"We are thrilled to have Larry join Lemonade as President and CEO and believe it is the next step in growing Lemonade as a national brand. We selected Larry for his innate ability to shepherd strong brands to the next level of success and believe that his seasoned experience as a key executive leading best-in-category consumer-retail brands is an incredible and unique asset that will be instrumental in Lemonade's continued growth," said Lemonade founder Alan Jackson. "Larry's addition to Lemonade will allow the Co-Founders to focus on the areas of Lemonade we're most passionate about: food, culture, and guest experience."
"The chance to join Lemonade as President and CEO at this unique and exciting moment in time is an opportunity that's incredibly well-suited for me," said Larry Kurzweil. "Alan Jackson and his team have done an outstanding job creating and expanding Lemonade as an iconic and culturally transformative dining experience. I admire Lemonade's vision for the future of this business and am excited to be a part of its growth as it continues to evolve."
Adam Waglay and Dustin Beck, Co-Founders of Butterfly Equity which, along with KKR, holds a significant interest in Lemonade, added, "We've been thrilled to be a part of Lemonade, and the opportunity to attract someone of Larry's caliber to join forces with the Lemonade team could not be more exciting. We look forward to combining Alan's unique and compelling food offering with Larry's brand building and operational expertise to truly build this into a category-defining brand that can expand across the United States and eventually around the world."
About Lemonade Restaurant Group:
Lemonade is a Los Angeles-based restaurant company known for their unique and seasonally changing menu that provides healthy, farmer's market-inspired food at an affordable price to its guests in a relaxed, eco-friendly space. First opened in 2008 by Chef and Founder Alan Jackson, Lemonade captures the California spirit of culinary adventure and an appreciation for the freshest seasonal ingredients. Executed in a celebratory atmosphere, the restaurants put an emphasis on convenience and affordability, while placing the customer at the center of the user experience.
Since the opening of its flagship location in West Hollywood in 2008, Lemonade now has 25 locations throughout Los Angeles, Orange County, San Diego and more recently the San Francisco Bay Area.
Butterfly Equity ("Butterfly") is a Los Angeles, California based private equity firm focused on investments in the food industry, spanning the entire food value chain from "seed to fork" via four target verticals: agriculture & aquaculture, food & beverage products, food retail & distribution and restaurants. Butterfly aims to generate attractive investment returns through deep industry specialization, a differentiated approach to sourcing and screening transactions, and leveraging extensive operational expertise.
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SOURCE Lemonade Restaurant Group