CAVA Group to Buy Zoe’s Kitchen

Zoe’s Kitchen Inc., a fast-casual restaurant group with 261 domestic restaurant locations, has entered into a definitive agreement to be acquired by Cava Group Inc., a fast-growing Mediterranean culinary brand with 66 restaurants.

The combined companies will have 327 restaurants in 24 states throughout the U.S.

Under the terms of the agreement, Zoës Kitchen shareholders will receive $12.75 in cash for each share of common stock they hold. This represents an enterprise value of approximately $300 million.

After closing, Brett Schulman, current CEO of CAVA, will serve as CEO of the combined company and will work closely with the existing leadership teams at Zoës Kitchen and CAVA to oversee their growth and evolution. Ron Shaich will serve as chairman of the combined company.