Savory Fund Makes Investment in Hash Kitchen, Innovative Phoenix-Based Brunch Concept

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Savory Fund Makes Investment in Hash Kitchen, Innovative Phoenix-Based Brunch Concept
Savory Fund Makes Investment in Hash Kitchen, Innovative Phoenix-Based Brunch Concept

Andrew K. Smith, Managing Partner and Co-Founder of the Savory Fund, with Joey & Cristina Maggiore and Flora and Tony Tersigni – the founders of Hash Kitchen. Savory Builds Upscale, Eventful Restaurant Concept to Leader in Brunch Category in Western United States Scottsdale, AZ (RestaurantNews.com) Savory Fund announced today that it has invested in the popular Hash Kitchen brunch concept. Creatively designed around a social dining experience, the Scottsdale-based chain is the latest brand to attract growth capital from Mercato Partners’ $ 200 million Savory Restaurant Fund, which was founded to support promising new restaurant concepts . The Savory Fund has made $ 20 million available for this investment and will expand the concept in the western United States. The Hash Kitchen menu was founded in 2015 by celebrity chef Joey Maggiore, his wife Cristina and partner Flora Tersigni from The Maggiore Group and offers high-quality breakfast and brunch offers of the highest level. The curated menu put together by chefs is unmistakably paired with an Instagram-worthy dining atmosphere, which makes Hash Kitchen a focal point for locals and a culinary destination for visitors. “Hash Kitchen is uniquely addressing today’s consumer demand for dining experiences that consistently combine great food with upbeat music and a very eventful atmosphere,” said Andrew K. Smith, managing partner and co-founder of the Savory Fund. “We intend to empower the Hash Kitchen brand by bringing its strengths to Savory’s growable and scalable playbook, creating synergies and unlocking its inherent potential. The Maggiore Group is a force with exceptionally creative operators, and we believe that by combining our talents and resources, we can make Hash Kitchen the dominant player in the breakfast / brunch category west of the Mississippi. ”Have limited daypart concepts in the Gained popularity over the past decade. Hash Kitchen is fast becoming a leader in this category thanks to its unparalleled Bloody Mary bar experience and tasty home-style cooking, including signature products such as the Cannoli Pancakes, Billionaire Bacon, Banana Split Brioche French Toast, Short Rib Breakfast Burrito and Carnitas Hash . Plus the lively, communal atmosphere that sets it apart from the rest. Chef Joey and The Maggiore Group will continue to be involved in the development of the brand and will work with the Savory team to integrate its proven platform to unlock additional business value through high levels of execution and acceleration of scale. Maryam Chaney, Vice President Food & Beverage at Savory Management, Robert Gardner, principal investor in the transaction for the Savory Fund, and Andrew K. Smith, Managing Director, will join the Hash Kitchen Board of Directors with co-founders Joey Maggiore and Flora Tersigni from The Maggiore Group. “We are delighted that Savory has recognized the potential of Hash Kitchen and will work side by side with our team to bring our unique brand of social dining experiences to a wider audience,” said Chef Joey Maggiore. “We believe Savory is the perfect partner for us, and we can’t wait to implement their proven growth model as we go beyond our home base to profitably and aggressively expand our presence to neighboring states.” Hash Kitchen currently operates five locations in Arizona, two more are currently under development. Savory’s investments will be used to create the new partnership, uniting operations, and providing fuel and additional human capital for rapid expansion into new markets. 30 new locations are to be opened in the next four years. About The Savory Fund The Savory Fund, a $ 200 million F&B practice managed by Andrew K. Smith and Greg Warnock of Mercato Partners, is focused on generating above average returns through strategic investments in the food and beverage industry . Savory works with promising, profitable, emerging restaurant brands to provide financial capital, industry expertise, revenue opportunities, profitability improvements and new location development. The Savory team, along with its 70-strong experienced restaurant operations team, directly contribute to all aspects of growth and replication using a proven playbook and methodology. More information is available at www.savouryfund.com. About Hash Kitchen Breakfast classics are mixed and reinvented in the Hash Kitchen, a lively brunch with Instagram-compatible, creative daily specials and an extraordinary, interactive Bloody Mary bar, in which guests can create their cocktails from start to finish with homemade Bloody Mary Mixes, homemade spirits and over 50 craft toppings. The innovative concept combines cook-oriented food and an upscale cocktail program with a next-generation brunch-centric atmosphere, complete with social media-worthy wall art and rotating guest DJs and turntables on the weekends. To find out more, visit www.hashkitchen.com. Contact: Ladd BiroChampion Management972-930-9933lbiro@championmgt.com

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