Savory Fund Adds 6,100 Employees in 2022, Projects 11,000 Additional Jobs in 2023

Savory Fund’s Remarkable Workforce Expansion in 2022

In 2022, Savory Fund achieved unprecedented growth by hiring more than 6,100 employees across its 10 diverse restaurant brands. This workforce expansion included over 50 corporate-level positions, highlighting the company’s commitment to building a strong foundation both at the operational and strategic levels. The hiring spree reflects Savory Fund’s robust business model and its confidence amid economic uncertainty.

The increase in employment opportunities not only supports the company’s rapid growth but also contributes significantly to local economies. By investing heavily in people, Savory Fund has become a vital source of job creation in communities nationwide, providing stability and career development in industries often vulnerable to market fluctuations.

This expansion is a testament to Savory Fund’s strategic approach to scaling emerging restaurant concepts. By focusing on profitable, high-potential brands, the firm ensures sustainable growth that benefits employees, customers, and investors alike.

Projecting Continued Growth: Hiring 11,000 Employees in 2023

Looking ahead to 2023, Savory Fund projects an astounding addition of 11,000 new jobs, more than doubling its 2022 hiring figures. This ambitious forecast underscores the firm’s confidence in its portfolio and the resilience of the restaurant industry despite broader economic challenges.

The projected hiring includes over 100 corporate positions, reflecting the company’s ongoing investment in leadership, innovation, and operational excellence. These roles will support the management and scaling of Savory’s expanding brand portfolio, ensuring quality and consistency across all locations.

Such growth projections are rare in today’s economic climate, where many companies are downsizing. Savory Fund’s ability to forecast and plan for significant workforce expansion demonstrates its unique position as a growth-focused private equity firm dedicated to long-term success.

Award-Winning Culture Driving Employee Engagement

Savory Fund’s rapid growth is supported by its celebrated company culture, which earned the firm three prestigious Comparably Awards in 2022: Best Company Culture, Best CEO, and Best Company for Women. These awards are based on millions of anonymous employee ratings, highlighting the firm’s commitment to creating an inclusive and empowering workplace.

Director of People Operations Brandon Batt emphasizes that Savory Fund’s success stems from investing in people first. The company prioritizes job security, career development, and a supportive environment where employees can thrive. This approach has fostered high morale and strong employee engagement across all levels of the organization.

The recognition as a top workplace for women also reflects Savory Fund’s dedication to diversity and inclusion. By nurturing a culture where all employees feel valued and respected, the firm enhances innovation and drives superior business outcomes.

Strategic Acquisitions Bolstering Brand Portfolio

In addition to organic growth, Savory Fund has strengthened its portfolio through key strategic acquisitions. In October 2022, the firm acquired The Sicilian Butcher, a renowned concept developed by acclaimed restaurateur Joey Maggiore. This acquisition expanded Savory’s footprint in the premium sandwich and butcher market segment.

Furthermore, in November 2022, Utah’s iconic Larry H. Miller Company acquired majority ownership of Swig, one of Savory Fund’s flagship brands, while Savory retained a significant minority stake. This partnership signals confidence in the brand’s continued growth and market potential.

These strategic moves demonstrate Savory Fund’s ability to identify and nurture promising concepts while leveraging partnerships to accelerate expansion. The acquisitions complement the firm’s focus on profitable, scalable restaurant brands that align with its growth playbook.

Savory Fund’s Growth Playbook and Founder Involvement

A key differentiator for Savory Fund is its hands-on growth playbook developed over 15 years of industry experience. The firm combines financial capital with operational expertise to support emerging restaurant brands in scaling efficiently and profitably.

Founder involvement is central to Savory’s approach. The firm collaborates closely with brand founders to preserve the unique elements that fueled early success while applying proven methodologies to replicate and expand the business model. This tribal knowledge is critical to maintaining authenticity and customer loyalty during growth phases.

Savory Fund’s comprehensive support includes revenue enhancement strategies, new location development, and profitability improvements. This holistic approach ensures that brands under its management are positioned for sustainable long-term success in competitive markets.

Impact on Communities and the Restaurant Industry

Beyond corporate growth, Savory Fund’s expansion has a profound impact on communities nationwide. By creating thousands of jobs, the firm provides economic stability and opportunities in regions where employment can be volatile. Many of these positions offer career pathways in the hospitality sector, a vital industry for local economies.

The firm’s commitment to fostering inclusive workplaces also contributes to positive social outcomes. By championing diversity and equitable hiring practices, Savory Fund helps build stronger, more resilient communities where all individuals can succeed.

Moreover, Savory Fund’s support for innovative restaurant concepts encourages culinary diversity and entrepreneurship. These brands enrich local food scenes and provide consumers with unique dining experiences, further stimulating economic activity.

Leadership and Vision Under CEO Shauna Smith

At the helm of Savory Fund is CEO Shauna Smith, whose leadership has been instrumental in driving the firm’s rapid growth and positive culture. Named one of Comparably’s Best CEOs, Smith is known for her people-centric approach and strategic vision.

Smith emphasizes creating an environment where employees feel empowered and valued. Her leadership style fosters collaboration and innovation, which has translated into strong business performance and high employee satisfaction.

Under Smith’s guidance, Savory Fund continues to expand its portfolio and workforce, positioning the firm as a leader in the private equity space for emerging restaurant concepts. Her commitment to sustainable growth and community impact inspires the entire organization.

Looking Ahead: Savory Fund’s Future Growth and Opportunities

With over $700 million in assets under management and a proven growth playbook, Savory Fund is well-positioned for continued expansion. The firm’s plans to add 11,000 employees in 2023 reflect its confidence in the restaurant industry’s recovery and long-term potential.

Savory Fund remains focused on partnering with high-potential brands that align with its values and growth strategy. By leveraging operational expertise and founder collaboration, the firm aims to replicate success across new markets and concepts.

As the company grows, it will continue to prioritize its award-winning culture and community impact, ensuring that its expansion benefits not only shareholders but also employees, customers, and local economies.

Conclusion

Savory Fund’s remarkable growth trajectory amidst economic uncertainty highlights its unique blend of strategic vision, operational expertise, and people-first culture. By adding thousands of employees and expanding its portfolio of innovative restaurant brands, the firm not only drives financial success but also contributes meaningfully to communities across the country. With an award-winning workplace environment and strong leadership under CEO Shauna Smith, Savory Fund is poised to continue its upward momentum, creating opportunities and shaping the future of the restaurant industry for years to come.