MAD Greens Harvests $13M Investment
MAD Greens is staged to nearly double in size in 2016 thanks to the latest round of investment capital from Colorado-based 9th Street Capital.
The investment will fund the chain's aggressive expansion plans, including new openings in Colorado, expansion in Arizona and into its newest market, Texas
. The concept's first Austin location is slated to open in late February or early March at The Domain, followed by four additional Austin-area locations
opening in early 2016.
Pictured: MAD Greens Co-Founder Dan Long (left) meets with Brent Johnson (right), Founder of Johnson's Backyard Garden
on a recent scouting trip to Austin, Texas.
"Expansion has been in the works for a while, however weve had to wait for a few stars to align, one of them being enough funding to do it in the manner we want with strong support for our employees and local farmers and in the best locations, said MAD Greens co-founder and Chief Strategy Officer Marley Hodgson."
MAD Greens secured its first major investment in 2013 from AC Restaurant Group, a subsidiary of 9th Street Capital, with $5 million in funding and AC Restaurant Group founder Darden Coors assuming the role of MAD Greens CEO.
Were not quite two years into our partnership and its going so well we chose to triple our initial investment, said 9th Street Capital CFO Casey Gebhard.
As a result of the initial investment, MAD Greens opened three Front Range locations and expanded into its first out-of-state market, Arizona, with four new locations
, The chain also hired 130 new employees. Operations were improved as a result of the initial investment and customers benefited from a wholly revamped interior design, a website overhaul, new digital menu screens and the addition of fresh-blended juice bars.
Said Gebhard: "MAD Greens has proven to be what we thought it was - a better-for-you company with huge potential for success. Our increased investment will fund an aggressive growth plan across several markets and we know it will deliver great returns for our team and the people of Colorado."
MAD Greens has provided Colorado with healthy, inspired eats since 2004 when founders Marley Hodgson and Dan Long pioneered the salad concept, now growing in popularity throughout the U.S. The chain continues to employ more than 250 Colorado-based employees, including Salad Artists, managers and corporate staff while remaining singularly committed to local farmers and the Colorado lifestyle.
Pictured: MAD Greens team members whipping up custom salad orders during a recent Free Salad Day
. When MAD Greens opens a new restaurant, it celebrates by giving away free regular-sized salads and a drink to everyone in the community. All donations collected during the party are given to a local non-profit organization or local school. Recent Free Salad Day charity partners include Phoenix Children's Hospital
, Boys and Girls Clubs
in Scottsdale, Arizona and Silver Hills Middle School
in Westminster, Colorado.
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