Strategic investor Savory Fund is taking a multi-million-dollar stake in elevated brunch concept Hash Kitchen.
The Scottsdale, Ariz.-based chain, whose name evokes both the popular breakfast dish and the hashtags of Instagram, serves high-quality brunch items and boozy beverages including a signature build-your-own Bloody Mary bar. Its restaurants have a social atmosphere, with large, open dining rooms and live DJs on weekends.
Hash was founded in 2015 by celebrity chef Joey Maggiore and currently has five restaurants in Arizona. Hash will partner with Savory to open 25 additional locations in new markets over the next four years, focusing on Denver, Dallas, Houston, San Antonio and Salt Lake City.
"We believe that by combining our talents and resources, we can make Hash Kitchen the breakfast/brunch category’s dominant player west of the Mississippi," said Savory Managing Partner Andrew Smith in a statement.
The exact amount of the investment was not disclosed.
The $200 million Savory Fund is an offshoot of Utah-based private-equity firm Mercato Partners. It was created in June 2020 to help grow emerging restaurant concepts using a combination of capital and the expertise of more than 50 industry veterans. Past investments include Crack Shack, Via 313 Pizzeria and Pincho.
With this investment, it ventures into the booming breakfast-and-lunch segment that includes chains like First Watch and Snooze A.M. Eatery. Those chains have had success offering creative menus and a fun vibe while also finding labor efficiencies with their daytime-only hours. First Watch went public in September.
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