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'''First Watch''' is a [[restaurant chain]] based in University Park, FL.<ref name=":0">{{Cite web|url=http://companies.bizjournals.com/profile/first-watch-restaurants/150924/|title=http://companies.bizjournals.com/profile/first-watch-restaurants/150924/|website=companies.bizjournals.com|access-date=2018-03-27}}</ref> The headquarters are located at 8027 Cooper Creek Blvd in University Park, FL.<ref name=":0" /> The 6,000 employees that are employed by First Watch are spread among the more than 200 locations across 26 states.<ref name=":1"/> The first was opened in [[Pacific Grove, California|Pacific Grove]], [[California]] in 1983 by Ken Pendery and John Sullivan. They moved the business to Bradenton, FL in 1986. First Watch restaurants are named for the nautical terminology that refers to the first shift of the day.<ref>[http://www.firstwatch.com/faqs.htm Faqs] First Watch website</ref> They cofounded it after leaving the [[Le Peep]] breakfast chain in Colorado. Since January 1, 2016, Kenneth L Pendry Jr. has been the CEO.<ref name=":0" /> The President of First Watch is Christopher A. Tomasso, the Chief Financial Officer is Paul Hineman, the Chief Operating Officer is Richard M. Akman, and the Director of Brand is Kevin Hall.<ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21823360|title=First Watch Restaurants, Inc.: Private Company Information - Bloomberg|website=www.bloomberg.com|access-date=2018-03-27}}</ref> First Watch restaurants are only open between 7am-2:30pm.<ref>{{citeweb|url=https://www.firstwatch.com/about-us/our-history/|title=Our History - First Watch|publisher=First Watch website|}}</ref>
'''First Watch''' is a [[restaurant chain]] based in University Park, FL.<ref name=":0">{{Cite web|url=http://companies.bizjournals.com/profile/first-watch-restaurants/150924/|title=http://companies.bizjournals.com/profile/first-watch-restaurants/150924/|website=companies.bizjournals.com|access-date=2018-03-27}}</ref> The 6,000 employees that are employed by First Watch are spread among the more than 200 locations across 26 states.<ref name=":1"/> The first was opened in [[Pacific Grove, California|Pacific Grove]], [[California]] in 1983 by Ken Pendery and John Sullivan. They moved the business to Bradenton, FL in 1986. First Watch restaurants are named for the nautical terminology that refers to the first shift of the day.<ref>[http://www.firstwatch.com/faqs.htm Faqs] First Watch website</ref> They cofounded it after leaving the Le Peep breakfast chain in Colorado. Since January 1, 2016, Kenneth L Pendry Jr. has been the CEO.<ref name=":0" /> First Watch restaurants are only open between 7am-2:30pm.<ref>{{citeweb|url=https://www.firstwatch.com/about-us/our-history/|title=Our History - First Watch|publisher=First Watch website|}}</ref>


In 2016, the restaurant chain made $243 million in revenue. The Colorado-based Egg & I Restaurants were bought by First Watch in May 2015.<ref name=":1">{{Cite news|url=https://www.jaxdailyrecord.com/article/first-watchs-bold-growth-move|title=First Watch’s bold growth move {{!}} Jax Daily Record {{!}} Financial News & Daily Record - Jacksonville, Florida|date=2017-09-11|work=Financial News & Daily Record - Jacksonville, Florida|access-date=2018-03-27|language=en}}</ref> The Egg & I has 114 eateries across twenty states.<ref name=":2">{{Cite news|url=http://www.westword.com/restaurants/first-watch-opens-first-denver-branch-acquires-the-egg-and-i-6753044|title=First Watch Opens First Denver Branch, Acquires The Egg & I|last=Antonation|first=Mark|date=2015-05-28|work=Westword|access-date=2018-03-27}}</ref> Not every Egg & I Restaurant location will become a First Watch, but as of 2016, 22 conversions had been completed. In 2014, First Watch bought The Good Egg, which is located in Arizona. 18 of The Good Egg restaurants have been converted into First Watch restaurants.<ref name=":1" /> Additionally, First Watch owns Bread & Company, a bakery and cafe located in Nashville, Tennessee.<ref name=":2" />
The Colorado-based Egg & I Restaurants were bought by First Watch in May 2015.<ref name=":1">{{Cite news|url=https://www.jaxdailyrecord.com/article/first-watchs-bold-growth-move|title=First Watch’s bold growth move {{!}} Jax Daily Record {{!}} Financial News & Daily Record - Jacksonville, Florida|date=2017-09-11|work=Financial News & Daily Record - Jacksonville, Florida|access-date=2018-03-27|language=en}}</ref> The Egg & I has 114 eateries across twenty states.<ref name=":2">{{Cite news|url=http://www.westword.com/restaurants/first-watch-opens-first-denver-branch-acquires-the-egg-and-i-6753044|title=First Watch Opens First Denver Branch, Acquires The Egg & I|last=Antonation|first=Mark|date=2015-05-28|work=Westword|access-date=2018-03-27}}</ref> Not every Egg & I Restaurant location will become a First Watch, but as of 2016, 22 conversions had been completed. In 2014, First Watch bought The Good Egg, which is located in Arizona. 18 of The Good Egg restaurants have been converted into First Watch restaurants.<ref name=":1" /> Additionally, First Watch owns Bread & Company, a bakery and cafe located in Nashville, Tennessee.<ref name=":2" />


