Avocaderia wants to open 20 new locations in the next five years
Billionaire extraordinaire Mark Cuban is now an investor in Brooklyn’s all-avocado restaurant Avocaderia after he threw down $200,000 in last night’s episode of Shark Tank. Under his and fellow shark Barbara Corcoran’s — who also invested $200K for a 10 percent stake — guidance, owner Alessandro Biggi hopes to open an additional 20 locations nationwide for the hungry masses, Munchies reports.
When Avocaderia opened in Sunset Park’s food hall Industry City in April, millennials showed up in droves, selling out the shop in a mere three hours. Biggi immediately pounced on the success, securing a six-figure book deal and announcing plans to open in Manhattan, as this investment will surely help do. Los Angeles, San Diego, Miami, and Texas are also on tap for locations of the restaurant that serves toast, smoothies, salads, and more.
Biggi initially asked for $300,000 for a 10 percent stake. After trying the food, Cuban and Corcoran went in, ultimately valuing the restaurant at $2 million. Now, Biggi’s plans are closer to fruition, but he’ll have to hurry: Another avocado restaurant opened recently in Chinatown, and, as Munchies notes, Amsterdam-based restaurant The Avocado Show is eyeing expansion in North America, Asia, and Australia.
Source: NYC eater
Mark Cuban Just Invested in Brooklyn’s All-Avocado Restaurant