Consumer-focused private equity firm Catterton Partners made a significant investment in Piada Italian Street Food. Financial details of the deal were not disclosed but the Ohio-based fast-casual Italian eatery said it would be using the funds for expansion. Piada's restaurants are currently located in Ohio and Indiana. It has 14 eateries all over the Midwest and plans to open 6 more by the end of this year.
Piada Founder and Chief Executive Officer Chris Doody said they are excited with the partnership with Catterton. "We are confident that PIADA's fresh ingredients, innovative menu and customizable options will translate well to new markets throughout the U.S. and beyond. With Catterton's support, we look forward to the continued evolution of our growth strategy as we pursue our goal of building the leading fast-casual Italian restaurant company in the country," he added.
Aside from Piada, Catterton Partners has also backed other restaurants like Noodles & Company, Mendocino Farms and Cheddar's. Catterton now actively manages more than USD 4 billion in funds.
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