The Scottsdale-based restaurant group, The Maggiore Group, and private equity firm Savory Fund announced today the companies have formed a capital growth partnership to expand restaurant concepts The Sicilian Butcher with sister company The Sicilian Baker with an undisclosed investment amount. Within the next four years, The Maggiore Group and Savory will grow from three locations of The Sicilian Butcher and The Sicilian Baker and open nearly 20 new units in Arizona and beyond.
“Both The Sicilian Butcher and The Sicilian Baker have filled a void in the Italian restaurant segment with a fresh, forward-thinking, experiential approach,” said Andrew K. Smith, managing director and co-founder of the Savory Fund. “It’s an elevated, family-friendly, home-away-from-home dining experience that is both unique and unforgettable.”
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The Maggiore Group’s co-founders Joey and Cristina Maggiore, along with business partner Flora Tersigni, debuted The Sicilian Butcher and its sister concept The Sicilian Baker in 2017. Its first locations were in the North Phoenix/Paradise Valley area, and then added additional locations in Chandler and Peoria. The Sicilian Butcher is a unique fast-casual dining concept with quality Italian and Sicilian-inspired bruschetta and charcuterie boards, pizza alla palla, pasta dishes, and a create-your-own meatball experience where guests choose from a variety of craft meatballs, sauces, and bases such as risotto, polenta, and fresh handmade pasta. Connected next door to The Sicilian Butcher is the cannoli bar, coffee bar, and bakery at The Sicilian Baker, where guests can order post-dinner espresso drinks, customize their own cannoli creations, and grab authentic Sicilian and Italian pastries, gelato and desserts.
“The Savory Fund will take The Sicilian Butcher and The Sicilian Baker to the next level with their growth strategies, savvy restaurant operations plans, and proven track record in successfully scaling from coast to coast,” said Joey Maggiore, co-founder of The Maggiore Group. “With every opening of The Sicilian Butcher, we have honored my Sicilian father and legendary chef with a photo wall dedicated to him, and we will continue his legacy in each state we bring these concepts to.”
The Savory Restaurant Fund comes with leadership guidance from industry veterans including Savory Co-founders and Managing Directors Andrew K. Smith and Greg Warnock and operating veterans from the Savory Management team led by Chief Executive Officer, Shauna Smith. The Savory management team will assist The Sicilian Butcher and The Sicilian Baker’s real estate selection and negotiation, leadership training and development, supply chain/procurement, human resources, accounting, strategic financial planning, facilities management, and sales and marketing. Co-founders and husband-and-wife team, Joey and Cristina Maggiore, will continue to be involved with the restaurant brands’ growth. Joey will be instrumental in food and beverage consistency, kitchen operations, and creative menu development and Cristina Maggiore will oversee the restaurant design and brand marketing as the concepts broaden their locations.
Prior to this joint venture, Savory Fund became partners of The Maggiore Group’s brunch-centric and Bloody Mary bar concept, Hash Kitchen, which will open two new Phoenix area locations in Gilbert and in Glendale by end of year and beginning of 2023 and has seven upcoming locations outside of Arizona.
