Four Foods Group Buys Swig, Pioneer of Dirty Drinks
Four Foods Group (FFG), the nation’s third fastest-growing restaurant development, investment, and management company, continues its upward trajectory with the acquisition of Swig, the popular St. George, Utah-based specialty soda and food concept. Founded in 2010, Swig is the original pioneer of Dirty (flavored) drinks, a fast-growing segment of the food and beverage industry. The undisclosed, all-cash transaction was finalized on December 1.
Earlier this year, FFG announced it had acquired The Soda Shop, an early-stage participant in the growing specialty soda marketplace. The Soda Shop, with two Arizona locations, will be merged with the Swig brand over the next year. Nicole Tanner, Swig CEO and Founder, will remain with the company as Executive Vice President of Customer Service. The Soda Shop founders Chase Wardrop and Dylan Roeder will also remain with the venture as executive vice presidents of operations and marketing/IT respectively.
“We are thrilled to welcome Nicole and the Swig team into the Four Foods Group family. Together, we expect to take the specialty soda market by storm,” says Four Foods Group Chief Executive Officer Andrew Smith. “Within 18 months, we intend to add locations in Utah, Idaho, Nevada, Arizona, and throughout the Midwest. Shauna and I look forward to working with Nicole, Chas, and Dylan to expand this pioneer and define the soda segment for years to come.”
“I am excited for the Swig team and for our customers,” says Nicole Tanner, CEO and Founder of Swig. “I never imagined we would grow this company to the size it is today and catch the attention of a company like FFG. Their proven management systems and structure will support the growth we see ahead. The Swig story has been inspiring, but the best days are still to come.”
Four Foods Group has a proven track record of implementing their innovative partnership model to ensure growth in all aspects of the company and its partnering businesses. This acquisition is an important milestone as the firm now has 131 total restaurants under management, and is growing 2-3 new units a month across their portfolio of brands. The company is on an explosive growth run over the past five years and is now expected to generate more than $167 million in annual revenues. Four Foods Group CEO Andrew K. Smith was recently recognized as an Ernst and Young Entrepreneur of the Year for the company’s efforts and KPMG’s 2017 Quantum Shift Entrepreneur of the Year.