Lehi-based Savory Fund, a 15-year-old private equity firm operating in the restaurant industry, has acquired South Block, a healthy food chain headquartered in Clarendon, Virginia. Founded in 2011, South Block specializes in fresh, made-to-order smoothies, acai bowls, toasts and cold-pressed juices. It now has 15 locations across D.C., Maryland and Virginia.
Savory said that Amir Mostafavi, founder and CEO of South Block, will continue on as CEO operations manager after the deal closes. Mostafavi also operates a nonprofit for South Block called Fruitful Planet, which provides fresh fruits and vegetables to underserved communities.
Financial details were not announced.
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