Thrive Restaurant Group Acquires Modern Market Eatery from Butterfly Equity
Learn about the acquisition of Modern Market Eatery by Thrive Restaurant Group from Butterfly Equity. Discover the details and implications of this significant business move.
Photo by Jacopo Maiarelli on Unsplash
The Strategic Acquisition of Modern Market Eatery
Thrive Restaurant Group, a thriving establishment with over 200 restaurants across 18 states, including familiar brands like Applebee’s Neighborhood Grill and Qdoba, made a significant business move by acquiring the fast-casual Modern Market Eatery brand. This acquisition, confirmed by company officials, marks a strategic expansion for Thrive into the fast-casual dining segment.
Transforming the Dining Experience with Fresh and Healthy Options
Modern Market Eatery, founded in 2009 with a vision to offer fresh, wholesome food made from scratch, has garnered attention for its culinary innovation focused on healthy dining choices. Jon Rolph, Thrive's CEO, expressed confidence in the brand's potential to lead in the fresh and healthy dining space, highlighting the commitment to quality and innovation.
Leadership Transition and Growth Prospects
Following the acquisition, Robin Robison, the current COO of Modern Market, is set to lead the brand as its president under Thrive Restaurant Group. This leadership transition signals a seamless integration of talent and expertise to drive the success of Modern Market Eatery under its new ownership. With Thrive's previous acquisitions and existing restaurants, the addition of Modern Market expands its footprint, now operating in seven states with a network of restaurants and licensed locations.
Implications for the Fast-Casual Dining Scene
The acquisition of Modern Market Eatery by Thrive Restaurant Group not only consolidates the fast-casual dining landscape but also sets a precedent for elevating the standards of fresh, healthy dining options in the industry. This move positions Thrive as a key player in catering to the evolving preferences of consumers seeking nutritious and innovative dining experiences.