Savory announced on Wednesday the acquisition of South Block, a 15-unit restaurant chain based out of Clarendon, Va.
This becomes the twelfth investment Savory has made from its $200 million Fund III since its founding in 2020. Led by managing partner and cofounder Andrew K. Smith, Savory has invested in Swig, Via 313, Hash Kitchen, PINCHO, Mo’Bettahs, R&R BBQ, 86 Repairs, Saigon Hustle, The Sicilian Butcher, and Houston TX Hot Chicken.
South Block currently has locations in Washington, D.C., Virginia, and Maryland, and is known for its health-focused menu that includes made-to-order smoothies, açaí bowls, toasts, and cold-pressed juices.
“I instantly fell in love with South Block — from the moment I took a bite of that insanely good PBJ açaí bowl. Their menu is healthy without being intimidating, their systems are effective and sound, and their devoted following is incredible to watch,” Smith said in a statement. “[Founder and CEO Amir] Mostafavi has not only created a successful brand, he has curated a team we are honored and thrilled to work with as we scale this standout concept throughout the northeast.”
Mostafavi will continue on as CEO post-acquisition.
“South Block was built by always putting people first. Our people, our culture, and our community are the driving force behind what makes South Block shine,” Mostafavi said in a release. “When seeking a partnership to accelerate our growth, we knew we couldn’t compromise our core values. Savory stood out because of their focus on founders’ vision and their dedication to culture. Our teams have blended so well from the start. We couldn’t be more excited about the jobs we are going to create, and the positive impact we are committed to cultivating on every block we become a part of.”
South Block was founded in Clarendon, Va., in 2011 by Amir Mostafavi to build healthier communities, one block at a time. Along with the restaurant, Mostafavi also started a nonprofit called Fruitful Planet, which provides fresh fruit and vegetables to underserved communities.
“I have met with hundreds of brands over the years, and deciding what concept to invest in always comes back to its unique offering, its scalability, and the heart of its origin story,” said Taylor DeHart, principal at Savory. “We are a founder-driven investment company, and we are thrilled to welcome Amir and the South Block team to the Savory family.”