WOWorks acquires The Simple Greek Mediterranean chain
Parent of Saladworks adds yet another fast-casual chain to collection during pandemic
WOWorks, the parent of Saladworks, has agreed to acquire The Simple Greek chain. This purchase follows WOWorks’ acquisition of two other fast-casual restaurant brands: Garbanzo Mediterranean Fresh, and Frutta Bowls, which serves superfood bowls, fresh-fruit smoothies, and oatmeal bowls.
Terms of the deal were not disclosed, and the transaction should be completed by April 1, according to an announcement.
“I am very excited for the future of The Simple Greek,” said Marcus Lemonis, founder, entrepreneur and host of the show “The Profit” on CNBC. He stressed that the chain he started would have additional purchasing leverage and resources under the ownership of WOWorks.
Both companies are touting the benefits of the acquisition to franchisees. The Saladworks management team will take over the administration and franchising of The Simple Greek moving forward. Saladworks executives anticipate the move will deliver “cost efficiencies, drive business growth and overall brand recognition.”
The new owners would also like to align The Simple Greek concept with their Garbanzo Mediterranean Fresh chain to realize synergies.
The Simple Greek was founded in 2015 and offers a build-your-own Mediterranean meal service system.
Ron Taylor, president and franchise owner at The Simple Greek, commented “With all the benefits of joining the WOWorks family, it is in the best interest of our team and franchisees to make this transition. Our priority is looking out for the franchise owners during a climate that has been incredibly challenging for the restaurant industry.”
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