Salt & Straw Plans Expansion In Portland
Salt & Straw Ice Cream, which has three locations in its hometown Portland market, along with a soft-serve concept called Wiz Bang Bar, has obtained investment from the New York-based Union Square Hospitality Group and private equity firm KarpReilly.
The terms were not disclosed, but the artisanal ice creamery will use the investment to develop a commercial kitchen in Portland and a production facility in San Francisco, Nation's Restaurant News reports. The founders of Salt & Straw will retain control of the company.
Salt & Straw also has locations in Los Angeles and San Francisco, and plans one in Seattle. The company uses local, organic and seasonal ingredients and offers unusual flavors, such as black olive brittle and goat cheese, iris liqueur and edible flowers sorbet, and green apple and wasabi flowers.
Union Square Hospitality Group recently took a stake in Joe Coffee, a specialty brand, and in 2015, it made an investment in the LA-based Tender Greens chain. KarpReilly has a habit of investing in up-and-coming restaurant concepts, including Burger Lounge, Eureka!, Patxi’s Pizza, Superba and Sprinkles Cupcakes.