Urban Egg Receives Significant Investment from L Catterton to Accelerate Growth and Expansion

COLORADO SPRINGS, Colo. and GREENWICH, Conn., April 27, 2023 /PRNewswire/ -- Urban Egg, an award-winning, Colorado-based restaurant concept, today announced that it has received a significant investment from the Growth Fund of L Catterton, a leading global consumer-focused investment firm. This investment will enable Urban Egg to continue its growth and expansion in existing and new markets. Terms of the transaction were not disclosed.

Founded in 2012 by Randy and Liz Price, Urban Egg is known for its award-winning, scratch-made breakfast, brunch, and lunch.  The brand is built on a commitment to operational excellence, genuine and sincere hospitality, a culinary mission centered around fresh, locally sourced ingredients, and innovative recipes and presentations. Since opening its doors in historic downtown Colorado Springs, Urban Egg has steadily grown its footprint across Colorado, with eight locations operating throughout Colorado Springs, Denver, Fort Collins, and Johnstown. On the heels of its success in Colorado, in 2022, Urban Egg expanded to Overland Park, Kansas, and has experienced strong performance and community reception since opening. Urban Egg has received significant recognition across its markets for its cuisine, including being named Best Pancakes in Colorado by Reader's Digest, one of the Best Restaurants in Colorado Springs by US News & World Report, Best Brunches in Denver by Thrillist, and most recently Hot New Concept by the Kansas Restaurant and Hospitality Association.

"We created Urban Egg a decade ago after identifying a major gap in the elevated dining segment of breakfast and brunch in my hometown of Colorado Springs," said Urban Egg CEO and Founder Randy Price. "Based on the success of our initial restaurant, we have been able to slowly grow our footprint across Colorado, and most recently to Kansas. With L Catterton's one-of-a-kind track record of growing distinctive restaurant brands, we will be able to accelerate our dreams of bringing America's Best Breakfast to more deserving consumers across the country."

"Daytime dining is one of the most attractive segments of the restaurant sector and has proven resilient throughout cycles with consistent year-over-year growth," said Jon Owsley, Co-Managing Partner of the Growth Fund at L Catterton. "Randy and the Urban Egg team have created a fantastic dining experience that has attracted frequent visitation and loyalty among its customer base. We look forward to working with the entire Urban Egg team to further enhance the customer experience and accelerate growth."

L Catterton has significant experience investing in restaurant brands, including Velvet Taco, Mendocino Farms, bartaco, CHOPT Creative Salad Company, Dos Toros Taqueria, Hopdoddy, Piada, Primanti Bros, Noodles & Company, Cheddar's, First Watch, and P.F. Chang's, among others.

About Urban Egg

Founded in 2012 by Randy & Liz Price, Urban Egg is a daytime focused restaurant serving scratch-made, elevated breakfast, brunch and lunch items that take a modern twist on the classics to provide a distinctive culinary experience. Served in a warm and inviting environment, the Company uses the freshest, high-quality ingredients to ensure its customers' best day starts at Urban Egg. The Company currently operates nine units across four distinct markets. For more information about Urban Egg, please visit www.urbaneggeatery.com.

About L Catterton                                                                                                                             

L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

Media Contact:

Urban Egg
Jami Leahy
Marketing Director
[email protected]
719.357.8475

L Catterton
Julie Hamilton
Managing Director, Firm Communications
[email protected]
203.742.5185

SOURCE Urban Egg