Gregorys Coffee, founded in 2006 with over 50 locations, is now under new ownership by Craveworthy Brands, a restaurant holding company. The deal aims to help franchise Gregorys nationwide. Founder Gregory Zamfotis will remain as president. Craveworthy Brands focuses on growing restaurant concepts and aims to build a diverse portfolio.

Craveworthy Brands, known for investing in restaurant chains like Genghis Grill and Big Chicken, sees potential in Gregorys’ expansion. The company’s annual system sales will exceed $400 million with the acquisition. CEO Gregg Majewski, formerly of Jimmy John’s, aims to replicate the success of private equity firm Roark Capital. The trend of beverage-focused chains like Dutch Bros and Taco Bell testing new drink menus is growing in the industry.

Investors like Harborfield Management and Kitchen Fund, along with Craveworthy Brands, are fueling the growth of Gregorys Coffee. The funding round aims to support the chain’s expansion plans. With a focus on quality coffee and artisanal craft, Gregorys aims to maintain its identity while growing its footprint beyond the tristate area.

Read more at CNBC: Craveworthy Brands becomes managing partner of Gregorys Coffee