Noon Mediterranean

Last updated
Noon Mediterranean
TypePrivate
IndustryRestaurant chain
Founded2011;10 years ago (2011) in Austin, Texas as Verts Mediterranean Grill
FoundersMichael Heyne, Dominik Stein
Defunct2018 (2018)
FateBankrupt; acquired by Daphne's Greek Cafe
Headquarters New York, New York
Area served
 Texas, Massachusetts, Pennsylvania

Noon Mediterranean (formerly VERTS Mediterranean Grill and VERTS KEBAP) was an Austin-based fast casual restaurant chain. [1] [2] [3] The company created the world's smallest food truck out of a Smart Car in 2011. [4] [5] [6] In May 2016, it was rated ninth on Restaurant Business Online's list of Top 25 Fastest-Growing Fast Casuals. [7] As of November 2017, Noon had 20 locations in the United States. [8] Noon co-founder Dominik Stein was included on Forbes ' "30 Under 30" list under the Food & Drink category in 2017. [9]

Contents

History

Verts was founded in 2011 by two University of Texas and WHU - Otto Beisheim School of Management alumni, Michael Heyne and Dominik Stein, to recreate popular food from Europe which was not available in America. [10] [11] [12]

In February 2014, the chain announced it would be expanding into Houston. [13] In October 2014, Verts entered an agreement to open three locations in Dallas-Fort Worth. [14] [15] Verts opened its first San Antonio location in September 2015. [16] In December 2015, the company brought in $20 million in private equity, which would be used to expand the restaurant to the east coast. [17] [18] [19] The first Plano location opened in April 2016. [20] Poets & Quants named Verts one of the Top MBA Startups in January 2016. [21]

In September 2016, Verts announced a new location in Center City, Philadelphia, which opened in March 2017. [22] [23] [24] In November 2016, Verts opened a new location in Boston [7] [25] [26] and announced a New York City location. [27] [28] Two more Boston locations were announced in February 2017, [29] and a location in Washington D.C. was announced that March. [30] Also in March 2017, Verts was featured on CNBC's list of 10 hot restaurant brands to watch. [8] In July 2017, Yelp showed that a total of 11 Texas locations were closed, including five in and around Austin, all three in San Antonio, and three in cities surrounding Dallas/Ft. Worth.

In November 2017, Verts was rebranded as Noon Mediterranean. [31]

Noon filed for bankruptcy on August 6, 2018 [32] and was acquired by the parent company of Daphne's Greek Cafe on October 7, 2018. [33] Noon restaurants were rebranded as Daphne's in 2019 [34] but were shuttered in late July, 2019. [35]

