Regular readers of this blog have heard a
lot about Reef Technology. They know that Reef uses parking lots to
offer services such as ghost kitchens.
Guess what they have now raised $700 million to expand the brand and your
brand if you choose according to Johnson.
With a global view of successful growth the
Reef Technology funding was led by Mubadala Investment Company, SoftBank Vision
Fund, Oaktree Capital Management, UBS Asset Management, and Target Global.
So, think about the intersection of time
and money, permitting, and construction cost being turned on its head when you
think about the cost of growing your current business model. To date this is
one of the biggest bets yet on the ghost kitchen model, a key part of Reef’s
strategy.
Reef is a Miami-based company uses
its network of more than 4,500 parking lots to create what it calls
logistics hubs. These can include modular, off-premise-only “neighborhood
kitchens” for brands including Nathan’s Famous and BurgerFi. Reef operates
those kitchens as licensees.
Currently, Reef has more than
100 neighborhood kitchens in about 20 markets nationwide. It
also uses the hubs for micro-fulfillment, COVID testing, pop-up
clinics and vertical urban farming. That’s
right fresh fast retail distribution.
Reef CEO Ari Ojalvo stated, “We are
excited for this next stage of growth and are committed to continue learning,
listening and working with our communities to reimagine urban real estate into
localized and networked infrastructure that entrepreneurs and cities can use to
deliver goods and services sustainably and directly to our neighborhoods,” .
In a separate move, Reef and Oaktree
formed a $300 million venture to acquire strategic real estate to help
Reef grow. Is your business model looking a customer ahead? Does your
growth plan look more like yesterday than tomorrow?
Are you ready for some fresh ideations? Do your food marketing ideations look more like yesterday than tomorrow? Interested in learning how our Grocerant Guru® can edify your retail food brand while creating a platform for consumer convenient meal participation, differentiation and individualization? Email us at: Steve@FoodserviceSolutions.us or visit: us on our social media sites by clicking one of the following links: Facebook, LinkedIn, or Twitter
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