As many big restaurant chains focus on optimizing their back-of-house procedures or providing customers with the most convenient ordering experience, one is taking a wider viewpoint.
The private equity business Butterfly, which invests in everything from restaurants to agriculture, obtained an additional $1 billion in funds, bringing the total assets under its management to almost $4 billion. The information was revealed a few days after the business announced last Tuesday that it had purchased the San Diego, California-based, over 750-location fast-casual restaurant brand Qdoba.
The fast-casual brand will be included into the company’s current restaurant group, Modern Restaurant Concepts, which had less than 50 locations across its two brands, Modern Market Eatery and Modern Restaurant Concepts, before the transaction’s conclusion.
This financing activity suggests that investors are focusing on restaurants that maximize both front- and back-of-house operations while also attempting to manage the whole supply chain. In addition to the restaurant brands, Butterfly also comprises companies that focus on packaged goods, distribution, agriculture and aquaculture, and other areas.
“When we founded Butterfly, we thought the opportunity for a specialized emphasis in the food sector throughout the seed to fork spectrum was substantial, but it has far beyond what we imagined in many areas, and this is only the beginning,” said Adam Waglay, co-founder and co-CEO of the company. In these turbulent times, the food sector has emerged as one of the most important investment areas. We are proud to be at the forefront of this new frontier as a partner of choice, working with such incredible food industry leaders, innovators, and disruptors to drive transformational change and growth where it matters the most.
