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D.C. and Dallas-based non-public fairness companies spend money on the booming Hawaiian-style meals model, with Savory and Mo’ Bettahs’ founders retaining vital minority possession
Lehi, UT (RestaurantNews.com) Mo’ Bettahs Hawaiian Model Meals, the category-defining quick informal idea serving up genuine Hawaiian plate lunch, at the moment introduced that Blue Marlin Companions and Trive Capital have partnered to accumulate a majority stake from Savory Fund. Each Savory and Mo’ Bettahs’ founders will retain vital minority stakes.
Mo’ Bettahs was based in 2008 in Bountiful, Utah, by Hawaii-born brothers Kimo and Kalani Mack. In 2017, it was acquired by Savory Fund, an modern non-public fairness agency that invests in rising restaurant ideas. Collectively, they’ve scaled the award-winning model from 6 shops to now 56 shops throughout seven states — all whereas delivering optimistic same-store gross sales progress yr over yr.
“Mo’ Bettahs is — and at all times will likely be — certainly one of my favourite investments we’ve ever made due to the folks,” stated Andrew Okay. Smith, managing director of Savory Fund. “We love the tradition that Kimo and Kalani Mack created 16 years in the past, we love the meals that they share as in case you are in their very own yard in Hawaii, and we couldn’t be prouder of the partnership we’ve fashioned. Over the previous seven years, they’ve turn into like brothers to us all, and we’re excited to welcome Blue Marlin Companions and Trive Capital into the Mo’ Bettahs ohana.”
Blue Marlin Companions, headquartered in Bethesda, MD, and Trive Capital, headquartered in Dallas, TX, are each main non-public fairness companies with investments in quite a lot of classes. Impressed by Mo’ Bettahs’ genuine menu, high-growth trajectory, and top-quality workforce, Blue Marlin and Trive Capital are each energized and uniquely positioned to help Mo’ Bettahs because it enters its subsequent stage of progress.
“Mo’ Bettahs has established itself because the chief within the Hawaiian class, in addition to probably the most thrilling quick informal manufacturers available in the market with its high-quality meals and genuine eating expertise that harkens again to Kimo and Kalani’s days rising up in Hawaii,” stated Peter Kirsch, founder and managing accomplice of Blue Marlin. “We’re excited to construct on the model’s vital momentum and share the aloha with company throughout the nation.”
Chris Zugaro, accomplice at Trive, stated: “Kimo, Kalani, and CEO Rob Ertmann have achieved an unimaginable job constructing and increasing the Mo’ Bettahs model and delivering an genuine Hawaiian expertise to their clients. We look ahead to partnering with the Firm to help its subsequent part of progress.”
“I’ve seen Mo’ Bettahs greater than double in dimension throughout my time right here, however because of good companions like Savory, the guts of the model has at all times remained the identical,” stated Rob Ertmann, CEO of Mo’ Bettahs, who joined the model in 2021 when it had 22 shops in two states. “I’m assured Blue Marlin and Trive will solely add to that synergy, and our workforce can’t wait to get began on bringing genuine Hawaiian delicacies to extra neighborhoods, pals, and households.”
Mo’ Bettahs has received awards and received over regulars since its founding 16 years in the past. Over the past three years, its income has grown 178%, and its loyalty subscriber base has reached almost 500,000 members.
“We by no means deliberate on proudly owning a restaurant — not to mention virtually 60 of them. We have been two metropolis bus drivers from Hawaii who knew the best way to cook dinner, the best way to eat, and the best way to work, however the best way our lives have unfolded is past something we may have imagined,” stated Kimo and Kalani Mack, co-founders of Mo’ Bettahs. “We wouldn’t be right here with out our Savory companions, Andrew and Shauna Smith. They’ve been by our aspect at each step of progress, all whereas respecting and honoring our expertise and heritage. We’re honored to proceed the journey with them as we welcome Blue Marlin and Trive to the Mo’ Bettahs’ fold. Their partnership will allow us to share good meals and ‘unfold da aloha’ throughout the mainland for years to come back.”
Phrases of the transaction weren’t disclosed. Harrington Park Advisors served as unique monetary advisor to Mo’ Bettahs, and Mayer Brown served as authorized advisor to Mo’ Bettahs and Savory Fund. Benesch served as authorized advisor to Blue Marlin. Gibson Dunn served as authorized advisor to Trive Capital.
About Mo’ Bettahs Hawaiian Model Meals
Mo’ Bettahs was based in Bountiful, Utah in 2008 by Kimo and Kalani Mack with a objective of offering company with an genuine Hawaiian island barbeque expertise, similar to they loved whereas rising up in Oahu, Hawaii. Since partnering with Savory Fund, Mo’ Bettahs has grown to 56 shops in Utah, Idaho, Oklahoma, Texas, Missouri, Nevada, and Kansas. Mo’ Bettahs has plans to unfold the aloha spirit to extra communities by means of continued enlargement within the coming months and years. Mo’ Bettahs ranked #46 on Quick Informal’s “Prime 100 Movers and Shakers” checklist in 2023. Mo’ Bettahs provides dine-in, takeout and catering. For extra data, go to Mo’ Bettahs’ web site or comply with on Instagram, Fb or Twitter.
About Savory Fund
Savory Fund is an modern non-public fairness agency that mixes over $750 million in belongings below administration with a progress playbook and experience that has been developed over 15 years of working within the restaurant business. Savory companions with high-potential, worthwhile, rising restaurant manufacturers to ship monetary capital, business experience, progress and income alternatives, profitability enhancements, and new location improvement. The Savory workforce contributes on to all points of progress and replication by utilizing a confirmed playbook and methodology. Founder involvement within the enlargement of a model is a central theme of the Savory method as founders carry the tribal data across the uniqueness that has energized early success and is crucial to future progress. Savory is at present invested in 11 manufacturers: Swig, R&R BBQ, PINCHO, By way of 313 Pizzeria, Houston TX Sizzling Rooster, Mo’ Bettahs Hawaiian Model Meals, 86 Repairs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, and South Block. For extra data, go to SavoryFund.com.
About Blue Marlin Companions
Blue Marlin Companions is a non-public funding agency that invests in established center market companies trying to considerably develop and notice shareholder worth. Blue Marlin was based by Peter Kirsch with a choose group of absolutely dedicated capital sources — together with household places of work and excessive web value people — as a unique kind of personal funding agency. Blue Marlin was fashioned to take away the standard institutional constraints of personal fairness funds, thus enabling better flexibility when it comes to business, deal constructions and funding time horizons. Its investee companions have entry to profitable entrepreneurs, operators, buyers and enterprise leaders who’re dedicated to making use of the data gained from their direct operational expertise, monetary assets, strategic help, networks, and sector-specific experience, to assist considerably develop companies and notice shareholder worth. Thus far, Blue Marlin has deployed over $750MM of capital throughout 29 platform investments together with strategic companions. For extra data, go to BlueMarPartners.com.
About Trive Capital
Trive Capital is a Dallas, Texas-based non-public fairness agency with greater than $7 billion of regulatory belongings below administration. Trive focuses on investing fairness and debt in what it sees as strategically viable middle-market corporations with the potential for transformational upside by means of operational enchancment. We search to maximise returns by means of a hands-on partnership that requires figuring out and implementing worth creation concepts. The Trive workforce is comprised of seasoned funding professionals who’ve been concerned in over 250 middle-market transactions representing in extra of $7 billion in income throughout Trive’s focused business sectors and conditions. For extra data, go to TriveCapital.com.
Contact:
Jay Brasher
Champion
806-437-9583
jbrasher@championmgt.com
- Extra from Mo’ Bettahs
