Fast-growing fast-casual chain Playa Bowls on Monday announced a “strategic investment” from two private investment firms.
The undisclosed cash infusion came from private equity fund Tamarix Equity Partners and Pacific General Holdings, a private investment firm.
“Their operating skills and financial acumen will help Playa Bowls execute our existing growth plan and attract more franchisees over the coming years,” CEO Rob Guiliani said in a statement.
Playa Bowls started six years ago as a sidewalk stand on the Jersey shore. Now a 126-unit chain, its menu features health-focused meals in bowls, including acai, coconut, pitaya, kale and banana. The bowls are topped with fruits, nuts and seeds. The chain also sells smoothies, cold-pressed juices and coffee drinks.
In 2020, Playa Bowls ranked as one of the country’s fastest growing small chains, according to data from Restaurant Business sister firm, Technomic.
The Belmar, N.J.-based franchised concept notched three-year average sales growth of more than 51% and unit growth during the period of 56%, according to Technomic.
Mark Hauser, managing partner at Tamarix, called Playa Bowls a “remarkable business with a product offering that is right for today.”
“It’s a fun and upbeat better-for-you product,” Hauser said in a statement. “We look forward to working with this high-performance team to continue their growth and innovation.”