Shake Shack May Go Public; Chain Considering IPO
Union Square Hospitality Group is on the hunt for investment banks to appoint underwriters for the offering, reports Reuters.
The burger chain, which began as a hot dog cart in Madison Square Park in 2001, became a permanent kiosk in the park in 2004.
Since then, Shake Shack has opened locations all the country, including several more in New York City. Internationally, the chain also has locations in Dubai, Kuwait, Lebanon, Moscow, Istanbul, London, and other cities.
Thus far, Shake Shack has refrained from speaking publically on the matter. If the company does indeed pursue an IPO, it will join a string of other chain restaurants that have also gone public in 2014, including Papa Murphy’s, El Pollo Loco, and Zoe’s Kitchen.
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Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.