Craveworthy Brands Establishes Joint Venture with New Summit Capital Advisors to Promote Global Restaurant Brands in U.S.

Craveworthy Brands, a multi-brand restaurant company, has partnered with New Summit Capital Advisors to create a joint venture, Global Taste Brands. This venture aims to introduce and franchise international quick service and fast casual brands from China and beyond in the U.S.

Craveworthy Brands is known for housing well-known restaurant concepts like BD's Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Krafted Burger Bar + Tap, Lucky Cat Poke Co., Pastizza Pizza & Pasta, Scramblin' Ed's, Sigri Indian BBQ, Soom Soom Mediterranean, The Budlong Southern Chicken, Wing It On!, and most recently, taim Mediterranean Kitchen and Hot Chicken Takeover.

The joint venture between Craveworthy and New Summit Capital Advisors, an international merchant bank, aims to boost the expansion of successful international restaurant concepts in the U.S. The synergy of New Summit's expertise in global brand scaling and Craveworthy's industry knowledge is expected to capture a significant market share in the evolving American restaurant scene. This venture will offer a platform for global brands to enter the U.S. market, combining multicultural culinary appeal with scalable restaurant models.

Craveworthy's CEO, Gregg Majewski, expressed his excitement about the partnership, stating that it will bring global culinary innovation to American diners and contribute to a more inclusive dining experience. Managing Partner of New Summit, Seth Williams also shared his enthusiasm, highlighting their plan to bring best-in-class global chain restaurant brands to the U.S. and other markets.

In addition to the partnership announcement, Majewski will share insights at the Restaurant Finance Monitor's Restaurant Finance and Development Conference on Monday, November 11. He will discuss strategies for optimizing margins and balancing profitability in the rapidly evolving market.

Investors interested in Craveworthy's global development and expansion can schedule one-on-one meetings with Gregg Majewski at the conference in Las Vegas from November 11-13, 2024.