Operations

Savory invests in Asian street food concept

Photo: Savory

June 12, 2025

Savory Fund, which has helped scale restaurant brands including Swig and Mo' Bettahs, is hoping to do the same for Hawkers, an Asian street food concept founded by four childhood friends in 2011 in Orlanda. It has since grown to 15 locations across the Southeast and Texas, offering authentic street food inspired by Asian hawker stalls.

"I've been watching Hawkers for years. The food, the energy, the following — it's magnetic," Andrew K. Smith, co-founder and managing director of Savory Fund, said in a company press release. "The team, the guest loyalty, the cultural connection — it's the kind of brand you don't just scale, you rally behind."

Hawkers boasts average unit volumes of $4.6 million and a 4.8-star guest satisfaction score. Over 50% of its dine-in traffic comes from customers who visit five or more times annually, said Hawkers co-Founder and CEO Kaleb Harrell. "Savory understands what makes Hawkers special — the heart, the hustle, and the hunger — and together I know we are headed for something legendary."

The upcoming expansion will focus on strengthening Hawkers' presence in existing high-performing markets, including Orlando, Washington D.C., Atlanta, Dallas, Charlotte and Nashville.

Hawkers is the third investment in Savory Fund III's portfolio, following acai and smoothie concept South Block and Bonrue Bakery.

Terms of the transaction were not disclosed.

Hawkers voluntarily withdrew from Chapter 11 bankruptcy protection in February 2025, after filing in September 2024 and reaching a consensual loan restructure with its prior lender.