San Antonio-based mobile kitchen fabricator Cruising Kitchens has partnered with an Austin-based banking platform to create $100 million in financing and customized insurance for its customers.
Led by San Antonio-based entrepreneur Cameron Davies, Cruising Kitchens is a leading fabricator of mobile kitchens. Its clients include high-profile companies such as Whataburger, Karbach Brewing and Rockstar Energy. Last year, the firm purchased an entire city block at 314 Nolan St., which includes a 100,000-square-foot warehouse and parking lot.
According to a press release from the company’s new partner, Austin-based Ghost Financial, their relationship will allow major national quick-service restaurants to expand into new markets and boost off-premise sales via financing options that hadn’t necessarily been available to them.
Mobile kitchens and so-called “ghost kitchens,” which prepare food but offer no dining room, experienced an uptick during the pandemic, thanks to their lower capital investment compared to brick-and-mortar restaurant.
“Consistency, accuracy and speed are the critical components that make us the leaders in ghost kitchen/mobile fabrication,” Cruising Kitchens’ Davies said in a statement. “Partnering with Ghost Financial … will accelerate our operations and transform Cruising Kitchens into a titan in this space. This next wave of innovation is coming to the food/beverage industry and thanks to this new relationship, Cruising Kitchens will continue to lead the charge.”
For its part, Ghost Financial pledged to continue expanding the loan component of the deal, according to company officials.
“Today, two industry-leading business models in the multi-trillion-dollar food service space finally get married with the 9-figure and multi-year Cruising Kitchens and Ghost Financial partnership,” Ghost Financial CEO John Meyer said in a statement. “We couldn’t be more excited for the size, scale and impact of what’s to come.”
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This article appears in Jun 29 – Jul 12, 2022.
