Operations

Just Salad lands first-time investor to fuel growth

Provided

July 20, 2021

New York-based Just Salad has completed its "largest-ever capital raise," with participation by the investment firm Closed Loop Partners, as well as returning investor Panda Restaurant Group, the parent company of Panda Express, according to a company press release. The companies did not disclose the dollar amount raised.

Just Salad, a 47-unit chain founded in 2006, will use the capital to double its footprint over the next two years and implement environmental sustainability and technology initiatives. Next year, for example, it will expand its Reusable Bowl Program to include digital orders and offer participating customers loyalty rewards in its mobile app, further encouraging sustainable eating on the go. The program allows customers to order from orderjustsalad.com using a reusable bowl and return it to Just Salad for professional washing and sanitation.

"The white space for Just Salad is truly incredible," Just Salad CEO and founder Nick Kenner said in the release. "Just Salad is on its way to becoming a larger part of the national landscape and that means unrivaled, craveable food and more sustainable eating for America in general. The tailwinds are strong, and it's about executing at a high level while still focusing on each and every customer."

Just Salad is the first restaurant investment for Closed Loop Partners, a New York-based investment firm and innovation center. Its investments align capitalism with positive social and environmental impact, driving toward zero-waste "closed-loop" systems that benefit people, the planet and business, Closed Loop Partners CEO and founder Ron Gonen said in the release.

"We are impressed with Just Salad's innovative approach to embedding zero-waste principles across their business," he said. "They are a pioneer of reuse models at scale, creating the world's largest restaurant reusable program and illustrating their commitment to extending the life of valuable packaging materials. Their continued growth demonstrates the viability, feasibility and desirability of circular business models."