Business
FG Financial Group Announces Formation of Craveworthy
- Craveworthy Operates Growing Restaurant Brand Platform – - Second Project Under FG Financial Group’s Recently Launched Merchant Banking Division – -
About this update from Fg Nexus Inc.
[{"type":"text","content":"\n- Craveworthy Operates Growing Restaurant Brand Platform –\n- Second Project Under FG Financial Group’s Recently Launched Merchant Banking Division –\n- Project Launched in Partnership with Gregg Majewski, Former CEO of Jimmy John’s Gourmet Sandwiches –\n- Initial Platform will Include Four Brands with Six Craveworthy-Owned Locations, Thirteen Franchise Locations and Eighteen Franchise Locations In Development –\n- Focused on Growing Royalty and Franchise Fee Revenue While Strategically Positioning New Craveworthy-Owned Locations –\n- Craveworthy is Cultivating Growing Pipeline of Potential Acquisitions –\n\n ST. PETERSBURG, Fla.--(BUSINESS WIRE)--\nFG Financial Group, Inc. (Nasdaq: FGF) (the “Company”), today announced the formation of Craveworthy LLC (“Craveworthy”) in partnership with Gregg Majewski, a proven restaurant industry executive with several successes under his leadership. This is the second project under FG Financial Group’s recently announced Merchant Banking division. FG Financial is a reinsurance and asset management holding company focused on collateralized and loss capped reinsurance and merchant banking that allocates capital in partnership with Fundamental Global®, a private partnership led by Kyle Cerminara and Joe Moglia, as well as other strategic investors.\n\nCraveworthy is a growing restaurant brand platform made up of diverse, relevant and highly scalable brands. The four initial brands include three existing concepts, Wing It On!, Krafted Burger + Tap and The Budlong Hot Chicken, and one new brand, The Lucky Cat Poke Company. Initial stores will include six Craveworthy-owned locations and thirteen franchise locations with an additional eighteen franchise locations in various stages of the development pipeline. The Lucky Cat Poke Company expects to launch its first standalone location along with approximately fifty ghost kitchen locations in 2023.\n\nGregg Majewski is the CEO of Craveworthy. He held several senior leadership positions at Jimmy John’s Gourmet Sandwiches including CEO. While at Jimmy John’s, Majewski expanded the company from 33 restaurants to 300 restaurants open and another 600 sold. Majewski implemented and restructured all 300 of Jimmy John‘s restaurants’ operational standards by introducing new systems, procedures, management incentive programs, training programs and franchise en...