Utah-based Larry H. Miller Company has acquired a majority stake in Swig, home of the Original Dirty Soda, from Savory Fund, the private equity firm focused on emerging food and beverage concepts. Savory Fund, Swig Founder Nicole Tanner, and partners, Chase Wardrop and Dylan Roeder, will each retain significant minority stakes in the business, according to a company press release.
Savory Fund purchased the beverage brand in 2018, and in the last two years, it more than doubled its footprint. Swig, which offers a variety of customized drinks and treats, will reach 46 locations by the end of 2022 — with over 25 corporate locations scheduled to open in 2023.
“Swig’s founders, and team, including the Savory Fund, have done an amazing job building this fast-growing brand,” Steve Starks, CEO of the LHM Company, said in the release. “We love Swig’s growth trajectory, best-in-class customer service, strong employee culture, and commitment to delivering positive guest experiences. We are excited to welcome the Swig team to the LHM Company and are excited to help accelerate its national expansion.”
In addition to the investment and beginning in 2023, the Larry H. Miller Company will also begin offering a Swig experience in LHM Megaplex Theatres, which includes both companies accepting refillable Swig tumblers and Megaplex Theatres mugs at the price of the location providing the refill for a limited time.
“I am proud to invest in Swig, a business founded by a woman whose approach to community building aligns with ours,” Gail Miller, owner of the LHM Company, said in the release. “Nicole and the team are invested in their leaders and employees, and their values are strongly reflected in their everyday operations.”
