Franchising

Savory adds The Crack Shack to portfolio

Provided

September 22, 2020

Savory has invested in Southern California's The Crack Shack, marking Savory's first investment since the close of its inaugural $90 million fund, according to a company press release. The financial details were not released.

With a strong heritage in fine dining, Michael Rosen, founder of Juniper and Ivy, along with former Top Chef winner Richard Blais, created The Crack Shack and its chicken-focused menu. From its beginnings in a shack behind Juniper and Ivy, the brand has grown to six locations in San Diego, Los Angeles and Las Vegas.

"The Crack Shack is one of the most intriguing brands to come out of the fast-casual mold, and truly brings together delicious and forward-thinking food in a family-friendly environment that you want to return to again and again," Andrew K. Smith, managing director of Savory, said in the release.

Savory has created more than a private equity fund, with not only access to capital but decades of combined experience, an understanding of the restaurant industry and the knowledge to grow a brand sustainably and effectively, said Michael Rosen, founder and CEO of The Crack Shack.

"We couldn't be more excited to partner with Savory to bring our deliciously reimagined comfort food and fine dining flair to more people in more places," he said in the release.

Savory's portfolio includes Mo'Bettahs, R&R BBQ and Swig.

RA Capital Advisors acted as exclusive financial adviser to The Crack Shack in the transaction.