By Lee Brodie | Producer
Smashburger CEO: We’re stealing share from McDonald’s
Privately held “fast casual better burger” chain Smashburger is growing rapidly. Its CEO Dave Prokupek says his business is “the fastest growing company in the restaurant space” he knows of.
In an effort to make more money in the stock market, Cramer says it’s necessary to talk with all kinds of companies – even those that are not publicly traded?
“If you’re going to get your head around the most cutting edge trends, you sometimes need to go off the tape and listen to what’s happening at important, privately-held companies,” Cramer explained.
And the Mad Money host thinksSmashburger is one of those companies. People love their food.
The fast casual better burger chain with more than 220 locations in 29 states and four foreign countries is growing by leaps and bounds with lines sometimes out the door.
“The growth that we experienced in 2012 has continued into 2013 as we see a growing demand for a premium dining experience that emphasizes fresh ingredients and innovative recipes,” commented Dave Prokupek, chairman and CEO of Smashburger.
The company has posted a whopping 3 year sales growth of 254%.
“This company is all about making healthier hamburgers,” Cramer explained. “Smashburger is at the forefront of better eating.”
And their blockbuster success would seem to confirm a trend that Cramer has advocated for quite some time. That is, people are seeking out higher quality foods and they’re willing to pay a little more for them.