Gregg Majewski, a former executive at Jimmy John’s and the CEO of Mongolian Concepts, has introduced a new platform to expand—and possibly acquire—fast-casual restaurant concepts.
Majewski unveiled the newly established Craveworthy LLC on Thursday in collaboration with FG Financial Group Inc. The company is debuting with four first restaurant brands under its umbrella:
Fly With It! Craveworthy purchased this 12-unit franchise in January. It operates in Connecticut, Alabama, New Jersey, Georgia, North Carolina, New York, Texas, and, eventually, Florida. Its menu consists of wings, sandwiches, and dumplings. The president of the company will be Matt Ensero, its founder.
The Craveworthy team in Bolingbrook, Illinois, founded Krafted, which is well-known for its burgers, brunch, and brews. Elmhurst, Illinois will shortly receive a second unit. Chef Robert Kabakoff, who has provided consulting services to companies including Hillstone Restaurants, Yum Brands, and Mongolian Concepts, developed the menu.
The Budlong Hot Chicken: Another purchase, this Chicago restaurateur Jared Leonard’s Stone Soup Collective Nashville hot chicken brand has four locations in the Windy City, including a ghost kitchen.
This concept, which is also being developed by Craveworthy, is expected to debut in Oak Brook, Illinois, in the beginning of 2023. Additionally, 50 additional ghost kitchen locations are planned. Additionally, the company wants to expand through both franchising and acquisitions.
Former COO, CFO, and CEO of the Jimmy John’s sandwich chain, Majewski expanded the company from 33 to 300 locations while also selling 600 more. He was responsible for the “Freaky Fast” marketing campaign as well as the restructuring of that brand’s operational standards.
He is the CEO of Mongolian Concepts, the company that owns Genghis Grill, FlatTop Grill, and Bd’s Mongolian Grill, in addition to developing Craveworthy.
“I’ve seen the restaurant world from so many perspectives over the years, and it is clear to me that the industry requires a new way of thinking given the cost structure and commoditized experiences out there,” Majewski added in a statement. “That’s why we created Craveworthy. We have a clean slate but a ton of relevant industry ‘muscle power’ to come out of the gates strong and sustain it. The new company clearly has the potential to provide many pathways for our employees and franchisees to live and achieve the American Dream.”
A holding firm for reinsurance and asset management, FG Financial. The group’s newly formed merchant banking platform, which was established through a business combination agreement with IT firm iCoreConnect, includes Craveworthy as a second project.
Kyle Cerminara, FG Financial’s chair and fundamental global CEO, said in a statement, “We are excited to launch Craveworthy with Gregg at the helm. This is a great opportunity to be part of a multi-brand platform and a franchise-focused organization with the potential for a continually growing royalty stream. Our goal is to help grow Craveworthy into one of the most well-respected and largest restaurant brand platforms in the nation.”
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