Operations

Savory Fund invests in expanding Pincho concept

Photo: iStock

September 10, 2021

Savory Fund, an investment entity focused on delivering outsized returns through strategic investments in the food and beverage industry, has invested in the burger and kebab concept Pincho, a Miami-based fast casual chain, according to a press release.

Pincho is the latest chain to attract growth capital from Mercato Partners' $200 million Savory Fund, which was created to back promising emerging restaurant concepts.

Founded in 2010 by serial entrepreneur Otto Othman, Pincho's Latin-inspired menu features burgers, kebabs, salads, bowls and more. Its experiential and bold flavors offer unique twists on familiar foods that consumers are already familiar with.

"We know that consumers are craving unique flavors and international experiences, and they're increasingly looking for restaurants to transport them to their favorite destinations," Andrew K. Smith, managing partner and co-founder of the Savory Fund, said in the release. "That's why we decided to invest in Pincho. Its international, award-winning menu, differentiated branding and strong leadership team led by Otto are exactly what we look for in concepts poised for rapid growth."

Going forward, Othman will remain as CEO and will be joined on Pincho's Board of Directors by Savory Fund executives Shauna Smith, Alonso Casteneda and Taylor DeHart.

Pincho operates eight retail locations across South Florida and licenses two additional locations at Florida International University and LoanDepot Park, home of the Miami Marlins. Savory's investment will be used to prepare for expansion across a multi-state region, including additional growth in southern and central Florida and Texas.

"Since I first met the team at Savory more than two years ago, they have consistently demonstrated a unique ability to build brands like Pincho, unlocking additional enterprise value through their high level of execution and acceleration of scale," Othman said. "We're thrilled to partner with Savory and its outstanding leadership team as we embark on what is sure to be an exciting ride. We have always believed that Pincho is a concept that can and should expand from coast-to-coast, and I can't wait to make our vision a reality."

The Savory Fund, managed by Smith and Greg Warnock of Mercato Partners, teams with high-potential, profitable, emerging restaurant brands to deliver financial capital, industry expertise, revenue opportunities, profitability enhancements and new location development.