After recently celebrating its two-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.