MAD Greens, the Colorado-grown purveyor of premium made to order salads, fresh juices, paninis, wraps, and soups, is staged to nearly double in size thanks to the latest round of investment capital from Colorado-based 9th Street Capital.
The investment will fund the chain’s aggressive expansion plans, including new 2016 openings in Colorado and Arizona and expansion into its newest market, Texas. The concept’s first Austin, Texas, location is slated to open in late February at the Domain, followed by four additional Austin area locations opening in early 2016.
“Expansion has been in the works for a while, however we’ve had to wait for a few stars to align, one of them being enough funding to do it in the manner we want: with strong support for our employees and local farmers and in the best locations,” says MAD Greens cofounder and chief strategy officer Marley Hodgson.
MAD Greens secured its first major investment in 2013 from AC Restaurant Group, a subsidiary of 9th Street Capital, with $5 million in funding and AC Restaurant Group founder Darden Coors assuming the role of MAD Greens CEO.
“We’re not quite two years into our partnership, and it’s going so well we chose to triple our initial investment,” says 9th Street Capital CFO Casey Gebhard.
As a result of the initial investment, MAD Greens opened three Front Range locations and four new restaurants in its first out-of-state market, Arizona. The concept also hired 130 new employees, many of them Colorado-based. Operations were improved as a result of the initial investment and customers benefited from a wholly revamped interior design, a website overhaul, new digital menu screens, and the addition of fresh-blended juice bars.
Gebhard says, “MAD Greens has proven to be what we thought it was: a ‘better-for-you’ company with huge potential for success. Our increased investment will fund an aggressive growth plan across several markets and we know it will deliver great returns for our team and the people of Colorado.”
MAD Greens has provided Colorado with healthy, inspired eats since 2004 when founders Marley Hodgson and Dan Long pioneered the salad concept, now growing in popularity throughout the U.S. The chain continues to employ more than 250 Colorado-based employees, including Salad Artists, managers and corporate staff while remaining singularly committed to local farmers and the Colorado lifestyle.