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Tag: First Watch restaurants IPO

Breakfast-brunch-lunch chain operator First Watch Restaurant Group filed for an IPO of up to $100M…First Watch, with sales of $423M in 2019 and EBITDA of $(5.7M), has big plans for expansion. The company has grown from 148 restaurants in 2014 to 423 restaurants as of the second quarter of 2021, with a runway for as many as 2,200 locations, according to an analysis it commissioned. It’s penetration is light in the Mountain States, Pacific Northwest and in Alaska