Over the next decade, Shake Shack opened new locations and continued to grow in popularity. Meyer and Garutti decided that the best way to access the capital needed for its expansion strategy was to take the company public.
Barclays was one of the banks that handled the initial public offering (IPO). Marco Valla, Barclays Co-Head of Consumer Retail Banking, and his team helped craft the story for investors, articulating how Shake Shack is disrupting the food and beverage industry and offering exactly the kind of value and experience that customers are looking for.
The company went public in January 2015, raising $120 million in the IPO. As of 2016, Shake Shack has 84 locations around the world, including London, Tokyo, Istanbul, Dubai and Moscow with plans to expand to Los Angeles, Phoenix, and beyond.