News

Danny Meyer invests in Tender Greens

Danny Meyer's Union Square Hospitality Group has invested in Tender Greens, a farm-to-fork concept with 22 locations across California.

July 20, 2015

Danny Meyer's Union Square Hospitality Group has invested in Tender Greens, a farm-to-fork concept with 22 locations across California. Alliance Consumer Growth, a consumer-focused growth equity firm, has also invested, according to a company press release.

As part of USHG's investment—the first of its kind in the company's 30-year history—Meyer will join Tender Greens' board of directors.

The investment and strategic alliance will be used to grow the Tender Greens brand in California and beyond; financial terms were not disclosed, said David Dressler, Tender Greens co-founder.

"We are thrilled and honored that USHG and ACG saw the value and the opportunity to invest in Tender Greens and introduce more people to our inspired food, passion, and friendly service. We waited to find the right partner that shares our same philosophy about building a company that we would want to work for and that everyone would love," Dressler said. "By welcoming Union Square Hospitality Group and Alliance Consumer Growth to our table, we begin our next chapter with a strategic partner who has a collection of the finest restaurants in New York with 26 James Beard Awards to their credit, the creator of the better burger phenom Shake Shack, and their founder (and our hero) Danny Meyer on our board of directors. Not to mention access to growth and development resources we have always wanted, and a network of other special brands to collaborate with and learn from."

Meyer said he loved the concept so much he wish he would have thought of it himself.

"Up until now, we've built our company by planting seeds from scratch, and then growing them ourselves. Lately I've been asking, 'Whoever wrote the rule…,' and in this case, the question was, 'Whoever wrote the rule that we can't also grow our company by investing in a great idea even when the seed has taken root in someone else's garden?' Above all, I'm so excited for USHG to champion a like-minded company whose entire team shares our passion for culinary excellence and enlightened hospitality,” Meyer said.

Stifel acted as exclusive financial advisor to Tender Greens in the transaction.