CHICAGO — Winona Capital Management has announced that it has made an investment in Stellar Restaurant Group, dba Boloco, a fast-casual restaurant chain with 13 locations in and around Boston.
The $10 million investment will be used primarily to fund the growth of the business.
Boloco is a fast-casual restaurant concept founded 10 years ago by CEO John Pepper and partners Adam Liebman, Jason Hutchinson and Gregg Harris. The company started as "The Wrap," but in October 2005, the name was changed to Boloco and the tag "Inspired Burritos" was added to better reflect its focus. Boloco also serves fresh-made smoothies.
Boloco uses energy-efficient lighting, low VOC paints and countertops made from recycled paper, and is migrating to drinking cups made from corn.
