Home Hotel service C3 will add outlets in hotels and stadiums with the help of new investors

C3 will add outlets in hotels and stadiums with the help of new investors

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C3 owns Crispy Rice, Sam’s Krispy Chicken and over 40 other brands. / Photograph courtesy of C3

Digital restoration company C3 plans to expand its presence with the help of three new investors.

A trio of backers – Abu Dhabi Capital Group, Arden Digital Ventures and Clearlake Capital Group – will help build C3’s presence at home and abroad, and in places like hotels, stadiums and more real estate, the company said on Tuesday.

Financial terms of the agreements were not disclosed.

C3 (short for Creating Culinary Communities), currently owns 45 limited-service restaurant brands, including Umami Burger, Krispy Rice and Sam’s Crispy Chicken, across a network of physical restaurants, food halls, ghost kitchens, hotels, of airports and Suite. In June, there were 800 locations in the United States

The investment from Abu Dhabi Capital Group will help the company expand its reach overseas in the United Arab Emirates. C3 already has a presence there through a partnership with ghost kitchen company Kitopi, and Abu Dhabi will support this venture as well as other joint ventures in the region, the company said.

C3 will use funding from Arden and Clearlake, meanwhile, to fuel its national growth, including in new towns and suburbs. Arden, which says it provides capital “at the intersection of real estate and technology,” will aim to place C3 locations in commercial real estate and hotels.

Clearlake, through its subsidiary Victory Live, will work to integrate C3 concepts into the sports stadiums it operates. It will also bring its expertise as a large investment firm, with more than $72 billion in assets and more than 300 investments to its name, C3 said. In May, Clearlake teamed up with investor Todd Boehly to buy English football club Chelsea.

“Because of our indisputable success and to keep pace with consumer demand, it is imperative that we continually and tactically expand our presence,” said Sam Nazarian, CEO and Founder of C3, in a statement. With the new investments, “we are able to not only maintain our rate of expansion and scale as needed, but also exceed expectations and continue to establish C3 as an industry leader in food technology. . ”

This is the latest round of capital injections for C3, which said it has 3,000 to 4,000 new locations in its pipeline for this year. Ghost kitchen operator Reef led an $80 million investment in the company last July, and in August TriArtisan Capital Partners, the parent company of TGI Fridays and Hooters, took an $10 million stake in the society.

Major property developer Simon Properties and hotel operator Accor also hold stakes in the company.

C3 is among the companies that have benefited from a delivery and takeout boom during the pandemic. But it remained committed to operating physical locations as well as digital locations as it grew.

“We’re not just a digital-only burger branding company like some competitors in our space,” Nazarian told Restaurant Business in April. “We really provide real brands that have a physical presence.”

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