Nicole Tanner, founder of Swig, with backers

Last year, Swig and the Larry H. Miller company won the prestigious Deal of the Year award. Find out in the May issue of Franchise Times who won this year. From left: Nicole Tanner, founder of soda brand Swig, Gail Miller of new owner Larry H. Miller family office and Shauna Smith, CEO of Savory, which helped build Swig to 50 units.

A trifecta of women leaders is behind the success of Utah-based soda brand Swig, winner of the 2023 Franchise Times Deal of the Year, the magazine's editors announced today.

Nicole Tanner is the founder of Swig, which she started in 2010 in St. George, Utah, because "there was something missing in the experience," Tanner tells Franchise Times in the May cover story. "I do believe Swig is meant to be everywhere."

Gail Miller heads Salt Lake City-based family office The Larry H. Miller Co., which bought a 75 percent stake in Swig last year and is embarking on a major growth push, including a new franchise program.

Shauna Smith is CEO of the management arm of Savory Restaurant Fund, which bought Swig in 2018 and helped it grow from 17 stores then to nearly 50 today. Savory and Tanner, plus two other partners, retain minority stakes.

The May issue profiles nine additional winners in the 11th annual Franchise Times Dealmakers project, which highlights excellence in mergers and acquisitions in the franchise space. Nominations for next year's project open October 1 at franchisetimes.com/dealmakers.