The Greene Turtle, now part of ITA Group Holdings (ITA), has closed a 6 million dollar equity raise led by TABLE Management. The proceeds will be used to continue executing ITA’s growth plan, including additional sportsbooks, franchise sales and new Clark Crew BBQ locations. The Greene Turtle brand has seen rapid growth post-pandemic, building six new restaurants, including two state-of-the-art sportsbooks. Parent company ITA was formed in June as part of a merger with Clark Crew BBQ. ITA also launched the Founder Growth Platform focused on partnering with founders of small-footprint fast-casual concepts.
“What got us excited about making the investment in ITA are the multiple growth drivers the business has. The roll out of two sportsbooks in the span of one month, the strong unit economics for the latest vintage Turtles and ability to expand its franchise footprint coupled with new Clark Crew locations puts the business on a great trajectory for years to come. I’ve known Geo for 13 years and saw the turnaround he was able to execute at Famous Dave’s BBQ. He has an insatiable desire to win, and that’s the kind of CEO we like to back” said Jason Pinsky of TABLE Management, the Ackman family office.
“TABLE is unmatched in its expertise and track record in the restaurant space, so it’s exciting to have them involved,” said Geo Concepcion, CEO of ITA Holdings. “The support and strategic insight of TABLE Management is invaluable as we navigate our rapid growth phase.”
ITA’s Greene Turtle opened its second sports book in Towson, Maryland, nestled at 319 York Road on Sept. 29. The location is the largest restaurant in the chain, with over 15,000 square feet. This location brings an unbeatable sports viewing experience, with two expansive floors equipped with a top-notch TV package that ensures a front-row seat for every game. The betPARX sportsbook, where guests can use state-of-the-art kiosks or a live teller window, is located on the second level along with an outdoor patio that boasts lush grass turf and plenty of screens to stay in the heart of the action for every game.
For more information on The Greene Turtle, visit thegreeneturtle.com.
The Greene Turtle: Eat Plenty. Drink Well. Leave Happy.
About The Greene Turtle
Founded in 1976 in Ocean City, Maryland, The Greene Turtle has become the local community hangout for all ages, serving great food and drinks in a fun, casual atmosphere built on the excitement and unity of sports. The brand’s high level of customer service, culinary menu and locally sourced beers ensure that The Greene Turtle remains near and dear to customers’ hearts. With a flair reflective of its Maryland origins, The Greene Turtle’s food is not your typical “sports bar” fare. The extensive menu features bowls, tacos, crab cakes, desserts and more. For more information, please visit thegreeneturtle.com and follow The Greene Turtle on Facebook, Instagram and Twitter.
