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Ghost kitchens firm REEF buys into automated pizza concept

REEF

Dark kitchens giant REEF has taken a board seat and agreed to purchase an ownership stake in 800 Degrees Go, the automated pizza dining concept for fast-casual food options.

The two brands plan to open five hundred 800 Degrees Go locations over the next five years, both in the US and internationally.

The companies also announced that Kenneth Rourke, executive VP of kitchens and brands at REEF, will join the board of directors of 800 Degrees Go, effective immediately.

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In parallel, REEF will pursue an ownership stake in the company, which is tied directly to the expansion and success of 800 Degrees Go locations within REEF.

“As one of the largest operators of restaurant brands in the world, REEF is looking for incredible brands with potential for growth globally,” said Mr Rourke.

“We’re investing heavily in the success of 800 Degrees Go into our ghost kitchens because we believe 800 Degrees Go is one of those brands. We look forward to growing the brand as well as our stake in the company.”

800 Degrees Go has already launched over 40 REEF locations in 13 markets, with plans to have more than 100 locations open by the end of 2022.

Additionally, 800 Degrees Go will be opening its flagship brick-and-mortar location in California this summer, which will serve as the R&D and training hub for future franchise growth and the expansion of the ‘800 Degrees Go by Piestro’ robotic pizzeria pods.

800 Degrees Go is targeting over $19m in annual sales by the beginning of 2023 and expects to grow that to $160m within the next five years, not including 800 Degrees by Piestro sales.

Tommy Lee, CEO of 800 Degrees Go, said: “As our ghost kitchen business grows with REEF, we will significantly expand our brick-and-mortar footprint, followed by the ‘800 Degrees Go by Piestro’ robotic pods. Explosive growth is well within our grasp as we move through the next five years of business.”

REEF is one the largest operators of delivery and ghost kitchen restaurants in the world, boasting a network of delivery kitchens spanning more than 8,500 locations.

IMAGE CREDIT: www.reeftechnology.com

Tags : 800 Degrees Godelivery kitchensghost kitchensREEF
Andrew Seymour

The author Andrew Seymour

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