Savory Fund Adds Houston’s Hot Chicken to Portfolio
Summary
The story wasnt the only attractive element, either, as Smith was impressed with the average unit volume of $3 million to $4 million.HHC, as the brand is often called, is the newest investment for the private equity firm. The 11th brand in the firms portfolio, Houstons will expand via corporate and franchised locations.Its a food segment that has been on our minds for about five years, said Smith, who also serves as Savorys managing director. He plans to take advantage of Savorys experience and HHCs success to grow.Theres nobody who has got the franchise system built like HHC, said Smith. To saturate those markets, he noted HHC wants to open 30 to 40 stores, corporate and franchised, annually.We dont want to do as many as we can as fast as we can, said Smith. We want quality store openings so well try to keep it at a slower pace.That slow and steady growth is to ensure a good guest experience.