Gregorys Coffee was founded in 2006 and has more than 50 locations.Source: Gregorys CoffeeCraveworthy Brands is now investor and managing partner of Gregorys Coffee, a New York City-based coffee chain with dreams of a nationwide footprint.The two companies announced the deal on Thursday. Financial terms were not disclosed.Craveworthy Brands, a fast-growing restaurant holding company, has become a prolific investor since its founding in 2022. Its portfolio includes legacy chains such as Genghis Grill and BD’s Mongolian Grill, emerging concepts including Shaquille O’Neal’s Big Chicken as well as several virtual brands that only offer delivery.Gregorys was founded in 2006. The regional coffee chain is often counted as part of the third-wave coffee trend that focused on quality beans and artisanal craft, along with peers Blue Bottle Coffee and Intelligentsia Coffee. Today, Gregorys has more than 50 locations, but the deal with Craveworthy Brands is meant to help franchise Gregorys and expand beyond its tristate stronghold.Founder Gregory Zamfotis will stay on as president of the brand.”Gregory has built something special: a cult following, a craft product and a clear identity. Our role is to protect that, while layering in the operational firepower to grow thoughtfully,” Craveworthy Brands founder and CEO Gregg Majewski said in a statement.More than two decades ago, Majewski served as CEO of sandwich chain Jimmy John’s, growing it from a couple dozen restaurants to 300 locations by the time he left in 2003. With Craveworthy Brands, he is looking to build a restaurant IP company, similar to the early days of private equity firm Roark Capital, he told CNBC in an interview in May. Roark owns Subway, Dunkin’ parent Inspire Brands and Cinnabon owner GoTo Foods.When looking for potential additions to Craveworthy Brands’ portfolio, Majewski has said he’s targeting brands with fewer than 75 locations and the ability to franchise easily. Today, the company’s holdings include more than a dozen eateries, and its investments range from outright ownership to controlling stakes. With the G …
