US-based fast-casual restaurant brand Just Salad has announced a capital raise of $200m from a consortium led by Wellington Management
The investment, which includes contributions from D1 Capital Partners, Neuberger Berman and Stripes, propels the company’s valuation to an estimated $1bn.
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Wellington Management private investments co-head Michael Carmen stated: “We are excited to invest in Nick and the Just Salad team. Just Salad offers consumers a great product at an attractive price and stands out from other restaurant companies with its strong brand and impressive same-store sales growth. This growth is outpacing others in the fast-casual category and is being driven by increased consumer traffic during the past year.”
The funds will be used to accelerate Just Salad’s growth, focusing on new store openings, menu enhancements and investments in advanced technology to enhance customer experience.
Just Salad founder and CEO Nick Kenner stated: “The quick-service food industry is in the early days of disruption, and the average consumer desperately wants healthy, craveable, convenient and accessible options. No one does that better than Just Salad.
“We are proud to partner with world-class investors like Wellington, D1, Neuberger Berman and Stripes to propel our next phase of growth. We have a tremendous runway to build Just Salad into a leading national restaurant brand, and this investment demonstrates the confidence in that opportunity and our team’s ability to achieve that goal.”
Since its inception in New York City in 2006, Just Salad has expanded its offerings to include salads, wraps, warm bowls, soups and smoothies, featuring homemade dressings and fresh ingredients.
Just Salad operates close to 100 locations across key urban and residential markets, including New York, Florida, Illinois, Massachusetts and Pennsylvania.
In January 2025m the brand launched Salad AI, a personalised ordering feature, on its app.
The tool provides customised salad recommendations based on individual preferences.
