Daily Newsletter

08 December 2023

Daily Newsletter

08 December 2023

Urban Plates opens new restaurant in California, US

The restaurant brand uses sustainably sourced seafood and meats, and offers gluten-free, plant-based and low-carb options.

Umesh Ellichipuram December 08 2023

US-based fast-casual restaurant chain Urban Plates has opened a new location in Fountain Valley, California, US.

Located at 18050 Brookhurst Street, Urban Plates Fountain Valley will offer its guests dine-in, to-go orders, catering and delivery options.

This will be Urban Plates’ 19th location in the state of California and its 5th in Orange County.

Urban Plates president Joe O'Donnell stated: “Urban Plates remains steadfast in our mission to make craveable, wholesome and clean food accessible to all.

“With more restaurants planned to open in 2024 and beyond, we look forward to changing the way the world eats, one plate at a time.”

Established in 2011 by Saad Nadhir and John Zagara, Urban Plates offers a wide array of menu options including made-from-scratch plates, sides, salads, sandwiches, bowls and desserts.

The restaurant brand uses sustainably sourced seafood and meats, as well as offers gluten-free, plant-based and low-carb options to accommodate a range of lifestyles and dietary preferences.

Its menu is free of GMOs [genetically modified produce], antibiotics and hormones.

Urban Plates operates 19 locations in San Diego, Orange County, the greater Los Angeles area and Northern California.

In August 2023, Urban Plates secured $27m from investment funds managed by Morgan Stanley Expansion Capital to support its expansion plans.

The finances will also be used by the company to refinance its current debt.

Nadhir commented on the investment: “Our menu and our concept are right for the time. Wherever you are on your journey to eat better, we will meet you there.

“We believe that everyone deserves to eat this good. We are very pleased to work with Morgan Stanley Expansion Capital as we continue to expand the brand footprint and position ourselves for continued future success.”

Could the consumer industry be bolstered by the increased use of AI?

The consumer goods, foodservice, and packaging sectors are undergoing digital transformation, accelerated by the COVID-19 pandemic and changing consumer preferences. Data science and ML are strong investments across all areas. These sectors will help scale up the adoption of AI technologies, such as CV, conversational platforms, and smart robots.

Western Europe foodservice market dynamics

The total revenue of the Western European foodservice profit sector totaled $685.3 billion in 2022, having declined at a negative CAGR of 2.4% during 2017–22. In 2022, FSR was the largest foodservice channel, with a value share of 25.9%, followed by QSR. However, the region’s foodservice sector is poised to bounce back as it is forecasted to register a CAGR of 8.1% by 2027.

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