Savory Fund supports smoothie, acai bowl concept South Block

Savory Fund has acquired a majority stake in South Block, a better-for-you concept. | Photo provided by: South Block

Lehi, Utah-based private equity firm Savory Fund announced Wednesday its 12th investment in an emerging restaurant chain, just months after backing the hot chicken chain.

This time, Savory’s funds went to South Block, a 15-unit Virginia-based concept that sells made-to-order smoothies, acai bowls, toasties and cold-pressed juices. Terms of the deal were not disclosed, but Savory’s investment will give the company a majority stake in the brand.

“From the moment I took a bite of that insanely delicious PBJ Acai Bowl, I instantly fell in love with South Block,” Savory Managing Partner and Co-Founder Andrew K. Smith said in a statement. Stated. “Their menu is healthy without being intimidating, their system is effective and sound, and their devoted fans are amazing.”

South Block, named after the location of the concept’s first store in Clarendon, Virginia, was founded in 2011 by Amir Mostafavi, who will remain CEO. This concept is currently being implemented in Virginia. Washington DC, Maryland.

“South Block was always built with people first,” Mostafavi said in a statement. “As we sought a partnership to accelerate our growth, we knew we couldn’t compromise on our core values. Savory is focused on our founder’s vision and dedication to our culture. It stood out because of the location.”

Furthermore, he added: “Our team has gelled very well from the start. I couldn’t be more excited about the jobs we’re going to create and the positive impact we’re going to cultivate in every block we join. there is no.”

In November, Savory Fund announced an investment in Houston Texas Hot Chicken, which has 11 stores in six states. Savory has previously funded growth chains such as Swig, Via 313, Hash Kitchen, Pincho and Mo’Bettahs.

The injection of capital into South Block is the first from the new Savory Fund III, a $200 million fund “focused on the strategic growth of new restaurant concepts,” Savory said. . The company said it currently manages more than $750 million in assets overall.

“I’ve met with hundreds of brands over the years, and when deciding which concepts to invest in, I always focus on the brand’s unique offering, expansion, and “It brings us back to the center of sexuality and the birth story.” “We are a founder-led investment firm and are excited to welcome Amir and the South Block team to the Savory family.”

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