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Salad chain Sweetgreen files secretly for initial public offering

Workers are Sweetgreen Inc while preparing a meal at the company’s restaurant in Boston, Massachusetts. I’m wearing a hat.

Adam Grantsman | Bloomberg | Getty Images

Salad chain Sweetgreen has secretly filed for an initial public offering.

Founded in 2007, Sweetgreen is considered a healthier alternative to fast food.The planned debut has been rumored for years, but it comes as the pandemic fueled that increase. Digital sales.. Axios first news..

Chains are a favorite of both busy office workers and investors. The company’s final funding round earlier this year was valued at nearly $ 1.8 billion. Sweetgreen said New York Times Revenue in 2019 exceeded $ 300 million.

Like its rivals Chipotle Mexican Grill, Sweetgreen has been devoted to technology that drives sales growth even before the need for a health crisis. The salad chain has invested in a mobile app to format restaurants to make it as easy as possible to receive digital orders and reduce the long lines that meander through the store during lunch breaks.

The pandemic has also spurred other major changes in Sweetgreen. Acceleration of plans to start construction of the site in drive-through lanes.. The pilot restaurant is scheduled to open this winter at Highlands Ranch, Colorado. It has also expanded into the suburbs since the first decade of its focus on urban areas.

Salad chain Sweetgreen files secretly for initial public offering

Source link Salad chain Sweetgreen files secretly for initial public offering

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