Cava Group Inc CAVA

NEW YORK, June 15, 2023 /PRNewswire/ -- On June 15^th, CAVA Group Inc. ("Cava") (NYSE: CAVA), the category-defining Mediterranean fast-casual restaurant brand that brings heart, health, and humanity to food, began trading on NYSE, having priced its initial public offering of 14,444,444 shares at $22.00 per share.

The Invus Group, LLC ("Invus"), through its affiliate Artal International S.C.A. ("Artal"), is proud to have been a partner of Cava since Cava's 2015 Series A investment round. Artal remains Cava's largest shareholder following the public offering. Invus Managing Directors Philippe Amouyal and Benjamin Felt serve on Cava's Board of Directors.

"We wholeheartedly congratulate Cava's founders Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis, and Brett Schulman and the entire Cava team on this significant milestone and beginning of a new chapter for the company," said Felt. "We have been deeply honored to partner with Cava on their journey from a handful of restaurants to now hundreds across the United States, and we look forward to seeing Cava continue to spread the Mediterranean way in the years to come."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Invus and Artal

Invus, as exclusive investment advisor to Artal, is a global equity investment firm with an evergreen capital structure, operating out of offices in the U.S., Europe and Asia. Since its founding in 1985, Invus has focused on empowering entrepreneurs and entrepreneurial teams to transform their industries across both public and private equity investments.

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SOURCE The Invus Group, LLC