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References

  1. ↑ Ron Ruggless (March 8, 2016). "VertsKebap shortens name to Verts". Nation's Restaurant News. Retrieved January 24, 2017.
  2. ↑ "VertsKebap Changes Name to VERTS". QSR. March 8, 2016. Retrieved January 24, 2017.
  3. ↑ Virginia B. Wood (March 28, 2014). "Chain Gangs". The Austin Chronicle. Retrieved January 24, 2017.
  4. ↑ Kim Bhasin (October 31, 2011). "Behold, The World's Smallest Food Truck". Business Insider. Retrieved January 24, 2017.
  5. ↑ Cody Lyon (October 19, 2011). "Verts Kebap turns Smart Car into food trailer". Austin Business Journal. Retrieved January 24, 2017.
  6. ↑ Craig Hlavaty (October 17, 2016). "Texas-based VERTS Mediterranean Grill eyes national expansion". mySA. Retrieved January 24, 2017.
  7. 1 2 Cleopatra Dessalegn (November 11, 2016). "VERTS gives fresh face to Boston fast casual scene". Daily Free Press. Retrieved January 24, 2017.
  8. 1 2 Katie Little (March 23, 2017). "10 hot restaurant brands to watch to spot the next big hit". CNBC. Retrieved April 25, 2017.
  9. ↑ "Dominik Stein". Forbes. Retrieved January 24, 2017.
  10. ↑ "Verts on South Lamar offers St. Edward's students discounts". Hilltop Views. February 6, 2014. Retrieved January 24, 2017.
  11. ↑ Lauren Everitt (January 27, 2016). "VertsKebap: The $36 Million VC-Backed Mediterranean Street Food Startup". Poets & Quants. Retrieved January 24, 2017.
  12. ↑ Nicole Duncan (September 2016). "The Fast Casual Empire in the Making". QSR. Retrieved January 24, 2017.
  13. ↑ Josh Cain (February 25, 2014). "Another Austin restaurant coming to Houston". Houston Business Journal. Retrieved January 24, 2017.
  14. ↑ Candace Carlisle (October 6, 2014). "Austin-based restaurant Verts lands at 3 DFW locations". Dallas Business Journal. Retrieved January 24, 2017.
  15. ↑ Michael Theis (October 6, 2014). "Verts Kebap expands in Dallas, eyes other Texas cities". Austin Business Journal. Retrieved January 24, 2017.
  16. ↑ Katie Burke (September 1, 2015). "VertsKebap continues expansion with second San Antonio opening". San Antonio Business Journal. Retrieved January 24, 2017.
  17. ↑ Jan Buchholz (December 14, 2015). "Hot restaurant chain plucks $20M from private equity; more expansion planned". Austin Business Journal. Retrieved January 24, 2017.
  18. ↑ "VertsKebap Sets Sights on East Coast for 2016". QSR. December 14, 2015. Retrieved January 24, 2017.
  19. ↑ Gary Dinges (December 15, 2015). "$20 million investment will let Verts Kebap head to East Coast". Austin American Statesman. Retrieved January 24, 2017.
  20. ↑ Kelley Crimmins (April 12, 2016). "Austin-based restaurant Verts Kebap opens in Plano". Community Impact. Retrieved January 24, 2017.
  21. ↑ Nathan Allen (January 29, 2016). "Here Are Poets&Quants Top MBA Startups". Fortune. Retrieved January 24, 2017.
  22. ↑ Michael Klein (September 8, 2016). "Verts, a 'Chipotle of Mediterranean food,' opening in Center City". Philly.com. Retrieved January 24, 2017.
  23. ↑ "Free food at the new Verts, a fast-casual Mediterranean eatery". Philly.com. February 22, 2017. Retrieved April 25, 2017.
  24. ↑ Michael Tanenbaum (February 28, 2017). "Verts Mediterranean Grill coming to Center City via Austin". Philly Voice. Retrieved April 25, 2017.
  25. ↑ Doug Banks (October 3, 2016). "Fast-growing Mediterranean restaurant chain to open first Boston location". Boston Business Journal. Retrieved January 24, 2017.
  26. ↑ "Rapidly Expanding VERTS Set to Make East Coast Debut". QSR. October 11, 2016. Retrieved January 24, 2017.
  27. ↑ "The New Kid On The Block, VERTS Is Coming to NYC". Total Food Service. November 23, 2016. Retrieved January 24, 2017.
  28. ↑ Kate Taylor (December 21, 2016). "7 chains that will dominate the restaurant industry in 2017". Business Insider. Retrieved January 24, 2017.
  29. ↑ David L. Harris (February 22, 2017). "Fast-growing Mediterranean restaurant chain opening two more Boston locations". Boston Business Journal. Retrieved April 25, 2017.
  30. ↑ Rebecca Cooper (March 13, 2017). "More Mediterranean coming to D.C., Shake Shack'a latest opening and more reataurant news". Washington Business Journal. Retrieved April 25, 2017.
  31. ↑ Danny Klein (November 28, 2017). "VERTS Rebrands as Noon Mediterranean". QSR Magazine. Retrieved November 28, 2017.
  32. ↑ Schotz, Cole (August 7, 2019). "New Delaware Chapter 11 Filing – Noon Mediterranean, Inc". Bankruptcy & Restructuring Law. Retrieved January 4, 2020.
  33. ↑ Klein, Danny (October 17, 2019). "Daphne's to Rebrand Noon Mediterranean After Acquisition". QSR Magazine. Retrieved January 4, 2020.
  34. ↑ "Daphne's Debuts New Menu Items as Part of Larger Rebranding Efforts". franchising.com. April 10, 2019. Retrieved January 4, 2020.
  35. ↑ Blaskovich, Sarah (July 20, 2019). "Restless Mediterranean restaurant calls it quits in Dallas and beyond". Dallas Morning News. Retrieved January 4, 2020.
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