SALT LAKE CITY--(BUSINESS WIRE)--Mo’ Bettahs Hawaiian Style Food, the category-defining fast casual concept serving up authentic Hawaiian plate lunch, today announced it has sold a majority stake to Blue Marlin Partners and Trive Capital. Savory Fund, Mo’ Bettahs’ founders, and Crewe Capital will retain significant minority stakes.
Founded by Hawaii-born brothers Kimo and Kalani Mack, Mo’ Bettahs began in 2008 in Bountiful, Utah. In 2017, Crewe Capital advised Mo’ Bettahs on the sale to Savory Fund, an innovative private equity firm that invests in emerging restaurant concepts. Together, they have scaled the award-winning brand from six to now 56 locations across seven states — all while delivering positive same-store sales growth year over year.
“We are grateful for the trust Mo’ Bettahs put in us to help form the partnership with Savory Fund, allowing us to invest alongside them both then and again now with Blue Marlin Partners and Trive Capital. It’s going to be exciting to watch this next stage of growth for Mo’ Bettahs,” said Mike Bennett, Managing Partner of Crewe Capital.
“Mo’ Bettahs is — and always will be — one of my favorite investments we’ve ever made because of the people,” said Andrew K. Smith, Managing Director of Savory Fund. “We love the culture that Kimo and Kalani Mack created 16 years ago, we love the food that they share as if you are in their own backyard in Hawaii, and we couldn’t be prouder of the partnership we’ve formed. Over the past seven years, they’ve become like brothers to us all, and we’re excited to welcome Blue Marlin Partners into the Mo’ Bettahs ohana.”
“I’ve seen Mo’ Bettahs more than double in size during my time here, but thanks to good partners like Savory, the heart of the brand has always remained the same,” said Rob Ertmann, CEO of Mo’ Bettahs, who joined the brand in 2021 when it had just 22 units in two states. “I’m confident Blue Marlin will only add to that synergy, and our team can’t wait to get started on bringing authentic Hawaiian cuisine to more neighborhoods, friends, and families.”
Throughout its 16-year history, Mo’ Bettahs has won awards and cultivated a strong customer following. Over the last three years, its revenue has grown 178%, and its loyalty/subscriber base now has nearly 500,000 members.
“We never planned on owning a restaurant — let alone almost 60 of them. We were two city bus drivers from Hawaii who knew how to cook, how to eat, and how to work, but the way our lives have unfolded is beyond anything we could have imagined,” said Kimo and Kalani Mack, co-founders of Mo’ Bettahs. “We wouldn’t be here without our Savory partners, Andrew and Shauna Smith. They have been by our side at every step of growth, all while respecting and honoring our experience and heritage. We are honored to continue the journey with them. This partnership will enable us to share good food and ‘spread da aloha’ across the mainland for years to come.”
ABOUT CREWE CAPITAL
Crewe Capital is an independent investment banking, securities, and mergers and acquisitions firm that provides a wide range of financial services to corporations, financial institutions, and family offices. Investment banking and M&A activities are offered through Crewe Capital, LLC, a registered broker-dealer with the U.S. Securities and Exchange Commission (www.sec.gov), a member of the Securities Investor Protection Corporation (www.sipc.org), and a member of the Financial Industry Regulatory Authority (www.finra.org).
ABOUT MO’ BETTAHS HAWAIIAN-STYLE FOOD
Mo’ Bettahs was founded in Bountiful, Utah in 2008 by Kimo and Kalani Mack with a goal of providing guests with an authentic Hawaiian island barbeque experience, just like they enjoyed while growing up in Oahu, Hawaii. Since partnering with Savory Fund, Mo’ Bettahs has grown to 56 locations in Utah, Idaho, Oklahoma, Texas, Missouri, Nevada, and Kansas. Mo’ Bettahs has plans to spread the aloha spirit to more communities through continued expansion in the coming months and years. Mo’ Bettahs offers dine-in, takeout, and catering. For more information, visit Mo’ Bettahs’ website or follow on Instagram, Facebook, or Twitter.
ABOUT SAVORY FUND
Savory Fund is an innovative private equity firm that combines over $750 million in assets under management with a growth playbook and expertise that has been developed over 15 years of operating in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands to deliver financial capital, industry expertise, growth and revenue opportunities, profitability enhancements, and new location development. The Savory team contributes directly to all aspects of growth and replication by using a proven playbook and methodology. Founder involvement in the expansion of a brand is a central theme of the Savory approach as founders carry the tribal knowledge around the uniqueness that has energized early success and is essential to future growth. Savory is currently invested in 11 brands: Swig, R&R BBQ, PINCHO, Via 313 Pizzeria, Houston TX Hot Chicken, Mo’ Bettahs Hawaiian Style Food, 86 Repairs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, and South Block. For more information, visit SavoryFund.com.
