Sustainable Restaurant Group Receives Strategic Investment From Bain Capital Double Impact
PORTLAND AND BOSTON, April 10, 2018 – Sustainable Restaurant Group (“SRG”), the world’s first sustainable sushi restaurant group and the operator of Bamboo Sushi and QuickFish, today announced a strategic investment to support its expansion and mission-focused vision. Lead investor Bain Capital Double Impact, the impact investing fund of Bain Capital, was joined by Kitchen Fund to support Sustainable Restaurant Group’s entrance into new regional markets and to amplify the concepts’ commitment to sustainability efforts.
Founded in 2008, Sustainable Restaurant Group is a collection of mission-focused restaurant concepts that are defining the future of hospitality through a commitment to environmental and social change. Sustainable Restaurant Group’s portfolio includes Bamboo Sushi, the world’s first certified sustainable sushi restaurant, and QuickFish, a sustainable quick service restaurant. The company operates five full-services locations in Portland, Oregon and Denver, offering customers authentic, premium dining experiences. Sustainable Restaurant Group has built a clear, transparent supply-chain that validates fishing practices, and excludes severely overfished oceans, fish fraud and health risks associated with farm-raised fish. The company has committed to expanding awareness of sustainability and health & wellness benefits of fish consumption through in-store green initiatives and consumer engagement programs. For instance, no Bluefin tuna or other “red-listed” seafood is served. SRG is certified as a B Corp and all Bamboo Sushi and QuickFish locations are certified by the James Beard Foundation’s Smart Catch program, the Marine Stewardship Council and the Green Restaurant Association.
“We’re excited to partner with Bain Capital Double Impact and Kitchen Fund at a crucial point in our growth trajectory, and at a time when the fishing industry is plagued by inefficient supply-chains and unhealthy farm-raised fish,” said Kristofor Lofgren, founder & CEO, Sustainable Restaurant Group. “With the benefit of Bain Capital Double Impact and Kitchen Fund’s impressive restaurant experience, we are well-positioned to achieve our goal of providing mindful customers with a premium sushi dining experience at a great value while doubling down on our advocacy programs dedicated to sustainable fishing practices and supply chain transparency.”
In 2017, Sustainable Restaurant Group launched its Carbon Calculator tool, which was created to determine the company’s carbon footprint down to the individual menu item and the offsets required to neutralize its affect on the environment. The Carbon Calculator is the latest tool Sustainable Restaurant Group is using to drive the conversation on sustainability in the industry. To offset carbon emissions, Sustainable Restaurant Group partners with The Ocean Foundation and its Seagrass Grow project to donate funds annually.
“Sustainable Restaurant Group is an authentic, compelling brand that stands out across all social dimensions,” said Warren Valdmanis, a Managing Director at Bain Capital Double Impact. “Kristofor and his high-quality management team have done an exceptional job of tapping into a growing segment of customers who recognize that eating sustainability sourced seafood is not only better for you, but also better for the planet. We look forward to partnering with Sustainable Restaurant Group to support Bamboo Sushi and QuickFish’s high-potential for growth in new markets and to scale their vision of broader environmental impact.”
Bain Capital has a long history of successful investments in mission-oriented companies, and significant experience in helping restaurant businesses grow and expand geographically. Kitchen Fund is a leading investor in early stage restaurants, having helped grow iconic fast-casual concepts into international brands in an impressive 18 months since inception.
Over the next two years, Sustainable Restaurant Group plans to open 10 or more locations, mostly in new market to meet the demand of consumers seeking an authentic, premium sushi experience.
About Sustainable Restaurant Group
Sustainable Restaurant Group (SRG) is a collection of brands that are defining the future of hospitality through a deep commitment to environmental and social change. SRG started in 2008 with the launch of Bamboo Sushi, the world’s first sustainable sushi restaurant, and then in 2016 added QuickFish, a sustainable quick service restaurant. SRG operates six locations in Portland, Oregon and Denver, with ten more to open in the next two years, including in new markets such as Seattle and San Francisco. SRG makes mindful business decisions that connect environmental impact, the prosperity of team members and purveyors, as well as the enrichment of the communities lived in. SRG seeks opportunities to create new concepts that inspire change by providing an innovative experience that meets the mind and enlivens the spirit. http://sustainablerestaurantgroup.com/
About Bain Capital Double Impact
Bain Capital Double Impact (www.baincapitaldoubleimpact.com) is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact utilizes Bain Capital’s proven, deep diligence, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact focuses on health & wellness, sustainability, and community building to create long-term value and meaningful impact at scale. Its goal is to enable the next phase of financial and impact growth for our partner companies, which are solving critical social problems, and doing so profitably. We believe that our value-added approach, experienced team, and broad platform expertise will help our partner companies to thrive.
About Kitchen Fund
Kitchen Fund (https://www.kitchenfund.com/) is the premier early stage investor in growth restaurant brands. In today’s rapidly changing food landscape, only brands with an authentic perspective and experience make lasting connections with their guests. That is why Kitchen Fund invests in the brands people love for more than just the menu. Kitchen Fund provides outsized investment returns through the application of operational expertise and unique access to the best emerging concepts. The fund provides capital, connections and know-how to help founders bring their story, ethos and recipes to eaters everywhere. Since its inception only 18 months ago, the group has made investments in several segment-defining brands.
