Wow Bao partners with equity firm to accelerate growth
Lettuce Entertain You Enterprises Inc. has partnered with a Chicago-based growth equity firm — Valor Equity Partners — to fuel the growth of one of its concepts, Wow Bao.
"We are very proud of the team that created and manages Wow Bao," Geoff Alexander, president of Wow Bao, said in a company press release. "We believe working together with Valor creates an exciting opportunity for all of Wow Bao."
Since Wow Bao's inception in 2003, it has grown from a single 386-square-foot kiosk at Water Tower Place in Chicago to five company-owned locations, a food truck, airport locations, college campuses, Major League Baseball stadiums, NFL stadiums, hotels and more than 55 grocery stores, which carry a frozen retail line. It's now found in Illinois, Michigan, Minnesota, Ohio, Indiana, Washington D.C., Texas, California, North Carolina, Maryland and Massachusetts.
The financial details of the partnership were not disclosed.
Topics: Franchising & Growth