Capital Funding to Spur Smashburger’s Growth
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Capital Funding to Spur Smashburger’s Growth
- 1. Capital Funding to Spur Smashburger’s Growth
- 2. •Citing Smashburger’s impressive growth and management, Golub Capital recently invested $35 million in capital funding in the better-burger, fast- casual restaurant chain. The funding is the first outside investment into Smashburger since its founding, and it will allow the company to expand at a faster rate. Smashburger began in 2007 with an investment from restaurant developer Consumer Capital Partners.
- 3. •The investment from Golub, an equity firm based in New York, is expected to help Smashburger grow into some of the bigger U.S. cities. The chain is looking to expand in San Francisco, Washington, and Los Angeles, and it hopes eventually to move into markets in Canada, England, and Australia.
- 4. •Golub Capital specializes in consumer, restaurant, and retail businesses, and managing director Charles Riceman said he believes Smashburger is positioned to become a leader in the fast-casual food business.
- 5. •“We were impressed with Smashburger’s industry-leading franchisees, as well as the company’s execution on its business goals to date, and we look forward to being a part of the company’s success going forward,” Riceman said in a Denver Business Journal report.