Investments & Acquisitions
Next Level Burger Leads Veggie Grill Out of Financial Distress With Company Acquisition
Vegconomist • Jan 18, 2024
Plant-based burger chain Next Level Burger has acquired vegan fast-casual chain Veggie Grill, rescuing it from financial distress caused by closures and operational decisions. With Veggie Grill now under its umbrella, NLB claims to be the world's largest plant-based restaurant company with 27 locations across the United States. NLB's CEO, Matt de Gruyter, will now lead both companies, implementing immediate upgrades in sourcing and operational enhancements at Veggie Grill's 17 locations.
The acquisition follows Next Level Burger's recent successful funding round, supporting its long-term goal of opening 1,000 plant-based restaurants in the United States. Changes at Veggie Grill will include organic produce, non-GMO ingredients, and living wages for team members, while also promising to maintain fan-favorite menu items. NLB aims to take Veggie Grill's offerings to the next level while ensuring consistency and hospitality across all locations.
*This summary was generated using AI.
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