Next Level Burger Acquires Veggie Grill: Signaling Growth for Plant-Based Restaurant Concepts
The plant-based food industry has witnessed a monumental move: Next Level Burger’s acquisition of Veggie Grill. This significant acquisition not only almost triples the size of Next Level Burger but also establishes the combined entity as one of the largest plant-based restaurant chains in the United States. This strategic move not only signifies the growth potential of plant-based foods but also marks a major consolidation in the industry, indicating a robust future for plant-based dining.
A Pivotal Moment for Plant-Based Restaurants
Next Level Burger’s acquisition of Veggie Grill, a pioneer and legacy name in fully plant-based quick-service restaurants (QSR) in the U.S., is more than just a business expansion; it’s a clear signal of the burgeoning appetite for plant-based foods. With this acquisition, the combined value of the companies soars to $80 million, making Next Level Burger/Veggie Grill one of the largest plant-based restaurant chains in the nation. This move demonstrates the increasing consumer demand for plant-based options and the sector’s response to this shift.
Matthew De Gruyter, co-founder and CEO of Next Level Burger and member of the original Plant Based World Expo advisory council, has been a visionary in the plant-based space. His approach to the acquisition is transformative, aiming to uplift the Veggie Grill dining experience by introducing higher quality standards, including organic and non-GMO ingredients. This focus on quality and sustainability is not just a business strategy but reflects a deeper commitment to fostering a healthier and more ethical food system.
A Strong Indicator of Market Confidence
The acquisition follows a $20 million funding round in 2022, with notable investors including Whole Foods Market. This financial backing and the bold step of expanding to 27 locations nationwide indicate strong market confidence in the plant-based foodservice sector. De Gruyter’s goal to reach 1,000 restaurants highlights the anticipated growth and scalability of plant-based dining concepts.
The integration of Veggie Grill into the Next Level Burger family represents a future-forward perspective in foodservice. The move to ensure living wages for team members and the focus on hospitality and consistency speak to a holistic approach to business – one that values people, planet, and profit.