Cava Group Inc., the parent company of CAVA restaurants, announced on Monday morning that the group confidentially filed with the Securities and Exchange Commission to go public in the United States. CAVA, the largest restaurant operator in the Mediterranean category in the U.S. restaurant industry, has opened over 200 restaurants since opening its first fast-casual spot in Bethesda in 2011.
In 2006, first-generation Greek Americans Ted Xenohristos, Ike Grigoropoulos, and Dimitri Moshovitis launched the full-service Cava Mezze restaurant in the Traville Gateway shopping center (Rockville), with Moshovitis as executive chef. Following the launch of four additional restaurants, in 2008, Xenohristos, Grigoropoulos, and Moshovitis launched a line of dips and spreads to over 200 stores, including Whole Foods Market. In 2009, Brett Schulman joined them as CEO and co-founder of the fast-casual chain CAVA (originally called Cava Mezze Grill, later rebranded as Cava Grill and then simply as CAVA). The group opened the first CAVA restaurant in Bethesda in January 2011.
Per the press release: Cava Group, Inc. (“CAVA”) announced today that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock.
The total number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC’s review process.