Union Square Hospitality Group invests in Salt & Straw

May 16, 2017

Danny Meyer’s Union Square Hospitality Group and the private-equity firm KarpReilly have made an investment in the nine-unit Salt & Straw ice cream chain, executives said Tuesday.

Terms were not disclosed, but Portland, Ore.-based co-founders Kim Malek and cousin Tyler Malek will retain majority control of Salt & Straw.

The deal marks the latest in a series of investments by New York-based USHG, which earlier this year invested in Joe Coffee, a specialty brand, with plans to grow on the East Coast. In 2015, USHG made a significant minority investment in the Los Angeles-based Tender Greens chain.

KarpReilly has long