Playa Bowls secures investment funding to fuel its growth
Photo courtesy of Playa Bowls
Fast-growing chain Playa Bowls on Monday announced a “strategic investment” from two private investment firms.
The undisclosed injection of funds comes from private equity fund Tamarix Equity Partners and Pacific General Holdings, a private investment firm.
“Their operational skills and financial acumen will help Playa Bowls execute our existing growth plan and attract more franchisees over the next several years,” CEO Rob Guiliani said in a statement.
Playa Bowls began six years ago as a sidewalk stand on the Jersey Shore. Now a 126-unit chain, its menu features health-focused meals in bowls, including acai, coconut, pitaya, kale, and banana. The bowls are garnished with fruits, nuts and seeds. The chain also sells smoothies, cold-pressed juices and coffee drinks.
In 2020, Playa Bowls ranked among the fastest growing small chains in the country, according to data from Catering company sister company, Technomic.
The Belmar, New Jersey-based concept franchisee saw three-year average sales growth of over 51% and unit growth over the period of 56%, according to Technomic.
Mark Hauser, Managing Partner at Tamarix, called Playa Bowls “a remarkable company with a product offering to suit today”.
“It’s a fun, upbeat, healthier product,” Hauser said in a statement. “We look forward to working with this high performance team to continue their growth and innovation. “