Advent International, a private equity firm, bought a majority stake in First Watch in 2017. Advent International valued the restaurant chain between $300 million and $500 million. Advent International bought First Watch from Freeman Spogli & Co, which obtained First Watch in 2011.<ref name=":3">{{Cite news|url=https://www.reuters.com/article/us-first-watch-investment-advent/advent-invests-in-u-s-caf-operator-first-watch-restaurants-idUSKBN1AC3DB|title=Advent invests in U.S. café operator First Watch Restaurants|last=Editorial|first=Reuters|work=U.S.|access-date=2018-03-27|language=en-US}}</ref> [[Freeman Spogli & Co.]] bought out the 85 percent stake previously held by [[Catterton Partners]].<ref name="success" /> Catterton's stake was acquired in 2004 with a $35 million investment that allowed First Watch to expand in the Southeast and Midwest, doubling the number of First Watch restaurants.<ref>John Hielscher [http://www.heraldtribune.com/article/20111223/article/111229802 Firm buys First Watch restaurant chain] December 23, 2011 Sarasota Herald-Tribune</ref> First Watch has a large presence in Florida, Texas, Ohio, Colorado, and Arizona. First Watch and the Egg & I restaurants serve breakfast, brunch, and lunch and offer a wide variety of items.<ref name=":3" />
Advent International, a private equity firm, bought a majority stake in First Watch in 2017. Advent International bought First Watch from Freeman Spogli & Co, which obtained First Watch in 2011.<ref name=":3">{{Cite news|url=https://www.reuters.com/article/us-first-watch-investment-advent/advent-invests-in-u-s-caf-operator-first-watch-restaurants-idUSKBN1AC3DB|title=Advent invests in U.S. café operator First Watch Restaurants|last=Editorial|first=Reuters|work=U.S.|access-date=2018-03-27|language=en-US}}</ref> [[Freeman Spogli & Co.]] bought out the 85 percent stake previously held by [[Catterton Partners]].<ref name="success" /> Catterton's stake was acquired in 2004 with a $35 million investment that allowed First Watch to expand in the Southeast and Midwest, doubling the number of First Watch restaurants.<ref>John Hielscher [http://www.heraldtribune.com/article/20111223/article/111229802 Firm buys First Watch restaurant chain] December 23, 2011 Sarasota Herald-Tribune</ref> First Watch has a large presence in Florida, Texas, Ohio, Colorado, and Arizona. First Watch and the Egg & I restaurants serve breakfast, brunch, and lunch and offer a wide variety of items.<ref name=":3" />


In 2016, Mac Haik Enterprises agreed to an exclusive franchise development agreement with First Watch to develop 18 restaurants in Southeastern Texas and Southwestern Louisiana. First Watch offers menu items such as Avocado Toast, Smoked Salmon Eggs Benedict, Farm Stand Breakfast Tacos, Lemon Ricotta Pancakes, and a Fresh Juice Bar.<ref>{{Cite news|url=https://www.foodnewsfeed.com/chain-restaurants/first-watch-inks-largest-franchise-agreement-date|title=First Watch Inks Largest Franchise Agreement to Date|last=danny|date=2016-02-02|work=Food Newsfeed|access-date=2018-03-27|language=en}}</ref>
First Watch offers menu items such as Avocado Toast, Smoked Salmon Eggs Benedict, Farm Stand Breakfast Tacos, Lemon Ricotta Pancakes, and a Fresh Juice Bar.<ref>{{Cite news|url=https://www.foodnewsfeed.com/chain-restaurants/first-watch-inks-largest-franchise-agreement-date|title=First Watch Inks Largest Franchise Agreement to Date|last=danny|date=2016-02-02|work=Food Newsfeed|access-date=2018-03-27|language=en}}</ref>


In 2018, First Watch began to source its coffee from Huila, Colombia. The company calls this Project Sunrise, and the single-origin coffee is grown from a group of women living in Colombia. First Watch chose to change their coffee source because they want to, “Support these hard-working women and their families in Huila in 2018.” Royal Cup Coffee, an Alabama-based coffee company, roasts the coffee.<ref>{{Cite news|url=https://dailycoffeenews.com/2018/01/11/restaurant-chain-first-watch-revamps-coffee-program-with-single-origin-focus/|title=Restaurant Chain First Watch Revamps Coffee Program with Single-Origin Focus|date=2018-01-11|work=Daily Coffee News by Roast Magazine|access-date=2018-03-27|language=en-US}}</ref>
In 2018, First Watch began to source its coffee from Huila, Colombia. because they want to, “Support these hard-working women and their families in Huila in 2018.” Royal Cup Coffee, an Alabama-based coffee company, roasts the coffee.<ref>{{Cite news|url=https://dailycoffeenews.com/2018/01/11/restaurant-chain-first-watch-revamps-coffee-program-with-single-origin-focus/|title=Restaurant Chain First Watch Revamps Coffee Program with Single-Origin Focus|date=2018-01-11|work=Daily Coffee News by Roast Magazine|access-date=2018-03-27|language=en-US}}</ref>


