In a 12-month period where private equity in franchising is surging, Savory Fund is doubling down on top-tier talent to fuel its aggressive growth strategies. The innovative private equity firm, known for its investments in restaurant powerhouses like Swig (one of the best franchise heart stories of 2024, check that out here), recently announced two pivotal promotions: Jessica Moyer as Chief Restaurant Officer (CRO) and Alonso Castañeda as Chief Concept Officer (CCO). These appointments underscore the growing role of seasoned restaurant executives in driving success within the private equity landscape.
A Proven Recipe for Growth
Savory’s 2024 achievements paint a compelling picture of private equity’s role in shaping the future of the restaurant industry. The firm added 67 new locations across its portfolio, expanded to 22 states, and generated a remarkable $356 million in revenue. Standout milestones included the acquisition of D.C.-based South Block and the exit of a majority position in Mo’ Bettahs Hawaiian Style Food after scaling it from 6 to 56 locations.
Jessica Moyer and Alonso Castañeda have been integral to this success. Moyer, who has been with Savory for eight years, is credited with developing the firm’s leadership training institute, fostering talent across its brands, and spearheading operational excellence. In her new role as CRO, she will oversee strategic planning, operations management, and team leadership.
“Wherever Jessica leads, people follow,” said Andrew K. Smith, managing director and co-founder of Savory Fund. “She has incredible vision, powerful communication skills, and enviable industry acumen.”
Castañeda, a 10-year veteran of Savory, has a track record of scaling fast-casual and polished restaurant brands into major players. As CCO, he will focus on implementing innovative strategies, enhancing customer experiences, and aligning creative vision with operational execution.
“He’s a true value-add executive who expertly moves the needle every day,” said Shauna K. Smith, CEO of Savory. “His stealth vision and know-how are just what Savory needs as we embark on an ambitious growth trajectory in 2025.”
The Growing Role of Private Equity in Franchising
The rise of restaurant executives to key roles in private equity firms signals a paradigm shift in the industry. Firms like Savory are prioritizing operational expertise and visionary leadership to scale brands sustainably. With over $750 million in assets under management and investments in 11 brands, Savory exemplifies how private equity is not just about financial backing but also strategic growth and operational excellence.
In 2025, the competition among private equity players in the franchising space is expected to intensify. Savory’s success in combining industry knowledge with financial resources positions it as a leader in this dynamic landscape.
