Savory Fund backs Zao Asian Grill
The deal to scale the 23-unit fast-casual Asian concept nationally comes with a $12.5 million debt facility and same-store sales up 18.2%.
Takeaways
- Zao Asian Grill is a fast-casual Asian-inspired bowls, noodles, and wraps restaurant chain.
- Savory Fund is acquiring Zao Asian Grill.
- The target serves fast-casual dining across Mountain West.
Savory Fund has made a platform investment in Zao Asian Grill, a 23-unit fast-casual chain specializing in Asian-inspired bowls, noodles, and wraps.
The Mountain West-based concept reported 18.2% same-store sales growth and secured a $12.5 million debt facility from Columbia Bank to fund new location development.
"We've spent years proving that this concept works.
When you offer guests approachable, flavor-forward Asian food, they'll come back for it again and again.
Watching this brand earn that loyalty, location by location, has been one of the great honors of my career," said Dave Duffin, founder of Zao.
Savory plans to scale Zao nationally, with more than 10 new locations projected through 2027, and the deal marks the fourth investment in Savory Fund III, joining South Block, Bonrue, and Hawkers.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.