ST. GEORGE — The Southern Utah-based drive-thru soda fountain Swig already has locations in five western states, but they wanted to go national. Swig founder Nicole Tanner said they just needed a partner — someone family-oriented such as themselves, but with knowledge of taking businesses to the next level.
On Monday, Swig announced the Larry H. Miller Company has acquired a majority stake in the company.
In an interview with St. George News, Tanner said she and her husband came up with the idea for a drive-thru soda fountain after becoming frustrated with a national burger chain that offered similar drinks.
“We liked the fact you could customize your drinks, but you had long wait times when there were lots of people ordering food,” she said on Tuesday. “And sometimes they came out in greasy cups from the employees handling food. We knew we could do it better.”
The first Swig store opened in St. George in 2010, offering not only soda, but water, fruit and energy-based drinks. There are currently 45 locations in five states, supporting more than 1,200 employees, with store number 46 opening in Dallas in two weeks. Still, Tanner and other Swig executives wanted to bring the brand to the “Eastern and Southern markets.”
“We want to be the drink stop for everybody,” she said. “Everyone deserves a Swig made their way, with the same consistency every time.”
As a family-owned business, the LHM Company invests in other family-owned or founder-led companies with world-class management teams and a commitment to enriching the community, according to the press release announcing the Miller Company’s majority stake.
“Swig’s founders, and team, including the Savory Fund, have done an amazing job building this fast-growing brand,” said LHM Company CEO Steve Starks. “We love Swig’s growth trajectory, best-in class customer service, strong employee culture, and commitment to delivering positive guest experiences. We are excited to welcome the Swig team to the LHM Company and are excited to help accelerate its national expansion.”
Savory Fund purchased the Swig brand in 2018 and CEO Rian McCartan will continue to run operations, the release stated. Savory Fund, Swig founder Nicole Tanner, and partners Chase Wardrop and Dylan Roeder will each retain minority stakes in the business.
The fact that her need for flavored Diet Coke with pebble ice created a company that employs hundreds has inspired Tanner, who said her favorite moments come from giving back to the community.
“Watching the jobs and careers developing for so many people, our leadership training team, watching our managers grow into effective communicators – even if they leave us, they are making a difference in their community wherever they go.”
In 2020, Tanner started the nonprofit Save The Cups as a way to spread awareness and help pay the medical bills of women fighting breast cancer. To date, the foundation has raised more than $550,000.
Tanner also noted that customers at each Swig location choose a charity or nonprofit, such as a local homeless shelter or food bank, during the holiday season and donation drives are organized as another way of giving back.
Gail Miller, owner of the LHM Company, said in the news release that she was impressed with the Swig business model and their commitment to community work.
“I am proud to invest in Swig, a business founded by a woman whose approach to community building aligns with ours,” Miller said. “Nicole and the team are invested in their leaders and employees, and their values are strongly reflected in their everyday operations.”
As far as partnering with an iconic Utah company such as Larry H. Miller, the decision was made easier knowing that both companies had similar visions and goals, Tanner said. When looking at the prospect of going nationwide, and strategic partners that would help the company grow successfully, they really didn’t have to look far.
“The Larry H. Miller Company is very team-focused and family-focused, so our overall goals aligned very well,” she said. “This is an exciting time for all of us at Swig and we are honored to join forces, and to learn and grow with them.”
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