American burger chain Burgerville has divested a portion of itself to a local group of investors for an undisclosed sum to fuel its regional expansion.
The exact stake acquired by the new investors has not been disclosed. However, the Mears family, founders of Burgerville, will retain their interest in the company.
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The investment group includes CEO Ed Casey and former Dutch Bros CEO Joth Ricci, who will take on the role of executive chairman.
CEO Ed Casey said: “Burgerville’s mission has always been to serve our local communities with love, and in recent years, our strategy has been to prepare to grow across the Northwest.
“To do that, the Mears family and I wanted to team up with local partners who share our values and vision for Burgerville – and that’s just what we found.”
The move is part of a broader multi-year growth strategy aimed at expanding the brand’s footprint.
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By GlobalDataFounded in 1961, Burgerville currently operates 39 corporate units across Oregon and Washington.
The brand is poised to open its 40th location in Wilsonville, Oregon, in 2024, marking its first new store in eight years.
Plans are also underway to open additional stores in Salem and Keizer, Oregon, with further expansion to the north and east of its Centralia, Washington unit.
Over the next year, Burgerville has identified 6–10 potential locations for development within the Pacific Northwest.
Ed Casey has outlined an ambitious vision for the company, aiming for up to ten new openings annually and a target of 100 restaurants systemwide within the next five years.
Casey is confident that the expansion will not result in the closure of any existing units.
Ricci said: “Burgerville was a pioneer in sustainability and local long before those were industry buzzwords.
“I’m excited to be able to play a role in the next leg of the Burgerville journey.”
Joth Ricci, who joined Burgerville’s in 2022 brings years of experience from his tenure as CEO of Dutch Bros.
There he led the company through a successful initial public offering (IPO) and expanded the brand to over 800 locations, making it the third-largest beverage chain in the US.
