Craveworthy Brands and New Summit Capital Advisors have partnered to establish Global Taste Brands, a joint venture (JV) aimed at introducing and franchising international quick-service and fast-casual restaurant brands from China and beyond, in the US.
The portfolio of Craveworthy includes BD’s Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Hot Chicken Takeover, Krafted Burger Bar + Tap, Lucky Cat Poke Co, Pastizza Pizza & Pasta, Scramblin’ Ed’s, Sigri Indian BBQ, Soom Soom Mediterranean, taim Mediterranean Kitchen, The Budlong Southern Chicken, and Wing It On!.
The JV with New Summit aims to propel the growth of international brands in the US.
Craveworthy CEO and founder Gregg Majewski said: “This partnership opens a new chapter of growth and value creation for Craveworthy.
“By joining forces with New Summit, we’re building a programme that brings global culinary innovation to American diners, expanding our footprint and creating equity in a dynamic landscape. Together, we’re shaping a more inclusive dining experience that resonates across the diverse communities we serve.”
The partnership will combine the expertise of New Summit in global brand scaling with Craveworthy’s industry knowledge for securing significant market presence in the diverse American restaurant sector.
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New Summit managing partner Seth Williams said: “New Summit is thrilled to partner with Craveworthy, which has built a unique and powerful F&B brand launch platform.
“We’ll leverage Craveworthy’s capabilities along with our deep knowledge of international commercial real estate and the consumer landscape to bring best-in-class global chain restaurant brands to the US and other markets. We’ll introduce the spirit of craftsmanship found across Asia and other rich cultures to the American audience by providing unmatched cuisine with carefully curated experiences.”
