Multi-brand franchisee Thrive Restaurant Group has acquired better-for-you concept Modern Market Eatery.

The fast casual has 29 locations across Colorado, Kansas, Missouri, Texas, Georgia, Indiana, and Massachusetts.

Thrive became Modern Market’s first franchise partner in 2022 when it agreed to a 41-unit deal. The restaurant group purchased three stores in Austin and built two units in the Kansas City metro area.

“We have believed in Modern Market and its people since we first had an opportunity to become a franchisee,” Thrive CEO Jon Rolph said in a statement. “The culinary innovation focused on fresh, healthy options is positioned to become a leader in this space. We are excited to welcome the Modern team into Thrive believing this brand has a very bright future and to help write the next chapter in the story to bring clean, nourishing, and delicious food to our guests across the country.”

Modern Market announced in January that it has 42 units in the pipeline, set to open over the next six or seven years. In 2023, the brand opened three locations, including its first drive-thru store and a value-engineered restaurant that reduced construction costs by 15 percent. The chain had plans to recruit new franchisees in Salty Lake City, Houston, Phoenix, Nashville, Atlanta, Chicago, Minneapolis, Columbus, Tucson, Dallas, and more.

The franchisee operates over 190 restaurants in six states. Its portfolio features Applebee’s, QDOBA, Modern Market, full-service Mexican chain Carlos O’Kelly’s, and its own restaurants, dessert concept Bakesale and daytime eatery Homegrown.

Thrive purchased Modern Market from Butterfly Equity, which also operates QDOBA. The 750-unit Mexican fast casual is pushing to double its unit count over the next several years, and selling off Modern Market will allow it to focus on that endeavor. Thrive will also be part of that expansion; it signed a 30-unit development agreement to open QDOBA units in North Carolina and South Carolina.

Modern Market COO Robin Robison will become president as part of the acquisition terms.

“Jon and the Thrive team have been a great partner, and together I am confident we will guide this brand into the future with a focus on the incredible people who have made this company so special,” Robison said in a statement.

Modern Market was founded in 2009 by Anthony Pigliacampo and Rob McColgan.