Shake Shack’s Danny Meyer Buys Stake in Upscale Fast-Casual Chain Tender Greens
The investment, details of which are unknown, will allow the California-based company to consider nationwide expansion.
Danny Meyer, the New York City-based restaurateur whose hospitality group includes Shake Shack, Union Square Cafe, and Gramercy Tavern, has invested a minority stake in Tender Greens, a restaurant chain based on the West Coast.
The chain, which currently has 22 locations in California, is not unlike any other upscale fast-casual establishment, but each kitchen has its own trained executive chef, and the menu can vary depending seasonality and the chef’s areas of expertise.
“I saw it and ate at it and wished it was an idea I had come up with,” Meyer told The New York Times.
“It’s what you get when you broaden the accessibility of good food and make it affordable in a way that appeals to people who are trained in fine dining and don’t want to compromise on quality.”
The size of Meyer’s investment is unknown, but the deal will allow the company to pay back its loans much earlier, as well as focus on national expansion. At the moment, the team is eyeing New York, Chicago, and Austin, Texas.
The Daily Meal has reached out for comment and will update accordingly.