Savory Fund announced today that it has invested in the popular burger and kebab concept, Pincho. The Miami-based fast-casual chain is the latest brand to attract growth capital from Mercato Partners’ $200 million Savory Fund, which was created to back promising emerging restaurant concepts.
Founded in 2010 by serial entrepreneur Otto Othman, Pincho’s Latin-inspired menu features burgers, kebabs, salads, bowls and more. Its highly experiential and bold flavors offer unique twists on familiar foods that consumers already know and love.
“We know that consumers are craving unique flavors and international experiences, and they’re increasingly looking for restaurants to transport them to their favorite destinations,” says Andrew K. Smith, managing partner and co-founder of the Savory Fund. “That’s why we decided to invest in Pincho. Its international, award-winning menu, differentiated branding and strong leadership team led by Otto are exactly what we look for in concepts poised for rapid growth.”
Pincho emerged from the worst of the COVID-19 pandemic as a stable, winning concept thanks to the leadership team’s rapid adoption of new practices that optimized its off-premise and takeout business. Savory will capitalize on this positive momentum by unleashing the strengths of its value-added platform to enhance Pincho’s operations, accelerate its scale and unlock its massive potential.
Going forward, Othman will remain as CEO and will be joined on Pincho’s Board of Directors by Savory Fund executives Shauna Smith, Alonso Casteneda and Taylor DeHart.
Pincho currently operates eight retail locations across South Florida and licenses two additional locations at Florida International University and LoanDepot Park, home of the Miami Marlins. Savory’s investment will be used to immediately prepare for hyper-growth across a multi-state region, including additional growth in southern and central Florida and Texas.
“Since I first met the team at Savory more than two years ago, they have consistently demonstrated a unique ability to build brands like Pincho, unlocking additional enterprise value through their high level of execution and acceleration of scale,” Othman says. “We’re thrilled to partner with Savory and its outstanding leadership team as we embark on what is sure to be an exciting ride. We have always believed that Pincho is a concept that can and should expand from coast-to-coast, and I can’t wait to make our vision a reality.”