News

Zoes CEO out as Cava completes acquisition

November 26, 2018

Zoes CEO Kevin Miles is out of a job now that Washington D.C.-based Cava Group has completed its $300 million acquisition of the brand, a plan it first announcedin August, according to a company press release.

Although the Zoes Kitchen brand will remain intact for the foreseeable future, Cava CEO Brett Schulman will serve as CEO of the combined company, with Miles completing his tenure last week. Miles started with Zoes Kitchen in 2009, and grew the privately held restaurant chain from 21 locations in seven states and approximately $24 million in annual revenue to a public company with 268 locations in 20 states and approximately $340 million of annual revenue, according to the  release.

"It's been an honor and privilege to lead the growth of this amazing organization over the past nine years, Miles said. "It's been a total team effort and I'm most proud of the positive impact that the Zoës team has had on so many lives, including our team members, guests and business partners. I also want to thank the support of our investors over the years."

As a combined company with a workforce of more than 8,000 team members across 24 states, Cava is now an omni-channel platform leveraging two service models, digital and app-based sales channels, a line of chef-crafted dips and spreads and relationships with delivery service providers, according to the release. 

Zoes Kitchen shareholders received $12.75 per share in an all-cash transaction, bringing Zoës into the private market, following a 4-year run as a publicly traded entity.