Fast-casual restaurant group Cava Group will acquire Zoe’s Kitchen Inc., a publicly traded chain of Mediterranean restaurants. Washington, D.C.-based Cava has agreed to pay $12.75 per share to take Plano, Texas-based Zoe’s private, a deal worth about $300 million and a 33 percent premium on Zoe’s closing price Aug. 16. Zoe’s stock (NYSE: ZOES) is up more than 30 percent in Friday morning trading. Cava has 66 locations mostly in the mid-Atlantic, Northeast and in California; Zoe’s Kitchen,…
from https://www.bizjournals.com/baltimore/news/2018/08/17/cava-groupacquires-a-massive-competitor.html?ana=RSS&s=article_search
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