Dutch Bros Inc. (NYSE: BROS), the quick-service beverage chain, is acquiring the real estate and related site assets of up to 65 Salad and Go locations across Arizona, Nevada, Oklahoma, and Texas.
Salad and Go opened in 2013 in Gilbert, Arizona. The company announced on Tuesday that it was filing for bankruptcy and was shutting down all of its locations.
The terms of the acquisition were not disclosed by Dutch Bros, although the Phoenix New Times reported the price was $105 million. The Tempe, Arizona-based company said the deal would result in a portfolio of established drive-thru locations that will be converted into Dutch Bros shops in 2027.
“New shop growth is one of the most important drivers of our long-term strategy, and this potential site acquisition demonstrates how we’re investing to accelerate that growth,” said Christine Barone, president and CEO of Dutch Bros. “These sites would expand our leadership position across Arizona, Nevada, Oklahoma, and Texas, where we’ve built strong brand awareness and see a significant opportunity to continue densifying our footprint. As we thoughtfully convert these sites, we look forward to bringing the Dutch Bros experience to even more communities.”
Photo: ajay_suresh / Flickr Creative Commons
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