Nearly 14 years ago, on something of a lark, the restaurateur Danny Meyer
opened a Chicago-style hot dog cart in Manhattan’s Madison Square Park,
hoping to draw crowds to the park and give summer jobs to the staff at
one of his nearby high-end restaurants. That stand has morphed into Shake Shack, a burger-and-crinkle-fries empire with outposts in London, Dubai, Istanbul and Las Vegas.
On
Friday, it will begin trading on the New York Stock Exchange with a
valuation of about $745 million and will increase Meyer’s net worth by
about $155 million.
Conceived as an homage to the
friendly Midwestern fast-food joints of Meyer’s childhood, Shake Shack
has become one of the most prominent purveyors of fast-casual food. That
sector, dominated by the likes of Chipotle, has fundamentally reshaped
the fast-food industry with its emphasis on using fresh ingredients with
a better backstory.
Read more at Click here / www.trade4x.net
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