First Watch buys breakfast chain
BRADENTON, FLA. – First Watch Restaurants, Inc., a breakfast, brunch and lunch concept, has acquired The Good Egg, a 20-unit breakfast chain based in Arizona. Financial terms of the deal were not disclosed.
“This acquisition significantly accelerates our growth in a very desirable market and strengthens our scope and reach in the Southwest,” said Ken Pendery, president and chief executive officer of First Watch. “The Good Egg is a well-established concept that was developed in Arizona, grew successfully, and has built a loyal and passionate customer base that we plan to nurture and grow.”
Opened in 1987, the Good Egg has 15 restaurants in the Phoenix area and five in Southern Arizona. Kevin Hall, an operator with more than 20 years at First Watch, will lead operations of The Good Egg, with support from its operating partners, Matt Trusela and Frank Collins.
“Combining The Good Egg with First Watch represented a true strategic alignment and will provide our concept with the necessary resources to continue to grow,” said Charlie Syburg, an original partner of The Good Egg.
First Watch has more than 115 restaurants in 16 states and additional units are under development. The chain specializes in breakfast, brunch and lunch, offering omelets, pancakes, sandwiches and salads.