Craveworthy Brands Forms Joint Venture Targeting International Brands

Multi-brand restaurant company Craveworthy Brands recently partnered with New Summit Capital Advisors to create a joint venture, Global Taste Brands. The new group will serve as a master franchisee to introduce quick-service and fast-casual brands from China and elsewhere around the globe.

The partnership combines New Summit Capital’s expertise in global scaling with Craveworthy’s operational expertise and platform, which currently includes 14 domestic brands. New Summit has mostly worked in the retail and real estate space, and this will be its first experience in restaurant franchising.

Global Taste Brands is looking to not only serve as an entry point of international concepts into the U.S., but also accelerate the expansion of thriving international concepts throughout the country. The new venture will blend multicultural culinary appeal with the scalability of high-demand, turnkey restaurant models.

“This partnership opens a new chapter of growth and value creation for Craveworthy,” Craveworthy chief executive officer and founder Gregg Majewski said in a statement. “By joining forces with New Summit, we’re building a program that brings global culinary innovation to American diners, expanding our footprint and creating equity in a dynamic landscape. Together, we’re shaping a more inclusive dining experience that resonates across the diverse communities we serve.”

Craveworthy Brands’ portfolio currently includes 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.

“New Summit is thrilled to partner with Craveworthy, which has built a unique and powerful F&B brand launch platform,” New Summit managing partner Seth Williams said in a statement. “We’ll leverage Craveworthy’s capabilities along with our deep knowledge of international commercial real estate and the consumer landscape to bring best-in-class global chain restaurant brands to the U.S. and other markets. We’ll introduce the spirit of craftsmanship found across Asia and other rich cultures to the American audience by providing unmatched cuisine with carefully curated experiences.”

The full article about Craveworthy’s partnership to bring international restaurant brands to the U.S. can be found HERE.