Just Salad Receives Investments from Leading Closed-Loop Partners for Circular Economy Investors; Plans to expand geographic footprint and zero waste programs
NEW YORK, NY- (BUSINESS WIRE) – Just Salad, a fast-casual restaurant concept with the aim of enabling health in everyday life and sustainability in everyday life, announced today that it has completed its largest capital increase to date with the participation of the circular economy investment firm Closed Loop Partners. as well as the returning investor Panda Restaurant Group, the parent company of Panda Express®.
Just Salad will use the capital to expand its geographic presence and implement new environmental sustainability and technology initiatives. The brand currently has 47 locations in New York, New Jersey, Illinois, Pennsylvania, North Carolina, Florida and Dubai and plans to double its presence over the next two years.
Founded in 2006, Just Salad is the leading advocate of zero waste practices in the fast casual restaurant industry. In 2022, Just Salad will expand its award-winning Reusable Bowl program to digital orders and offer participating customers loyalty rewards in its mobile app to further promote sustainable eating on the go.
Just Salad is the first restaurant investment for Closed Loop Partners, a New York-based investment firm and innovation hub focused on scaling the circular economy in North America and beyond. Your investments balance capitalism with positive social and environmental impacts and strive for waste-free “closed” systems that benefit people, the planet and businesses. The partnership with Just Salad builds on and complements the existing work of Closed Loop Partners in promoting sustainable food packaging, including investments in companies focused on alternative materials and reuse systems and their leadership in the NextGen Consortium, an industry partnership that drives design, commercialization and utilization of sustainable food packaging alternatives.
“We are impressed with Just Salad’s innovative approach to embedding zero waste principles across the company. They are a pioneer in scale reuse, create the world’s largest reusable restaurant program, and demonstrate their commitment to extending the life of valuable packaging materials, ”said Ron Gonen, Founder and CEO of Closed Loop Partners. “Their continuous growth shows the viability, feasibility and desirability of circular business models.”
“It has been worth it to be part of Just Salad’s journey since our partnership began in 2014. Their growth in the urban and suburban markets is impressive and the result of great business activity and focus on people development, ”said Andrew Cherng, Co-Founder and Co-CEO of Panda Restaurant Group, the largest Asian food concept in the US with restaurant concepts in more than ten countries. “We look forward to supporting this next phase of Just Salad’s expansion and the impact they will have with their upcoming initiatives.”
Nick Kenner, Founder and CEO of Just Salad, said of the company’s future: “The white space for Just Salad is really incredible. Just Salad is on its way to becoming a bigger part of the national landscape, and that means unrivaled, coveted food and a more sustainable diet for America in general. The tailwind is strong and it’s about operating at a high level and still concentrating on each individual customer. ”
About Just Salad
Just Salad is a fast-casual concept with the mission to enable health in everyday life and sustainability in everyday life. Just Salad enables its customers to eat in a targeted manner and is home to the world’s largest program of reusable bowls for restaurants and is the first US chain of restaurants to have a carbon label on its menu. The company was founded in New York City in 2006 and has 47 locations in New York, New Jersey, Florida, Illinois, Pennsylvania, North Carolina and Dubai. Learn more at justsalat.com.
Via closed-loop partners
Closed Loop Partners is a New York-based investment firm that includes venture capital, growth capital, private equity, project-based finance and an innovation hub focused on building the circular economy. The company has built an ecosystem that connects entrepreneurs, industry experts, global consumer goods companies, retailers, financial institutions and communities, bridging gaps and promoting synergies to scale the circular economy.