Verts Mediterranean Grill

VERTS Mediterranean Grill
Private
Industry Restaurant chain
Founded 2011 (2011) in Austin, Texas
Founders Michael Heyne, Dominik Stein
Headquarters Austin, Texas
Number of locations
 19
Area served
 Texas, Massachusetts, New York, Pennsylvania
Number of employees
 500[1]
Website www.eatverts.com

VERTS Mediterranean Grill is an Austin-based fast casual restaurant chain.[2][3][4] The company created the world's smallest food truck out of a Smart Car in 2011.[5][6][7] In May 2016, it was rated ninth in Restaurant Business Online's list of Top 25 Fastest-Growing Fast Casuals.[8] As of April 2016, Verts has 28 locations in the United States.[9] Verts co-founder Dominik Stein was included on Forbes 30 Under 30 list under the Food & Drink category in 2017.[10]

History

Verts was founded in 2011 by two University of Texas and WHU - Otto Beisheim School of Management alumni, Michael Heyne and Dominik Stein to recreate popular food from Europe which was not available in America.[11][12][13] In February 2014, the chain announced it would be expanding into Houston.[14] In October 2014, Verts entered an agreement to open three locations in Dallas-Fort Worth.[15][16] Verts opened its first San Antonio location in September 2015.[17] In December 2015, the company brought in $20 million in private equity, which would be used to expand the restaurant to the east coast.[18][19][20] The first Plano location opened in April 2016.[21] Poets & Quants named Verts one of the Top MBA Startups in January 2016.[22]

In September 2016, Verts announced a new location in Center City, Philadelphia, which opened in March 2017.[23][24][25] In November 2016, Verts opened a new location in Boston[8][26][27] and announced a New York City location.[28][29] Two more Boston locations were announced in February 2017,[30] and a location in Washington D.C. was announced that March.[31] Also in March 2017, Verts was featured on CNBC's list of 10 hot restaurant brands to watch.[9] In July 2017, Yelp showed that a total of 11 Texas locations were closed including 5 in and around Austin, all 3 in San Antonio, and 3 in cities surrounding Dallas/Ft.Worth.

References

  1. ↑ Jeremy Quittner (September 30, 2016). "What It Will Take for This Fast-Growing Chain to Become the Next Chipotle". Fortune. Retrieved January 24, 2017.
  2. ↑ Ron Ruggless (March 8, 2016). "VertsKebap shortens name to Verts". Nation's Restaurant News. Retrieved January 24, 2017.
  3. ↑ "VertsKebap Changes Name to VERTS". QSR. March 8, 2016. Retrieved January 24, 2017.
  4. ↑ Virginia B. Wood (March 28, 2014). "Chain Gangs". The Austin Chronicle. Retrieved January 24, 2017.
  5. ↑ Kim Bhasin (October 31, 2011). "Behold, The World's Smallest Food Truck". Business Insider. Retrieved January 24, 2017.
  6. ↑ Cody Lyon (October 19, 2011). "Verts Kebap turns Smart Car into food trailer". Austin Business Journal. Retrieved January 24, 2017.
  7. ↑ Craig Hlavaty (October 17, 2016). "Texas-based VERTS Mediterranean Grill eyes national expansion". mySA. Retrieved January 24, 2017.
  8. 1 2 Cleopatra Dessalegn (November 11, 2016). "VERTS gives fresh face to Boston fast casual scene". Daily Free Press. Retrieved January 24, 2017.
  9. 1 2 Katie Little (March 23, 2017). "10 hot restaurant brands to watch to spot the next big hit". CNBC. Retrieved April 25, 2017.
  10. ↑ "Dominik Stein". Forbes. Retrieved January 24, 2017.
  11. ↑ "Verts on South Lamar offers St. Edward's students discounts". Hilltop Views. February 6, 2014. Retrieved January 24, 2017.
  12. ↑ Lauren Everitt (January 27, 2016). "VertsKebap: The $36 Million VC-Backed Mediterranean Street Food Startup". Poets & Quants. Retrieved January 24, 2017.
  13. ↑ Nicole Duncan (September 2016). "The Fast Casual Empire in the Making". QSR. Retrieved January 24, 2017.
  14. ↑ Josh Cain (February 25, 2014). "Another Austin restaurant coming to Houston". Houston Business Journal. Retrieved January 24, 2017.
  15. ↑ Candace Carlisle (October 6, 2014). "Austin-based restaurant Verts lands at 3 DFW locations". Dallas Business Journal. Retrieved January 24, 2017.
  16. ↑ Michael Theis (October 6, 2014). "Verts Kebap expands in Dallas, eyes other Texas cities". Austin Business Journal. Retrieved January 24, 2017.
  17. ↑ Katie Burke (September 1, 2015). "VertsKebap continues expansion with second San Antonio opening". San Antonio Business Journal. Retrieved January 24, 2017.
  18. ↑ Jan Buchholz (December 14, 2015). "Hot restaurant chain plucks $20M from private equity; more expansion planned". Austin Business Journal. Retrieved January 24, 2017.
  19. ↑ "VertsKebap Sets Sights on East Coast for 2016". QSR. December 14, 2015. Retrieved January 24, 2017.
  20. ↑ Gary Dinges (December 15, 2015). "$20 million investment will let Verts Kebap head to East Coast". Austin American Statesman. Retrieved January 24, 2017.
  21. ↑ Kelley Crimmins (April 12, 2016). "Austin-based restaurant Verts Kebap opens in Plano". Community Impact. Retrieved January 24, 2017.
  22. ↑ Nathan Allen (January 29, 2016). "Here Are Poets&Quants Top MBA Startups". Fortune. Retrieved January 24, 2017.
  23. ↑ Michael Klein (September 8, 2016). "Verts, a 'Chipotle of Mediterranean food,' opening in Center City". Philly.com. Retrieved January 24, 2017.
  24. ↑ "Free food at the new Verts, a fast-casual Mediterranean eatery". Philly.com. February 22, 2017. Retrieved April 25, 2017.
  25. ↑ Michael Tanenbaum (February 28, 2017). "Verts Mediterranean Grill coming to Center City via Austin". Philly Voice. Retrieved April 25, 2017.
  26. ↑ Doug Banks (October 3, 2016). "Fast-growing Mediterranean restaurant chain to open first Boston location". Boston Business Journal. Retrieved January 24, 2017.
  27. ↑ "Rapidly Expanding VERTS Set to Make East Coast Debut". QSR. October 11, 2016. Retrieved January 24, 2017.
  28. ↑ "The New Kid On The Block, VERTS Is Coming to NYC". Total Food Service. November 23, 2016. Retrieved January 24, 2017.
  29. ↑ Kate Taylor (December 21, 2016). "7 chains that will dominate the restaurant industry in 2017". Business Insider. Retrieved January 24, 2017.
  30. ↑ David L. Harris (February 22, 2017). "Fast-growing Mediterranean restaurant chain opening two more Boston locations". Boston Business Journal. Retrieved April 25, 2017.
  31. ↑ Rebecca Cooper (March 13, 2017). "More Mediterranean coming to D.C., Shake Shack'a latest opening and more reataurant news". Washington Business Journal. Retrieved April 25, 2017.

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