Purchasing Company: The Larry H. Miller Company
Sold Company: Swig
Price Tag: Undisclosed
The Larry H. Miller Company purchased a majority share from Savory Fund, a food and beverage investment firm that’s owned Swig since 2018. As part of the transaction, founder Nicole Tanner and partners Chase Wardrop and Dylan Roeder kept their minority stakes.
Tanner started Swig in St. George, Utah, in 2010. In the past two years, Savory Fund has helped the brand more than double its footprint to 45 shops. In 2023, the beverage concept expects to debut more than 25 corporate locations. In October, the company revealed new CEO Rian McCartan, a former executive with See’s Candy, American Eagle, Williams-Sonoma, and Skechers.