Estimated read time: 3-4 minutes
- Savory Fund acquires Bonrue Bakery, planning Wasatch Front expansion as early as this year.
- Bonrue's cofounders remain in charge, aiming to grow beyond southern Utah.
- Savory praises Bonrue's blend of craft and efficiency, enhancing bakery's growth potential.
ST. GEORGE — Bonrue Bakery has become a popular place for a quick bite to eat in southern Utah since it debuted as Farmstead in St. George four years ago.
Its popularity has helped it grow to additional locations in Hurricane and Springdale, as it has expanded its presence in Washington County. Now, it's destined to take on Utah's biggest market as it undergoes new ownership.
Savory Fund, a Lehi-based private equity firm known for developing some of the state's biggest food brands, announced Wednesday that it has acquired the popular bakery brand. Terms of the agreement were not disclosed, but Bonrue cofounders Chris Connors and Li Hsun Sun will remain in charge of the bakery they created.
Both sides say they already have plans to help the bakery grow beyond southern Utah, starting with an expansion to the Wasatch Front as early as this year.
"We're honored and excited to partner with Savory — not just because of their growth track record, but because they've actually lived our world," Sun said in a statement. "Their team has run bakeries, led cafés and they understand the nuance of scaling handcrafted food without losing what makes it unique. It's the kind of partnership you can build something lasting with."
Sun, Connors and Chris Herrin opened Farmstead in 2021, years after a discussion they had about the foods they loved in Las Vegas, where they had worked as chefs and restaurateurs at fine-dining establishments. It ultimately inspired them to create a "European-style bakery" when they were all together in southern Utah, the company notes on its website.
They built a patisserie, aiming to provide "warm hospitality and rich recipes of baked goods." They also created a high-volume service system that allows them to sling out pastries, drinks and other food items quickly.
Herrin died months after the business opened. St. George honored him in 2022, proclaiming April 20 "Chris Herrin Day."
But their vision quickly gained steam, leading to two more locations. They brought on Marie Yonge, who trained under legendary chefs Alain Ducasse and Gordon Ramsay, as their head pastry chef, and Michael Mina, who worked at Bouchon Bistro in Las Vegas, as their head baker.
It then became Bonrue Bakery last month, following a trademark issue.
Regardless of its name, the bakery caught the attention of Savory Fund, which owns over $750 million in various assets tied to the food and beverage industry, including local favorites like Mo' Bettahs and R&R BBQ. It also brought in out-of-state brands like Via 313 Pizzeria and Houston TX Hot Chicken to Utah. The firm also held a majority stake in Swig before it sold that to the Larry H. Miller Company in 2022.
Bonrue's mix of "precision and artistry" and speed gives it the potential to "redefine what a modern bakery experience can be," said Andrew Smith, the firm's co-founder and managing director.
"Bonrue is a rare and remarkable blend of craft and efficiency," he said. "The talent behind this brand is nothing short of extraordinary — chefs trained in some of the world's most prestigious kitchens."
Its expansion is also expected to be quick. It wasn't immediately clear where the bakery will move next, but Savory Fund officials say that Bonrue's first Wasatch Front locations will debut "in the coming months."
