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Cava Restaurant Chain Nears $1.3 Billion Value With New Funding

Cava
CavaPhotographer: Alex Lau for CAVA

Cava Group Inc., a Mediterranean fast-casual restaurant chain, completed a $190 million financing round that will help hasten the company’s expansion.

The funding brings the value of the company close to $1.3 billion, according to a person with knowledge of the matter who asked not to be identified. The Series F round was led by T. Rowe Price Group and investors including the Equilibra Partners Management, Lighthouse Investment Partners and Declaration Partners.