CSG Snapshot: Cafe Rio Mexican Grill
215 N Admiral Byrd Rd
Salt Lake City, UT 84116
$185 million (e)
AZ, CA, CO, ID, MD, MT, NV, UT, VA, WA, WY
CEO: Dave Gagnon
President + CFO: Steve Vaughan
COO: Abe Hollands
Since early 2014, reports have surfaced that the private equity owners of Cafe Rio, Inc. (KarpReilly LLC) had plans to take the freshly-made-from-scratch fast-casual Mexican concept public. The theory received a boost in 2015 when Steve Vaughan signed on as President and CFO, bringing along his Sonic Drive-Ins experience with publicly traded companies. Fast forward to October 2016, and Cafe Rio has just opened its 100th location. To get to store number 100, the Cafe Rio team opened 14 restaurants this year, the largest one-year total in the company’s history. And they did it the hard way – all 100 locations are company owned. “Over 100 locations” has to sound better than “94 locations” to potential investors should the chain embark on an IPO. Time will tell.
Source: Chain Store Guide’s Database of Chain Restaurant Operators. *CSG estimate/projection based on proprietary analysis and company statements. Actual figures are subject to change. This data is not intended for investment decisions.