Industry News | February 3, 2014
CaliBurger Closes Equity Financing to Open U.S. HQ
CaliBurger announced that it has completed an additional equity financing from two U.S.–based venture capital groups. The capital will be used to establish CaliBurger’s headquarters and infrastructure for the U.S. in Washington, D.C. The first restaurant will open in late 2014.
CaliBurger USA will be run by restaurant veteran Rick DeMarco. Rick previously served as an operations executive at The Counter, House of Blues, and California Pizza Kitchen. Over the past year, Rick has worked with the CaliBurger team to establish the supply chain and roll out plan on the East Coast.
CaliBurger USA will offer the made-to-order burgers and chicken sandwiches that it is known for in international markets. Additionally, the Video Walls will feature customized Premium Cali content, including footage of artists and celebrities in foreign markets that love CaliBurger's food and embrace the Cali spirit.
“To our knowledge, CaliBurger will be the first premium burger brand to establish a presence in Asia, the Middle East, and Europe before entering the United States. We believe that CaliBurger can fill a vacuum in the market for a premium burger at a reduced price to its competitors,” DeMarco says. “CaliBurger is also the first better-burger brand with a strong lifestyle component powered by advanced display and mobile technologies.”
CaliBurger began franchising in 2013 through a partnership with Fransmart, the franchise development company behind the growth of brands like Five Guys Burgers & Fries and Qdoba Mexican Grill. Since working with Fransmart, CaliBurger has sold major multiunit international deals in markets like the Philippines, Europe, and the Middle East.
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