuisine and vibrant brand experiences. Guided by their mission, CAVA believes food is a unifier for a more diverse and inclusive world for guests, team members, and their grower and rancher partners, where all are welcome at the table. CAVA’s network currently includes 263 locations across 22 states in the United States as of April 16, 2023. CAVA is headquartered in Washington, DC.The Invus Group, an exclusive investment advisor to Artal International S.C.A., is a global equity investment firm with an evergreen capital structure, operating out of offices in the United States, Europe and Asia. Since its founding in 1985, Invus has focused on empowering entrepreneurs and entrepreneurial teams to transform their industries across both public and private equity investments.
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- Date
- June 2023
- Company
- CAVA Group, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Consumer
- Verticals
-
Multi-Unit, Restaurants & Franchising
- Target Geography
- North America
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