First Watch ranked as the best breakfast chain in a survey of 150,000 ''[[Consumer Reports]]'' readers earning top ratings in taste, service, value, and menu choices.<ref name="success">Mark Albright [http://www.tampabay.com/news/business/retail/article1222039.ece Breakfast, lunch, success] First Watch chain is making the most of the early end of the day March 27, 2012 Tampa Bay Times</ref>
First Watch ranked as the best breakfast chain in a survey of 150,000 ''[[Consumer Reports]]'' readers earning top ratings in taste, service, value, and menu choices.<ref name="success">Mark Albright [http://www.tampabay.com/news/business/retail/article1222039.ece Breakfast, lunch, success] First Watch chain is making the most of the early end of the day March 27, 2012 Tampa Bay Times</ref>

Revision as of 22:33, 3 July 2018

First Watch is a restaurant chain based in University Park, FL.[1] The 6,000 employees that are employed by First Watch are spread among the more than 200 locations across 26 states.[2] The first was opened in Pacific Grove, California in 1983 by Ken Pendery and John Sullivan. They moved the business to Bradenton, FL in 1986. First Watch restaurants are named for the nautical terminology that refers to the first shift of the day.[3] They cofounded it after leaving the Le Peep breakfast chain in Colorado. Since January 1, 2016, Kenneth L Pendry Jr. has been the CEO.[1] First Watch restaurants are only open between 7am-2:30pm.[4]

The Colorado-based Egg & I Restaurants were bought by First Watch in May 2015.[2] The Egg & I has 114 eateries across twenty states.[5] Not every Egg & I Restaurant location will become a First Watch, but as of 2016, 22 conversions had been completed. In 2014, First Watch bought The Good Egg, which is located in Arizona. 18 of The Good Egg restaurants have been converted into First Watch restaurants.[2] Additionally, First Watch owns Bread & Company, a bakery and cafe located in Nashville, Tennessee.[5]

Advent International, a private equity firm, bought a majority stake in First Watch in 2017. Advent International bought First Watch from Freeman Spogli & Co, which obtained First Watch in 2011.[6] Freeman Spogli & Co. bought out the 85 percent stake previously held by Catterton Partners.[7] Catterton's stake was acquired in 2004 with a $35 million investment that allowed First Watch to expand in the Southeast and Midwest, doubling the number of First Watch restaurants.[8] First Watch has a large presence in Florida, Texas, Ohio, Colorado, and Arizona. First Watch and the Egg & I restaurants serve breakfast, brunch, and lunch and offer a wide variety of items.[6]

First Watch offers menu items such as Avocado Toast, Smoked Salmon Eggs Benedict, Farm Stand Breakfast Tacos, Lemon Ricotta Pancakes, and a Fresh Juice Bar.[9]

In 2018, First Watch began to source its coffee from Huila, Colombia. because they want to, “Support these hard-working women and their families in Huila in 2018.” Royal Cup Coffee, an Alabama-based coffee company, roasts the coffee.[10]

First Watch ranked as the best breakfast chain in a survey of 150,000 Consumer Reports readers earning top ratings in taste, service, value, and menu choices.[7]

References

  1. ^ a b "http://companies.bizjournals.com/profile/first-watch-restaurants/150924/". companies.bizjournals.com. Retrieved 2018-03-27. {{cite web}}: External link in |title= (help)
  2. ^ a b c "First Watch's bold growth move | Jax Daily Record | Financial News & Daily Record - Jacksonville, Florida". Financial News & Daily Record - Jacksonville, Florida. 2017-09-11. Retrieved 2018-03-27.
  3. ^ Faqs First Watch website
  4. ^ "Our History - First Watch". First Watch website. {{cite web}}: Cite has empty unknown parameter: |1= (help)
  5. ^ a b Antonation, Mark (2015-05-28). "First Watch Opens First Denver Branch, Acquires The Egg & I". Westword. Retrieved 2018-03-27.
  6. ^ a b Editorial, Reuters. "Advent invests in U.S. café operator First Watch Restaurants". U.S. Retrieved 2018-03-27. {{cite news}}: |first= has generic name (help)
  7. ^ a b Mark Albright Breakfast, lunch, success First Watch chain is making the most of the early end of the day March 27, 2012 Tampa Bay Times
  8. ^ John Hielscher Firm buys First Watch restaurant chain December 23, 2011 Sarasota Herald-Tribune
  9. ^ danny (2016-02-02). "First Watch Inks Largest Franchise Agreement to Date". Food Newsfeed. Retrieved 2018-03-27.
  10. ^ "Restaurant Chain First Watch Revamps Coffee Program with Single-Origin Focus". Daily Coffee News by Roast Magazine. 2018-01-11. Retrieved 2018-03-27.
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