SAVORY FUND INVESTS IN HAWKERS -- IGNITING A BOLD NEW ERA FOR THE ASIAN STREET FOOD ICON

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Jun 12, 2025, 09:00 ET

The cult-favorite concept known for big flavors and high energy kicks off a monumental expansion with Savory Fund

LEHI, Utah and ORLANDO, Fla., June 12, 2025 /PRNewswire/ -- Woks are hot, vibes are high, and Hawkers is just getting started. Today, the beloved Asian street food concept announced its official partnership with Savory Fund, setting the stage for a major growth chapter fueled by operational firepower and deep hospitality expertise.

Hawkers, the cult-favorite Asian street food concept, is teaming up with Savory Fund to fuel its next phase of growth. Founded in 2011 in Orlando, Florida, by four childhood friends, the brand now boasts 15 vibrant locations across Florida, the Southeast and Texas.

Founded in 2011 in Orlando, Florida by four childhood friends, Hawkers has grown into a high-energy, flavor-forward dining experience with 15 thriving locations across the Southeast and Texas. Inspired by the bold flavors found in the vibrant hawker stalls of Asia, the brand delivers authentic street food in an atmosphere made for sharing — and celebrating.

Now, with the backing of Savory Fund — an innovative restaurant investment firm known for scaling powerhouses like Swig, Mo' Bettahs and Via 313 — Hawkers is poised for its next big leap. With Savory's proven playbook and hands-on approach, this is the right partnership at the right time, allowing the brand to accelerate growth while staying deeply rooted in culture, community, and culinary craft.

"I've been watching Hawkers for years. The food, the energy, the following — it's magnetic," said Andrew K. Smith, co-founder and Managing Director of Savory Fund. "From my very first visit, I knew there was something special here. And over time, my conviction only deepened. The team, the guest loyalty, the cultural connection — it's the kind of brand you don't just scale, you rally behind. With momentum building and a rock-solid foundation in place, now is the time."

Hawkers was launched by Kaleb Harrell, Allen Lo, Wayne Yung, and Kin Ho after traveling together through Asia and falling in love with the flavors, textures, and spirit of street food culture. Since then, they've built a category-defying brand that's both chef-driven and wildly approachable — earning everything from Michelin Guide recommendations to cult-level fan devotion.

"We built Hawkers on heart, hustle, and a hunger to share everything that makes Asian street food special," said Kaleb Harrell, CEO and co-founder of Hawkers. "Over the years, it's become clear that this brand has the potential to be something bigger than we ever dreamt it could be — and finding the right partner is crucial to achieving that goal. Savory is that partner. This isn't just about capital; it's about expertise, energy, and alignment with a partner who loves the soul of this brand as much as we do. Savory understands what makes Hawkers special — the heart, the hustle, and the hunger — and together I know we are headed for something legendary. This is the right team, and this is the right time."

Hawkers continues to outperform the category, boasting standout AUVs of $4.6 million and an impressive 4.8-star guest satisfaction score across the system. And while most casual dining brands see an average guest 1.5 times per year, over 50% of Hawkers' dine-in traffic comes from fans who visit 5+ times annually — with some locations seeing more than half of their dine-in guests return 8+ times a year.

With strongholds in key markets like Orlando, Washington D.C., Atlanta, Dallas, Charlotte, and Nashville, Hawkers already has momentum in some of the country's most vibrant food scenes. The next phase of expansion will double down on these high-performing markets — building deeper roots, bigger footprints, and even stronger guest loyalty where demand is already off the charts.

Hawkers marks the third investment into Savory Fund III's portfolio, which includes acai and smoothie concept South Block and the European-style patisserie Bonrue Bakery, announced just last week.

Terms of the transaction were not disclosed. Mayer Brown served as legal advisor to Savory Fund. Golenbock, Eiseman, Assor, Bell & Peskoe, LLP served as legal advisor to Hawkers.

Hawkers filed for Chapter 11 bankruptcy protection in September 2024 and voluntarily withdrew from Chapter 11 in February 2025, following a consensual loan restructure from the prior lender.

ABOUT SAVORY FUND

Savory is an innovative private equity firm that combines over $750 million in assets under management with a growth playbook and expertise that has been developed over 16 years of operating in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands, to deliver financial capital, industry expertise, growth and revenue opportunities, profitability enhancements and new location development. The Savory team contributes directly to all aspects of growth and replication by using a proven playbook and methodology. Founder involvement in the expansion of a brand is a central theme of the Savory approach as founders carry the tribal knowledge around the uniqueness that has energized early success and is essential to future growth. Savory is currently invested in the following brands: Swig, R&R BBQ, PINCHO, Via 313 Pizzeria, Mo' Bettahs Hawaiian Style Food, 86 Repairs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, Houston TX Hot Chicken, South Block, Bonrue Bakery, and now Hawkers. For more information, visit SavoryFund.com.

ABOUT HAWKERS

Hawkers Asian Street Food, headquartered in Central Florida, was founded by four friends who traveled the world on a mission to curate a memorable dining experience built on generations-old recipes and hand-picked street foods from across Asia. Kaleb Harrell, Allen Lo, Wayne Yung, and Kin Ho opened the first Hawkers location (Orlando, Fla.) in 2011, and the concept has since grown to include 15 locations spanning the states of Florida, Georgia, North Carolina, Tennessee, Maryland, Virginia, and Texas. Having earned a 2022 Michelin Guide Recommendation, the restaurant serves bold and authentic Asian street food in an experience-driven environment that uses shared plates to encourage the exploration of new flavors through a guest's personal culinary adventure. To learn more or find a location near you, visit www.EatHawkers.com.