The Crack Shack Enterprises, LLC
The Crack Shack operates a highly acclaimed chain of upscale, fast-casual, bone-in fried chicken restaurants. Founded in 2015 by Michael Rosen after successfully launching the fine dining restaurant Juniper and Ivy, The Crack Shack successfully launched its first location in San Diego’s Little Italy neighborhood and has subsequently expanded to six locations across Southern California and in Las Vegas. With leading restaurant-level unit economics and significant growth opportunities outside of its core markets, the Company required both the capital resources and expansion expertise to achieve its ambitious growth objectives.
The Crack Shack owners engaged RA Capital to seek a strategic funding partner to help fuel the Company’s growth ambitions. Despite significant industry headwinds related to the COVID-19 pandemic, RA Capital successfully led a targeted and highly confidential process that resulted in the Company partnering with Savory.
The transaction represented Savory’s first outside investment since the fund was established in partnership with Mercato Partners, a leading growth equity fund. In addition to providing capital for growth, Savory maintains an in-house operations team of more than 50 industry veterans that work with its brands to help them scale. Having the conviction to invest in The Crack Shack amid extreme industry uncertainty speaks to the uniqueness of The Crack Shack brand and the immediate opportunities available to expand the concept
- Industry: Fast Casual Restaurant
- Deal Type: Private Placement
- Location: San Diego, CA