By Colette Jones
- True Food Kitchen expects their business to double by 2021
- Oprah’s 2015 $43.5M investment in Weight Watchers is now worth $400M
Media mogul Oprah Winfrey recently announced her investment of an undisclosed amount into the Phoenix-based chain restaurant, True Food Kitchen. The popular eatery is now being operated by former Starbucks (SBUX -1.32%) executive, Christine Barone. Will this be as lucrative as her Weight Watchers (WTW -1.39%) investment?
Why This Matters: In 2015, Winfrey bought an estimated 10% stake, over six million shares, in weight loss company Weight Watchers. Her investment helped raise their shares more than 1,000%, according to CNBC. After selling some of her stock in March of this year, she still owns around eight percent of the company.
Now she’s turned her attention to True Food Kitchen which hopes to capitalize on Winfrey’s prior success in the food business. “When I first dined at True Food Kitchen, I was so impressed with the team’s passion for healthy eating and, of course, the delicious food, that I knew I wanted to be part of the company’s future,” Winfrey said in a press release.
Based on the outstanding return Weight Watchers received from her investment, True Food Kitchen expects their business to double by 2021. Barone wants to utilize Winfrey’s insights and collaborate with her to help build the business. This is different than Weight Watchers approach of only assigning her the role of a spokesperson.
“Her involvement is really key to growth and success as we move forward, and we're excited for her to be on board...She'll really be providing insight as an incredibly successful business woman,” Barone said.
What’s Next: All 23 locations of the restaurant offer a variety of healthy, organic items on their menus, including several vegan and vegetarian options. True Food Kitchen currently has locations in 10 states, so be on the lookout for a location to pop up near you as they expand into new markets.
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