Investment firm FG Financial Group announced Thursday that it’s partnering with former Jimmy John’s CEO Gregg Majewski to create a new platform of “highly scalable” fast casuals, with the potential of more acquisitions. 

The group, called Craveworthy, comprises existing restaurants Wing It On!, Krafted Burger + Tap, and The Budlong Hot Chicken, and new concept, The Lucky Cat Poke Company. The combined platform features six company-owned stores and 13 franchised outlets, with another 18 franchises under development. The Lucky Cat will open its first brick-and-mortar later this year, in addition to roughly 50 ghost kitchens. 

Wing It On! is the biggest restaurant, with 12 open locations. In 2022, the brand’s unit count grew 70 percent year-over-year, including franchise expansion into Long Island, Dallas-Fort Worth, and Orlando. The wing chain is based in Raleigh, North Carolina, while Krafted Burger + Tap and The Budlong Hot Chicken are solely in the Greater Chicago market. 

Majewski will serve as CEO of Craveworthy. He previously worked as Jimmy John’s CEO, CFO, and COO from 1998 to 2003 where he expanded the chain from 33 to 300 restaurants, sold 600 franchises, and boosted gross margins by 7.4 percent in two years. The industry veteran was responsible for introducing new incentive, training, and franchise programs and implementing Jimmy John’s “Freak Fast” delivery marketing strategy. Since June 2021, he’s also served as CEO of Mongolian Concepts Restaurant Group, the parent of Genghis Grill, FlatTop Grill, and BD’s Mongolian Grill. 

Majewski said Craveworthy is currently “cultivating potential acquisition opportunities” to help build the platform. 

“I’m excited to launch Craveworthy in partnership and with support from the team at FG Financial,” Majewski said in a statement. “Each of our current brands is primed for significant growth, both through additional franchise locations and through Craveworthy-owned locations.”

Craveworthy is the second project under FG Financial Group’s merchant banking division, which was first announced in September. The new entity intends to organize and sponsor “fundamentally strong businesses and creating new structures across multiple industries and stages of growth.”

“I’ve known Gregg for several years and I’m excited to be partnering with him on Craveworthy,” FG Financial Group CEO Larry Swets said in a statement. “He’s a great operator whose had significant success in his career. We believe he can bring that success to Craveworthy. The formation of Craveworthy is further evidence of the capabilities of our Merchant Banking team. We look forward to growing Craveworthy into a leading restaurant brand platform.” read moreEmployee ManagementFast CasualWing It On!