The Habit Burger Grill

Habit Restaurants Inc.
Public
Traded as NASDAQ: HABT
Founded Santa Barbara, California, November 15, 1969
Headquarters Irvine, California
Number of locations
 147[1]
Area served
 Arizona
California
Florida
Idaho
Maryland
Nevada
New Jersey
Utah
Virginia
Washington
Rhode Island
Key people
 Russel Bendel (CEO)
Ira Fils (CFO)
Website www.habitburger.com

The Habit Burger Grill, commonly referred to as The Habit, is an American fast casual restaurant chain focused on hamburgers, salads, sandwiches, shakes, and french fries. Its headquarters is in Irvine, California.[2] The first Habit Burger Grill restaurant opened in November 1969 in Santa Barbara, California. Between 1969 and 2007, the chain slowly expanded around the Los Angeles metropolitan area to 23 restaurants.

In 2007, a private equity firm, KarpReilly, purchased a majority stake in the company, and the chain rapidly expanded. By 2014, it had 109 locations either open for business or under construction. The company is one of the fastest-growing fast food chains in the United States, with a 40% sales increase from 2012 to 2013.[3]

History

The Habit Burger Grill was founded in November 15, 1969 in Goleta, California as a family-owned business.[4] In 2007, it was purchased by KarpReilly, a private equity firm that began to rapidly expand the chain, including franchising. Multiple newspapers reported in 2013 that Habit Burger LLC, the parent company to the chain, was planning an IPO.[5][6][7] On November 19, 2014 the company raised $83.7 million in an initial public offering (IPO).[8]

The Habit offers items such as hamburgers, salads, sandwiches, shakes, and french fries. Their most popular item is their signature hamburger called the "Charburger", containing a fresh ground beef patty with "mayonnaise, pickle, fresh tomato, lettuce and caramelized onions on a toasted bun."[9][10] The Habit also offers variants of the Charburger containing ingredients such as pineapple, mushrooms, and avocado.[11]

Locations

The Habit Burger Grill currently has at least 147 restaurants established or near completion. The majority of their locations are in California but they also have locations in other Southwestern states and along the East Coast. They plan to open multiple locations in places such as Las Vegas and Seattle. In early 2015, they announced plans begin construction in Northern Virginia.[12][13]

Reception

In mid-2014, The Habit's Charburger was named the best burger in America by Consumer Reports, scoring an 8.1 out of 10 among 53,745 participants.[15][16][17]

References

  1. ↑ "Habit Burger Locations", Habit Burger & Grill. Retrieved August 28, 2014.
  2. ↑ "Contact us", Habit Burger & Grill. Retrieved August 28, 2014.
  3. ↑ "Irvine Burger Chain Reportedly Mulls IPO", Orange County Business Journal. Retrieved August 28, 2014.
  4. ↑ "About us", The Habit Burger Grill. Retrieved August 28, 2014.
  5. ↑ "Habit Restaurants Planning Possible IPO", The Wall Street Journal. Retrieved August 28, 2014.
  6. ↑ "IPO may be on the menu for rapidly growing Habit Burger", Orange County Register. Retrieved August 28, 2014.
  7. ↑ "Restaurant Finance Watch: Habit Burger mulls IPO", National Restaurant News. Retrieved August 28, 2014.
  8. ↑ "SEC Form 424B4, 333-199394, filed 11/21/2014", IPO Prospectus.
  9. ↑ "The Habit Burger Grill Menu" The Habit Burger Grill. Retrieved August 28, 2014.
  10. ↑ "Chef Adam Baird: The Habit Burger Grill", Fox Los Angeles. Retrieved August 28, 2014.
  11. ↑ "The Habit Burger Grill Menu"
  12. ↑ "Habit Burger moves toward national expansion", Nation's Restaurant News. Retrieved August 28, 2014.
  13. ↑ "America’s ‘best burger’ coming to Seattle", Seattle Post-Intelligencer. Retrieved August 28, 2014.
  14. ↑ "West Coast's Habit Burger Grill now in NJ", Fox New York. Retrieved August 28, 2014.
  15. ↑ "The Country's Best Burger Comes From A Chain You've Probably Never Heard Of", Huffington Post. Retrieved August 28, 2014.
  16. ↑ "A Burger Chain You've Probably Never Heard Of Was Just Named Best In America", Business Insider. Retrieved August 28, 2014.
  17. ↑ "Best and worst fast-food restaurants in America", Consumer Reports. Retrieved August 28, 2014.
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