Press Release: Savory Invests in Via 313 Pizzeria to Propel New Growth
Pizza Today™ named Via 313 as Pizzeria of the Year in August 2020. Now with the Savory team, they are poised to bring Detroit-style pizza to patrons across the country
NEWS PROVIDED BY: Savory Management
Oct 13, 2020, 09:00 ET
SALT LAKE CITY, Oct. 13, 2020 /PRNewswire/ -- Savory today announced its investment in Via 313, an award-winning restaurant concept specializing in Detroit-style pizza based in Austin, Texas. Together, Savory and Via 313 will look to further grow the highly touted brand into new locations. This is the second investment in the past month for Savory. The inaugural $90 million fund was announced in June and has now officially closed at $100 million.
Via 313 owners Brandon and Zane Hunt grew up in Detroit and were inspired to bring their hometown's signature take on pizza––with its rectangular shape and thick crust that is both crisp and chewy––to their new home in Texas. They opened the restaurant's first location in 2011, a small trailer in downtown Austin, and quickly added a second trailer before the end of the year. Since then, the Hunt brothers have expanded into three brick-and-mortar locations. In August 2020, Via 313 earned the national accolade 2020 Pizzeria of the Year by Pizza Today™.
Andrew K. Smith, Managing Director of Savory, said, "I grew up in Chicago and have always had an affinity for pizza. Despite the crowded fast casual pizza industry, I believe there is a large hole in the market for the nostalgic pizza experience I grew up on. When I met Brandon and Zane Hunt, who introduced me to Via 313, my eyes were opened to the amazing and creative Detroit-style pizza heritage. I knew I had to work with the Hunts and expand their dream to more cities across America. By combining all of our collective experience, we have an opportunity to lead out on this segment of Detroit-style pizza."
Savory pairs its team of award-winning industry veterans with access to growth capital, filling a major gap in the food and beverage industry. The team's decades of experience and success include real estate selection and negotiation, development and construction, project and event management, talent recruiting, leadership training and development, supply chain/procurement, human resources, accounting, strategic financial planning and facilities management.
"The management team at Savory has a deep understanding of our industry and a clear plan for where we need to go next," said Brandon Hunt, co-founder of Via 313. "Taking these next steps together will allow Zane and me to focus on improving our passion for the best Detroit-style pizza and finding the most interesting and exciting flavors from across the country."
"We were the first to call it 'Detroit-style pizza' outside of our hometown over nine years ago. It simply didn't exist. We are excited to expand this experience into more communities and states with the help of Savory and their team," said Zane Hunt, co-founder of Via 313.
Via 313 joins Savory's current portfolio of highly popular restaurant concepts, including The Crack Shack, Mo' Bettahs, R&R BBQ, and Swig. Savory's portfolio of brands has seen remarkable growth throughout the COVID-19 pandemic, exceeding pre-pandemic sales as well as sticking with an aggressive growth plan with more than 45 current sites in development moving into 2021.
To learn more about Via 313, visit via313.com. For information about how Savory helps restaurant concepts sustainably grow and thrive, contact the team at info@savoryfund.com or visit savory.mercatopartners.com
About Savory Savory, a Mercato Partners Fund, is focused on delivering outsized returns through strategic investments in the food and beverage industry. Savory partners with high-potential, profitable, emerging restaurant brands, to deliver financial capital, industry expertise, revenue opportunities, profitability enhancements, and new location development. The Savory team contributes directly to all aspects of growth and replication by using a proven playbook and methodology. Founder involvement in the expansion of a brand is a central theme of the Savory approach as founders carry the tribal knowledge around the uniqueness that has energized early success and is essential to future growth.
About Via 313 Before Detroit-style pizza became a hit thing outside of the Motor City, trailblazers Brandon and Zane Hunt decided to bring their hometown pizza to Austin, Texas. Since 2011, they've built an Austin icon that locals and tourists flock to for a genuine Detroit pizza. Via 313 currently has three brick-and-mortar locations and two permanently placed trailers. In August 2020, Pizza Today™ awarded Via 313 as Independent Pizzeria of the Year.
Morgan Kingston Advisors acted as exclusive financial advisor to Via 313 in this transaction.
SOURCE Savory Management