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\n We break down complex business news to help you understand how money moves in Chicago and how it affects you.\n <\/p>\n<\/p><\/div>\n
Chicago-based Protein Bar & Kitchen will be acquired by Founders Table Restaurant Group, the holding company of Chopt and Dos Toros Taqueria, the companies announced Thursday.<\/p>\n
The acquisition, for an undisclosed sum, will boost Protein Bar\u2019s plans to expand company-owned locations across the U.S., as well as in nontraditional venues like health care centers, airports, universities and transportation hubs.<\/p>\n
Protein Bar, founded in 2009, was a pioneer in protein shakes and smoothies then expanded to healthy fast casual salads, wraps and more.<\/p>\n
Since opening its first storefront at 235 S. Franklin St., across from the Willis Tower, Protein Bar has grown to 15 sites and four licensed locations in the Chicago area and airports in New York City, Boise and Salt Lake City.<\/p>\n
Protein Bar is headquartered in the Loop and has about 125 employees. Its headcount will not change after the acquisition, according to the company.<\/p>\n
The brand recently launched a franchising program, and it has plans for new locations in Indiana and the Chicago suburbs in 2026. Franchises in Indianapolis are expected to open in spring and Downers Grove in the summer. More agreements are in the works, the company said.<\/p>\n
\u201cWith an established platform and 30 franchised and licensed locations already in development, we believe the support of the Founders Table platform will allow us to successfully accelerate our growth,\u201d Protein Bar CEO Jeff Drake said in a news release.<\/p>\n
Drake and Chief Operating Officer Jared Cohen will remain with Protein Bar.<\/p>\n
\u201cWe see enormous opportunity in premium and blended beverages, and have been following [Protein Bar\u2019s] success over the past several years,\u201d Chopt CEO Nick Marsh said in a news release. \u201cOver the past eight years, Jeff and Jared have built an extremely profitable model to support the growth of the [Protein Bar].\u201d<\/p>\n
In 2024, Protein Bar opened in New York\u2019s LaGuardia Airport as co-tenants with Chopt and Dos Toros.<\/p>\n
Fast casual restaurants have been seeing sluggish business.<\/p>\n
\u201cMomentum for fast-casual players\u202fwill continue to slow as the segment hits maturity,\u201d according to research firm Technomic\u2019s 2026 U.S. food service trends report. \u201cAfter doubling in size over the last decade, growth is becoming increasingly difficult for the fast-casual segment.\u201d<\/p>\n
Matt Matros founded Protein Bar after losing 50 pounds on a high-protein diet. He sold the company to private equity firm L Catterton in 2013.<\/p>\n
Chopt Creative Salad Co. has about 100 locations, mostly in New York, as well as Maryland, Washington, D.C., New Jersey and other states, according to its website.<\/p>\n
Dos Toros Taqueria has about 20 locations, mostly in New York and four in Washington D.C., according to its website. Founders Table is based in Rye, New York.<\/p>\n<\/div>\n
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