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Piada Italian receives investment to expand footprint

Piada Italian Street Food has received additional growth capital investment from Greenwich, Connecticut-based Catterton.

December 22, 2015

Piada Italian Street Food has received an additional growth capital investment from Greenwich, Connecticut-based Catterton, a leading consumer-focused private equity firm. The investment will be used to support the company's rapid growth and development plans, said Co-founder Chris Doody, who also co-founded the Bravo Brio Restaurant Group. Pida has since expanded across its home state of Ohio into Michigan, Indiana, Minnesota and Texas and will have 26 restaurants by the end of 2015, according to a company press release. The additional investment from Catterton will assist the company as it continues to grow and maintain its leading position in the fast-casual Italian category.

"Catterton has been a great partner to Piada and we are excited to deepen that relationship as our brand grows," Doody said. "This additional investment allows Piada to advance the momentum behind our brand with smart investments in people, strategic development and innovative culinary offerings. Together with Catterton, we can realize our goal of becoming the leading Italian fast-casual concept nationwide."

Piada's craveable offerings, coupled with its modern restaurant design and outstanding service, makes it one of the most unique and well-positioned brands in the marketplace, said Jon Owsley, a partner at Catterton.

"Piada is one of the great growth brands in the restaurant space and is poised for significant expansion. We are very excited to have partnered with Chris and his team and look forward to helping Piada continue on its current trajectory."

Piada broadened its reach this year with expansion into major metropolitan markets, including Houston and Dallas, and prominent, non-suburban sites in such locations as Minneapolis' Mall of America and Stadium Village at the University of Minnesota. The restaurant group is on track to accelerate its development in 2016 and 2017, by prioritizing new locations in Texas and Minnesota, as well as adding several new markets, Doody said.