Oprah is taking her Midas touch to another venture, the restaurant business. Nathan Rousseau Smith has the story.
Billionaire Oprah Winfrey is putting her money where her mouth is, investing in a health-driven restaurant chain that tries to put better-for-you options at busy Americans’ fingertips.
Winfrey is taking a stake in True Food Kitchen, with her investment slated to help it expand across the U.S. The brand plans to double its store count to about 46 in the next three years with a focus on the East Coast, including New York, New Jersey and North Carolina.
“It’s incredibly significant to us as a company to have her,” Christine Barone, chief executive officer of True Food Kitchen, said in an interview. Winfrey also is joining the board of directors and will be helping with company strategy, she said.
Centerbridge Partners, which also owns P.F. Chang’s, will remain the majority shareholder of Phoenix-based True Food Kitchen. The company declined to say how much Winfrey is investing, beyond the amount being significant.