News

Kitchen United raises $40M to fuel growth in New York

September 20, 2019

Kitchen United has closed on its $40 million Series B funding round to fuel growth of its commercial kitchen centers, which house 10 to 15 restaurant brands, according to a company press release.

RXR Realty — one of New York City's largest real estate owners, investors, operators and developers — and GV, with participation by certain funds managed by Fidelity Investments Canada ULC, DivcoWest and G Squared lead the round. Existing investors and founders John Miller, Harry Tsao and others also participated in the round. 

"In just over two years, we have only scratched the surface on the massive opportunity for brands to serve their guests where they want to be served, which is increasingly outside their traditional four wall space, Kitchen United CEO Jim Collins, said in the release. We're incredibly appreciative of our investors who understand the opportunity we present as a strategic real estate partner, meeting the needs of the top restaurant brands in the country as they find new ways to serve their loyal customers."  

As part of its relationship with RXR Realty, Kitchen United will enter the New York City market, with kitchen centers opening in RXR and other properties in the tristate area.

"We share Kitchen United's vision for the future of the restaurant industry and believe the consumer shift toward off-premise dining is already having a huge impact on both residential and commercial real estate," Scott Rechler, chairman and CEO of RXR Realty, said in the release. 

RXR Realty is a vertically integrated private real estate company, with its core growth strategy focused on New York City and the surrounding Tri-State area, a priority market for Kitchen United as it marches forward on its path to enable restaurant growth, success and expansion. 

Launched in 2017, Kitchen United has locations Pasadena and Chicago and will soon open in Scottsdale and Austin, with additional sites under construction in Chicago, San Francisco, Los Angeles and other major markets.