The private equity firm promotes two top leaders amidst acquisitions, multi-state development, and exponential job growth
Savory, an innovative private equity firm that invests in emerging restaurant concepts, has announced two pivotal promotions: Tyler Nelson is now president of Savory (the value-add platform of the fund), and Richie Stevens is now VP of Finance for Savory Fund.
These advancements come during a high-growth time for the firm, as it just announced its 11th portfolio investment with Houston TX Hot Chicken, operates more than 170 restaurants in 12 states, and has more than 70 restaurant openings to come in 2024.
Nelson, formerly Savory’s CFO, has 23 years of experience in accounting and finance, capital structure advisory, development of infrastructure and controls, and strategic mergers and acquisitions. He has a bachelor’s of accounting from BYU – where he also played football on scholarship.
“Tyler is a powerful asset,” said Shauna K. Smith, CEO of Savory. “He has been my partner in this work for many years, and he has been a vital player in Savory’s pivotal and strategic decisions. I have leaned on him for his analytical perspective, and I’m grateful to work shoulder to shoulder with such a supportive, strong leader.”
“Savory is like family to me,” said Nelson, president of Savory. “The past 12 years have been the best of my career, and I’m looking forward to this next chapter of growth, challenges, and triumphs. The best is truly yet to come for Savory and its portfolio of brands.”
Stevens, who was previously Director of Finance for Savory, has 13 years of experience in finance and accounting for growth companies, as well as M&A diligence and post-acquisition integration. He has been instrumental in building and implementing systems for hyper-growth brands, and he has also developed the financial reporting framework that elevates and strengthens the strategic decision-making process. Stevens started his career at Deloitte, and he has a Masters of Accountancy from the University of Utah.
“Richie continually demonstrates unparalleled leadership and vision,” said Andrew K. Smith, managing director and co-founder of Savory Fund. “He is an integral part of the acquisition, growth, and development of our brands, and he has been a true partner, power player, and change-maker.”
“There’s no place like Savory,” said Stevens, VP of Finance for Savory Fund. “I’m grateful for our team, for impeccable mentors, and for the trust, growth, and friendship I’ve had the opportunity to experience here. It’s been an incredible ride at an incredible company – and we’re just getting started.”
Savory is an innovative private equity firm that combines over $600 million in assets under management with a growth playbook and expertise that has been developed over 15 years of operating in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands, to deliver financial capital, industry expertise, growth and 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. The Savory Fund is currently invested in 11 brands: Swig, R&R BBQ, PINCHO, Via 313 Pizzeria, Mo’ Bettahs Hawaiian Style Food, 86 Repairs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, and Houston TX Hot Chicken. For more information, visit SavoryFund.com.