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Veggie Grill Snacks On $22M Equity Round

2016-10-26
SANTA MONICA, CA, Premium fast casual brand, sought-after for its modern veggie-centric cuisine, has announced the completion of a round of equity funding.
SANTA MONICA, CA, Veggie Grill, a premium fast casual brand, sought-after for its modern veggie-centric cuisine, has announced the completion of a round of equity funding. The $22 million capital raise included investments from Brentwood Associates, a private equity firm and existing shareholder of Veggie Grill; Powerplant Ventures, a venture capital firm founded by Veggie Grill's co-founders Kevin Boylan and T.K. Pillan; and other current and new investors. With the investment, Veggie Grill will focus on expansion to new markets in the U.S., as well as growing current markets.

Offering guests craveable, innovative, veggie-centric food created using seasonal vegetables, fruits, grains and nuts prepared with bold flavors, Veggie Grill has become the premier veggie-based restaurant concept in the U.S., and is uniquely different from the crowd of 'better for you' concepts in the fast casual space.

'As today's consumers make the shift towards 'veggie positive' thinking and eating, Veggie Grill's brand proposition positions us well for today and the future,' said Veggie Grill CEO Steve Heeley. 'This capital raise will help support our growth into other major markets across the U.S.'

Following this round of funding, Brentwood Associates remains the largest single shareholder. 'As an innovative concept, Veggie Grill has proven to be truly differentiated in the marketplace for fast casual restaurants. We look forward to our continued partnership as the brand progresses on its rapid growth trajectory,' said Rahul Aggarwal, Partner at Brentwood Associates and a member of Veggie Grill's Board of Directors.

About Veggie Grill

Founded in 2006, Veggie Grill serves bold veggie-centric food that is innovative, craveable and convenient. The premium fast casual concept offers a broad menu of bowls, entrée salads, hot sandwiches, home-style plates, and house-made desserts. With a focus on fresh, seasonal ingredients and modern flavors in a vibrant atmosphere at all 28 locations on the West Coast, Veggie Grill invites each and every guest to feel positively better. More information, locations and the full menu are available online at www.veggiegrill.com. Find us @veggiegrill on Facebook, Twitter, Instagram and Pinterest.

About Brentwood Associates

Brentwood Associates is a Los Angeles based private equity investment firm with over $1.4 billion of capital under management and a 30-year history of investing in category-defining brands in attractive niche markets. Brentwood focuses on investments in growing businesses with exceptional customer loyalty, where it is able to leverage its extensive experience in areas such as: branded consumer products, restaurants and other multi-location strategies, direct-to-consumer marketers, niche brands with specialty distribution, and education. Since 1984, Brentwood's dedicated private equity team has invested in 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner with entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.
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