Published: Sat, January 14, 2017
World | By Tasha Manning

Naf Naf Grill sells stake to fund expansion - Chicago Tribune

Naf Naf Grill sells stake to fund expansion - Chicago Tribune

Chicago-based Naf Naf Grill has sold a minority stake to an Atlanta-based private equity firm for an undisclosed amount to raise cash for expansion.

David Sloan, co-founder and chief executive of Naf Naf Grill, declined to disclose the size of the minority stake.

Naf Naf Grill will open an outlet in Minneapolis next month and later in Madison, Wis., With plans to add 10 to 15 locations.

In the next year.

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Naf Naf Grill, founded in 2008, serves Middle Eastern food like shawarma, pita and falafel. Of its growing popularity as consumers try new flavors.

"Middle East cuisine is growing. Millennials want different food profiles and experiences," said Geoff Hill, Principal at Roark Capital.

"It's scalable" he said, adding that Roark would consider franchising the Naf Naf brand. "We want to build the brand, scale, size, and eleven we get to that point we'll make a decision," he said.

Roark's portfolio includes Carl's Jr., Hardee's, Corner Bakery, Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill and Schlotzsky's.

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