SBE AND C3 FOUNDER SAM NAZARIAN ACQUIRES KITCHEN UNITED'S IP & GHOST KITCHEN RELATED ASSETS AND ANNOUNCES THE NEW HOLDING COMPANY EVERYBODY EATS, A PREMIUM QSR AND CPG BRAND COMPANY COMPRISED OF C3, NEXTBITE AND KITCHEN UNITED

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Mar 14, 2024, 08:15 ET

The acquisition of Kitchen United's IP & Assets and Nextbite, paves way for C3's expansion into Everybody Eats, the largest brand IP company in the virtual culinary space designed for amplification and connectivity in an industry looking for new solutions

Everybody Eats aims to disrupt the trillion dollar industry by building and scaling their premium QSR and CPG brands through their various different platforms in order to connect with the most sought-after audiences such as Millennials, Gen-Z and LatinX communities

Everybody Eats announcement follows sbe's high-profile initiatives including the company's equity partnership with global music icon, Marc Anthony and his company Magnus as well as the partnership with world-renowned actress Sofia Vergara and her son, Manolo Vergara to launch innovated LatinX culinary brand, TOMA

Nazarian appoints Geoff Madding as new COO of Everybody Eats to oversee seamless transition of investment and continued growth of the growing platform

MIAMI , March 14, 2024 /PRNewswire/ -- Sam Nazarian, CEO and Founder of sbe and Everybody Eats, announces today the acquisition of certain assets related to IP and ghost kitchens of Kitchen United, the virtual commissary operator that traditionally combined elements of delivery technology, real estate, and virtual restaurant brands in its operations model. Coupled with the acquisition of Nextbite in 2023 and Nazarian's C3–which has been simultaneously, systematically and broadly bringing together technology, underutilized retail, hotel and kitchen spaces and world-class culinary talent to disrupt the food & beverage industry by capitalizing on rapidly evolving customer preferences since 2019-Nazarian announces the new holding company and entity, Everybody Eats.

INTRODUCING EVERYBODY EATS

Everybody Eats is a CPG and culinary brands company connecting new audiences through food brands in exclusive arrangements. Everybody Eats aims to disrupt the trillion dollar industry by bringing the best ideas and people together to build and scale their premium QSR and CPG brands through their various different platforms in order to connect with new audiences and most sought-after communities such as Millennials and Gen-Z. This announcement marks an unbelievable turning point for the industry.

Since December 23, 2023, Everybody Eats is a 100% asset light IP and premium QSR and CPG Brand company that has secured an equity investment by strategic international platforms such as Legends, and most recently new investments from Alamar Saudi Arabia & Grupo Herdez who join Everybody Eats' roster of world class strategic investors.

Everybody Eats will continue being a leader in the virtual restaurant space by expanding physical footprints and utilizing AI software technology to increase revenue while also introducing chef-driven concepts; brands created and powered by celebrities; and high-quality restaurants and brands to the masses. Everybody Eats has over one billion subscribers within their network of food brands and will expand to various different industries, including: CPG, supermarkets, convenience, casual dining, education, hospitality, limited service hotels all within a brand amplification platform.

NEW EVERYBODY EATS LEADERSHIP

Under Nazarian's leadership, as well as Geoff Madding's, the newly appointed COO of Everybody Eats, (former Nextbite Chief Growth Officer), the new platform will continue to disrupt the food & beverage industry by expanding their capacity to bring together technology, underutilized retail, hotel and kitchen spaces and world-class culinary talent, through the Kitchen United acquisition. With the acquisition of Kitchen United, Nazarian further establishes his position as the unrivaled leader in the encompassing digital-and-actualized restaurant landscape with an unwavering dedication to revolutionizing the industry at-large.

EXECUTIVE QUOTES

Sam Nazarian, Founder and CEO, Everybody Eats & sbe stated, "I cannot begin to describe the excitement I have in announcing Everybody Eats- our new company built upon C3 and the acquisitions of Kitchen United assets and Nextbite. Since starting C3 in 2019, I have been watching other industry leaders such as Nextbite and Kitchen United in their journeys to change the virtual culinary industry. These companies have had incredible ideas and unbelievable instincts but just not enough capital to ultimately disrupt the market. Everybody Eats is the solution; we have created an all-encompassing platform built upon the ideas of the three best thought-leaders in the industry. This is an unbelievable turning point for the industry as I believe the connectivity of a new audience through food is one of the most exciting parts of what we do at Everybody Eats, and we look forward to continuing to change the future of food-tech under the dynamic leadership of Geoff Madding, our new COO."

Chief Operating Officer Geoff Madding stated, "I am incredibly excited to join the Everybody Eats team, continuing the journey I began during my time at Nextbite, to disrupt, innovate, and ultimately, help evolve the culinary industry. With Sam Nazarian's vision and our team's dedication, I have no doubt that we will leverage the amazing work done by C3, Kitchen United, Nextbite over the past several years to create the leading company in the disruptive culinary space."

KITCHEN UNITED

Since its founding in 2017, Kitchen United became a formidable player in the culinary tech space, becoming a ghost kitchen commissary operator that traditionally combined elements of delivery technology, real estate, and virtual restaurant brands in its operations model. With the sale of ghost kitchen assets to C3, Kitchen United will seek to pivot to a software business.

OWNING THE INDUSTRY

This announcement comes on the heels of C3's acquisition of NextBite, a leading global lifestyle platform known for establishing and building food delivery concepts, in 2023 to create Nextbite by sbe - an independently operated subsidiary of the renowned hospitality company that will revolutionize the restaurant industry pipeline. sbe took over 20 established and notable brands including popular, licensed entities such as Fuku, Packed Bowls by Wiz Khalifa, Nestle Toll House Cookies, Super Mega Dilla, Thrilled Cheese and Nathan's Famous; as well as the former company's fulfillment partners.

This announcement also is amongst other newly-announced, high-profile initiatives including sbe's recently-announced equity partnership with global music icon, Marc Anthony and his company Magnus as well as the partnership with world-renowned actress Sofia Vergara and her son, Manolo Vergara to launch innovated LatinX culinary brand, TOMA, a concept that masterfully harmonizes flavors and elements from Latin America and plans of becoming a disruptor in the LatinX Consumer Packaged Goods category. These two partnerships aim to show sbe and Everybody Eats commitment to expanding and connecting food and hospitality with the Hispanic community.

About Everybody Eats

Founded and led by visionary Sam Nazarian in 2024, Everybody Eats is a CPG and culinary brands company connecting new audiences through food brands in exclusive arrangements. Comprised of virtual culinary companies such as C3, Kitchen United and Nextbite, Everybody Eats aims to disrupt the trillion dollar industry by bringing the best ideas and people together to build and scale their premium QSR and CPG brands through their various different platforms in order to connect with new audiences. Everybody Eats is simultaneously, systematically and broadly bringing together technology, underutilized retail, hotel and kitchen spaces and world-class culinary talent. Everybody Eats brands co-exist to disrupt the food & beverage industry by capitalizing on rapidly evolving customer preferences through use of technology, AI, use of retail space and the expansion into CPG, supermarkets, convenience, casual dining, education, hospitality, limited service hotels all within the brand amplification platform. To learn more, visit EverybodyEatsbysbe.com.

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Media Contact: Nina Kempner, [email protected]

SOURCE sbe