Savory fund adds 6,100 employees in 2022, projects 11,000 additional jobs in 2023
LEHI, UT— Savory Fund, an innovative private equity firm that invests in emerging restaurant concepts, is adding thousands of jobs and boosting communities across the country. In 2022, Savory hired more than 6,100 employees across its 10 brands, as well as more than 50 employees at the corporate level. For 2023, projections show Savory will hire an astounding 11,000 employees, including more than 100 corporate positions across its portfolio.
This exciting, explosive growth has been elevated by its award-winning environment. Savory has been recognized with three Comparably awards for 2022: Best Company Culture, Best CEO, and Best Company for Women. The Comparably awards are ranked based on millions of anonymous employee sentiment ratings from over 70,000 companies across the country.
“We are honored to receive such high honors from Comparably and are grateful to our employees for their hard work, hustle, and heart,” says Brandon Batt, Director of People Operations for Savory Fund. “It’s been incredible to watch Savory contribute to economies nationwide. We invest in people first — always. And we are intrinsically motivated by the job security, opportunities, and career development we can offer to help our team members thrive.”
The unprecedented growth is especially notable in today’s uncertain economy where there have been mass layoffs and a looming recession. In addition to employee growth, Savory ended 2022 with promising and powerful partnerships. It acquired The Sicilian Butcher from famed concept king Joey Maggiore in October. And in November, Utah icon The Larry H. Miller Company acquired the majority ownership of Swig, with Savory Fund retaining a significant minority stake.
“I’m humbled to lead and work alongside our team and am grateful for the recognition,” says Shauna Smith, who was named one of Comparably’s Best CEOs. “We strive to create a culture where people feel valued and empowered, and to watch that energy only enhance as we expand has been a truly proud moment. Savory’s momentum and success are just getting started, and I’m inspired by our collective force and our future.”
About Savory Fund
Savory Fund is an innovative private equity firm that combines over $700 million in assets under management with a growth playbook and expertise that has been developed over 15 years of operating in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands, to deliver financial capital, industry expertise, growth and revenue opportunities, profitability enhancements and new location development. The Savory team contributes directly to all aspects of growth and replication by using a proven playbook and methodology. Founder involvement in the expansion of a brand is a central theme of the Savory approach as founders carry the tribal knowledge around the uniqueness that has energized early success and is essential to future growth. The Savory Fund has invested in 10 brands: Swig, R&R BBQ, Pincho, Via 313 Pizzeria, The Crack Shack, Mo’ Bettahs Hawaiian Style Food, 86 Repairs, Saigon Hustle, Hash Kitchen, and The Sicilian Butcher. For more information, visit savory.mercatopartners.com.