Tocaya Names CFO Mikey Tanha President
The hospitality company behind popular fresh-casual concept Tocaya Organica, The Madera Group, LLC, said it promoted its Chief Financial Officer Mikey Tanha to President. As CFO, Tanha has overseen the rapid expansion of Tocaya from 4 to 12 units, more than doubling the company's revenues over the last year. Furthermore, under Tanha's leadership, The Madera Group successfully completed a $21 million private equity raise to help further Tocaya's geographic expansion, including Tocaya's first out-of-state location that opened in Scottsdale, Arizona.
"Mikey has been integral to honing and executing our vision for growth," said Tosh Berman, Chief Executive Officer and Co-Founder of The Madera Group. "He is passionate about revolutionizing the fast-casual space with our elevated restaurant design and fresh, sustainable food. We look forward to what's to come under his leadership—both the continued growth in numbers and the further evolution of our brand."
In his new role as President, Tanha will continue Tocaya's aggressive expansion plans. Over the next year, the modern Mexican concept is projected to grow from 12 to 22 locations, including a second out-of-state market to be announced. Tanha aims to once again double annual revenues over the next year, in part by rolling out ancillary revenue sources such as catering and breakfast.
"I'm excited about what the future holds for Tocaya, and I'm thankful for the wonderful team that I get to work with on a day-to-day basis. We are building something very special," said Tanha.
Tanha is also preparing Tocaya for a substantial institutional capital raise in 2019 that will support the company's three-year growth plan.
In 2019, Tocaya has already opened Southern California locations in La Jolla, Westwood, and is one week away from opening in Downtown Los Angeles (801 S. Olive Street). The concept is also gearing up to open in Del Mar at One Paseo (3725 Paseo Place), Toluca Lake (4301 W. Riverside Drive), and Long Beach (2nd & PCH) in California, as well as at Phoenix Esplanade (2525 E. Camelback Road), Union Tempe (110 E. University Drive), and Scottsdale Fashion Square (7014 E. Camelback Road) in Arizona.
To further grow Tocaya as a brand, The Madera Group has also welcomed a new Chief Marketing Officer: Matt Smith. As CMO, Smith oversees The Madera Group's growing marketing department. He leads the development and implementation of all marketing operations including channel, content and advertising strategy, PR and reputation management, new store openings, and catering. Prior to joining The Madera Group, Matt served as a Partner at Simmer Group, a New York City-based full-service creative agency focused on hospitality and fast-casual restaurants.